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Updated about 8 years ago on . Most recent reply

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Russell W.
  • Rental Property Investor
  • Illinois
107
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165
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Chicago RTLO question

Russell W.
  • Rental Property Investor
  • Illinois
Posted

Hey everyone, so like a lot of people here on BP I live in my rental property as an owner-occupant. My question is in regards to the Chicago RTLO. It states that the ordinance covers:

With a few exceptions, the first of which being 

If not in the Chicago RTLO, how are these properties governed? Section 5-12-160 seems to only cover unlawfully removing tenants. Are owner-occupied buildings regulated elsewhere? Thanks for the help!

Most Popular Reply

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Brie Schmidt
Agent
  • Real Estate Broker
  • Chicago, IL
5,067
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6,129
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Brie Schmidt
Agent
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@Russell W. - OO are exempt from the RLTO except in the section you mentioned. They are not exempt from federal, state, and local housing laws which are centered around discrimination and fair housing.

I tell clients that even though they are exempt, it is a good idea to follow the rules of the RLTO from day 1.  For example if you sign leases that are not RLTO compliant and then buy a new property in a few month, you lose your exemption and if you did not follow SD rules from day 1 you need to become compliant before you move.

I don't think the rules are strict, so they should be easy to follow

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