New tenant-landlord law to be propsed in Chicago

[Soh Tanaka]

Even looking at the full side of the glass, it's getting harder to justify buying rentals in Chicago. This Alderman is going to present yet another tenant friendly regulation.

There are a lot of reasons why this is tenant friendly, but one of them is you can no longer end month-to-month, even with 30-day notice, unless there's a "good cause," which is described here.

Also, now the tenants could have a longer period to pay back the rent and stay in the property. In other words, even if you pay the eviction attorney, and start the eviction process, if the tenants pay pack all the money by certain time, you have to keep them. 

The above is just a proposal at this point, but I'm not surprised if this pass. Obviously this involves legal matter, so read the above with that in mind. 

This website summarizes prety well.