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Updated over 4 years ago on . Most recent reply

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1,873
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Henry Lazerow
  • Real Estate Agent
  • Chicago, IL
2,381
Votes |
1,873
Posts

CALL TO ACTION - Proposed additional anti landlord regulations

Henry Lazerow
  • Real Estate Agent
  • Chicago, IL
Posted

There is a new proposal to create a set of guidelines similar to the Chicago's Landlord-Tenant ordinance which, as investors, we need to oppose. This proposal imposes duties on the Landlords while providing tenants with remedies which will impact the rental market in a negative way. Act on the CALL TO ACTION today!

"While it does exempt buildings which are six units or less and owner occupied, it applies to all other rental agreements regardless of the duration of the tenancy-- even short-term rentals. Some of the various provisions in the RTLO include the following:

  • Limits on late rental fee payments to $10 per month.
  • Disclosure to prospective tenants of utility costs for the previous 12 months.
  • Additional habitability requirements, beyond building city code requirements.
  • Tenant “right to cure” non-payment of rent before judge orders eviction.
  • Landlord storage of tenant's personal items if tenant vacates a unit.
  • Non-lease renewal notice of 90 days.
  • Landlord Disclosure of code violations to prospective tenants for the previous 12 months.
  • Landlords cannot charge other "fees" such as move-in fees."

This is how we protect our industry!


Please use this is the link to respond online: https://bit.ly/2TZHsCi

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