CHICAGO: Longterm Renters Get 120 Days’ Notice To Leave

[Wanda Austin-Wingood]

I knew Chicago was a tenant-friendly city when I decided to invest here.  After all, I live here.  I must admit that the new ordinance doesn't sit well with me.  I am a micro investor who is sympathetic to the plight of families who are renting during the COVID-19 era. However, I can't afford to subsidize them if they decide to withhold rent during that four-month period.  Or what recourse do I have if they damage my property during that period?

I'd really appreciate your perspective, especially investors in Chicago.

BTW, any suggestions where I could look for buy & hold multis (3+ units)?

https://blockclubchicago.org/2...

[Ivy Pierce]

It is my understanding that it only applies to properties with 6+ units. I watched the playback of the city council meeting, but have been unable to find official documentation yet.