At long last, the CRLTO Interest Rate Summary for 2015 is Available!

chalkFINALLY! CITY ISSUES FORM.

I guess landlords were getting good at making their own forms in January to reflect the new rate of interest on security deposits.  Luckily, the City of Chicago has finally released its interest rate summary required by Section 5-12-170 of the Chicago Residential Landlord and Tenant Ordinance (RLTO).  The summary (linked here) must be attached to all new and renewal leases executed in 2015.

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Chicago #1 for Bedbugs Third Year in a Row

chibb2Those bebbugs must be doing something right!

The mayor will not be happy.  And maybe we have the start of a narrative about how legislation cannot fix all that ails us.  For the third year in a row, Chicago tops the charts in bedbugs.  Orkin has issued its annual “worst bedbug cities” list.  Despite passage of a sweeping and unbelievably pro-tenant ordinance making landlords clean up the mess caused by bedbugs and keep the proof on top of it.  Apparently, the bedbugs have not taken notice.  Chicago tops Detroit as the worst (or best) place for bedbugs (depending on whether you are human or a bedbug).  I’m sure we will see more on this as time goes on.

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Cook County cancels evictions for the week of January 5, 2015

cancelweek2015Bad weather cancels Cook Co. evictions this week

As I wrote about yesterday, the weather outside is frightful.  And when the weather gets frightful, the circuit court’s general order tends to turn off the eviction spigot.  And in response, the Sheriff has updated his website.  If you look at yesterday’s post, you will see that the Sheriff’s website indicated that “pursuant to court order, all residential real estate evictions shall cease effective 12-18-14 thru 1-5-15″.  That has been replaced with the following (see highlighted area): Continue reading

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Polar Vortex Deja Vous and Eviction

casbahEvictions and the Weather Forecast 2015

Although the eviction moratorium is set to end today, I have my doubts that the Sheriff will be working tomorrow.  The weather forecast for tomorrow (1/6/15) predicts a high of 14 degrees and a low of -4 degrees.  This feels eerily like 2014.  As most Chicago landlords know, the Cook County Sheriff is prohibited by the Clerk of the Circuit Court general order from enforcing evictions (1) whenever the outside temperature is 15 degrees Fahrenheit or colder on the actual day of the eviction or (2) whenever regardless of outside temperature, extreme weather conditions endanger the health and welfare of those to be evicted.  As of 10:45am today (1/5/15), the Sheriff’s eviction schedule website looks like this: Continue reading

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2015 State of Illinois Security Deposit Interest Rate released

staterarte2015Illinois 2015 Security Deposit Interest Rate Announced

The  Illinois Department of Finance and Professional Regulation Division of Banking has finally announced today the interest rate affecting the interest to be paid to tenants on security deposits subject to the Illinois Security Deposit Interest Act (765 ILCS 715).  For the fourth year in a row, the interest rate to be used is 0.005%.

Here are the historical rates for the current and prior year.

 

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2015 Chicago Security Deposit Interest Rate

2015rateCity of Chicago sets security deposit interest rate for 2015

Well, it’s that time of year when the City of Chicago sets its annual interest rate for security deposits.  For those residential rentals covered by the Chicago Residential Landlord Tenant Ordinance, Section 5-12-080 requires landlords to pay interest on security deposits.  The interest rate is adjusted annually.  This year, the rate is Continue reading

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2014 Eviction Moratorium Scheduled

15moratoriumA Screeching Halt to Evictions

The Cook County general order establishing an eviction moratorium for the winter of 2014/15 has been entered.  There will be no evictions enforced by the Sheriff of Cook County from December 18, 2014 through January 2, 2015 (which means that the evictions will resume on January 5, 2015).

Good luck landlords!

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Tougher smoke and carbon monoxide detector penalties for Chicago Landlords

detectProposed amendment closes detector compliance loophole

Chicago landlords who fail to comply with the City of Chicago smoke detector and carbon monoxide detector ordinances will face much stiffer penalties.  A proposed amendment to the municipal code for Chicago which passed out of committee this week will close a loophole that allowed landlords cited for failure to comply with the ordinance’s requirements for smoke and carbon monoxide detectors to avoid penalty by complying with the ordinance after being cited but before the building department hearing. Continue reading

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Landlords need to know Chicago and Illinois expansions of Fair Hosuing Protected Classes!

fairTenant alleges gender identity discrimination in Rogers Park

Windy City Times reports that a transgender tenant in Rogers Park has brought a fair housing complaint against her landlord with the Chicago Commission on Human Relations.  The complaint alleges that the landlord refused to rent to the tenant because she was transgender and her fiancée is black.  A representative of the landlord allegedly told the tenant that the landlord would be “…unable to rent out other spaces in his building because prospective tenants were put off by both by Roberts’ gender identity and the race of her fiance…” Continue reading

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No one wants to think about winter but…

radiatorChicago Landlords Turn Up the Heat

Here’s our annual reminder that Chicago landlords responsible to supply heat to their tenants are now within the required City of Chicago time period for heating.  The Chicago Municipal Code (13-196-410) requires minimum amounts of heat from September 15, 2014 and to June 1, 2015.  Heat must be supplied during the day (8:30am to 10:30pm) at a temperature of at least 68 degrees Fahrenheit and in the night (10:30pm to 8:30am) at a temperature of 66 degrees Fahrenheit.

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