Information on How We Charge for Evictions
As seasoned landlords know much too well, all Illinois evictions have two things in common. They are expensive and they take time. We do our best to keep our fees down and to move the process along as reasonably fast as the system will allow, but the realities of the inefficient system and the uncertainties of the other parties (ie. process servers, tenants, and judges) lead to landlords expending valuable time and money in an eviction. Continue reading
Back in March, I discussed the proposal by Chicago-based state legislator Will Guzzardi (39th District – D) to repeal the law prohibiting rent control in Illinois. That bill is currently in the rules committee and only recently, on August 29, 2017, added legislator Theresa Mah (2nd District – D) as another co-sponsor. Both Chicago Magazine and the Reader have reported on recent events promoting the law as a way to reduce gentrification in the Pilsen neighborhood. In the wake of all of the proposed ordinances and statutes, landlords are on the defensive and it seems that no actual reform of a slow and burdensome eviction system is underway. Get organized landlords.
Get ready for a change in terms.
Bye bye Forcible Entry and Detainer Act and hello Eviction Act. Public Act 100-0173 was passed into law and signed by the Governor on August 18, 2017 and will be effective on January 1, 2018. Is this law a sweeping change? Did we finally get some eviction law reform? Not at all. Continue reading
Post-Foreclosure Landlords Beware
The relatively new Keep Chicago Renting Ordinance (KCRO) was the subject of an appellate case, Wells Fargo Bank v. Volneat Vanette McCondichie, released on March 31, 2017. Readers will recall that the ordinance requires the first party that takes over a post-foreclosure property, under most circumstances, to either allow the tenants to continue with their lease or to pay a relocation fee of $10,600 to the tenants who vacate. Continue reading
I had a great time this morning, as always, presenting to fellow attorneys for Chicago Title Insurance Company at their training in Rolling Meadows with respect to updates in landlord tenant law.
Rent control bill introduced
Chicago-based state legislator Will Guzzardi (39th District – D) has introduced House Bill 2430 which seeks to repeal the Illinois Rent Control Preemption Act. That law, discussed in a previous blog entry, was passed in 1997 and prohibits local governments or home rule units from enacting any law, resolution, or regulation that controls rent. At the time of its passage, then Illinois state senator Barak Obama voted against the law. Continue reading
Posted in Rent
Tagged rent control
2017 Illinois rate announced by IDFPR
Well, it took them about two weeks into the new year, but the State of Illinois has released the 2017 security deposit interest rate for those leases governed by the Illinois Security Deposit Interest Act. The law applies to multi-unit residential properties containing 25 or more units for security deposits held for six months or more. There is a change this year and the interest rate now matches the Chicago rate. For 2016, the rate of interest to be paid for those leases is equal to .01%. Here is a link to the historical rates.
Why most Illinois landlords are wrong about their bad tenants!
Many landlords waver at the decision to evict. That’s natural. To most landlords, evictions are scary. Worse yet, Illinois evictions are expensive, uncertain, and take lots of time. Luckily, the vast majority of landlords have never even had to go through an eviction! Continue reading
Quick hit: mandatory renter’s insurance requirements?
No. At this time, there is no ordinance in the City of Chicago that requires that a tenant obtain renter’s insurance. In fact, there is no statute in the State of Illinois that requires a tenant to provide such a policy. Landlords can, as a contractual provision and a requirement of leasing, require tenants to obtain renter’s insurance. Further, there are condominium associations that require that landlords within the association force their tenants to obtain an HO4 or other renter’s insurance policy.
Please note: Quick hits are short, simple answers to questions landlords might be asking – as with everything in landlord tenant law – things are not always short and simple – always consult an attorney before acting!