Rep. Guzzardi introduces bill to allow rent control

He’s Baaaa-aack!

The 101st General Assembly began work yesterday (January 9, 2019) and on the first day in session, 309th district state representative Will Guzzardi (D) once again introduced House Bill 255 (HB0255) to repeal the Rent Control Preemption Act that prohibits the imposition of rent control laws in Illinois.  Continue reading

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2019 State of Illinois Security Deposit Interest Rate Released

2019 Illinois Security Deposit Interest RateState Rate Released

The folks at the Illinois IDFPR have finally issued a press release indicating the 2019 security deposit interest rate for leases of residential real property governed by the Illinois Security Deposit Interest Act which applies to lessors “of residential real property, containing 25 or more units in either a single building or a complex of buildings located on contiguous parcels of real property”.  Continue reading

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2019 Chicago Security Deposit Interest Summary Available

2019 CRLTO Interest Rate Summary

The City of Chicago has finally released the separate interest rate summary for Chicago RLTO governed leases for 2019.  Remember, Chicago landlords governed by the Chicago Residential Landlord and Tenant Ordinance are required by Section 5-12-170 of the RLTO to Continue reading

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2019 Chicago Security Deposit Interest Rate Released

2019 Chicago RLTO Interest Rate Stays the Same

The City of Chicago Comptroller, Erin Keane, has released the 2019 security deposit interest rate and, as expected, the rate for leases governed by the Chicago Residential Landlord Tenant Ordinance signed in 2019 is going to be Continue reading

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Early word on 2019 City of Chicago Security Deposit Interest Rate

2019 Interest Rate Sneak Peek

I don’t have official word yet (keep checking back here), but I have heard from a reliable source that the 2019 Chicago interest rate on security deposits held pursuant to 5-12-081 for rental agreements covered by the Chicago RLTO executed between January 1, 2019 and December 1, 2019 will Continue reading

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Lake County Illinois 2018-2019 Eviction Moratorium Starts Today

Lake County Eviction Holiday Delay

I don’t publicize it here too much because the bulk of our firm’s eviction work takes place in Cook County, but it is worth noting that the Lake County Sheriff has issued a moratorium on the enforcement of evictions beginning today, Continue reading

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Breaking down the proposed Illinois Rent Control Act Part 1

Let’s Read this Proposed Law Together

This post is the very first in a series of articles that will examine in detail the proposed text of SB3512 (Amended 5/30/18).  Today, we will break down and examine sections 1 through 10 (really just three sections, so don’t worry, it’s not too much!). Continue reading

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Amended version of Illinois Rent Control Act leaks…

I. Am. Shocked.

I have been writing recently about the efforts to impose rent control on landlords in Illinois.  I think this is a topic of the utmost importance to landlords, real estate investors, real estate agents, and mortgage brokers.  Rent control will undoubtedly shake all of the folks whose livelihood is related to the real estate world. Continue reading

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Cook County Sheriff Eviction Moratorium for 2018 and early 2019

Holi-Delay

The Circuit Court of Cook County entered a General Order 2018-03 on November 19, 2018 setting forth the annual eviction moratorium for Cook County Eviction Order enforcement. Continue reading

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What will Illinois Rent Control Boards Look Like?

Tenants to get upper hand in fixing rents

Would you let your children determine how much allowance they get?  Would Apple let you choose your price for a flashy new iphone?  No?  Well, if the Illinois State Senators (Mattie Hunter – Patricia Van Pelt – Jacqueline Y. Collins, Kimberly A. Lightford, Martin A. Sandoval, Daniel Biss, Kwame Raoul, Antonio Muñoz and Omar Aquino) behind a plan (known as SB3512) to impose state-wide rent control get their way, they’ll be giving tenants the power to set rents. Continue reading

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