A daring new proposal seeks to repeal the RLTO. After years of tyranny against landlords, this must end. “Let justice be done though the heavens should fall” said one legislator. For years, landlords have faced burdensome regulatory requirements governing security deposits, lease provisions, and disclosure obligations. The penalties under the ordinance are severe, unfair, and wildly out of proportion to the interests being protected.
“It is time to level the playing field – fair is fair”, one landlords’ rights advocate said. Many have pointed out that RLTO obligations are driving landlords out of business. Some are selling their buildings. Others are driven into debt and finally foreclosure. It is probably fair to say that the RLTO actually contributes to the increasing number of vacant buildings and crime in the city. Repealing the ordinance would be a huge step toward curbing the woes caused by this ill-conceived fiat. Another government official said that the proposal calls for the law to be “repealed absolutely, totally, and immediately” and “that the reason for the repeal should be assigned, because it was founded on an erroneous principle”.
If you haven’t figured it out by now – April Fools! Sadly, RLTOs everywhere are alive and well and are no laughing matter to landlords who are caught up in their traps. These laws do drive landlords into foreclosure, they do increase costs to tenants (seen any good non-refundable move-in fees lately?), and they are unfair in their conception and execution. Until landlords organize and call for reforms, they remain the “April Fools”and can expect more of the same. The pendulum has swayed too far away from the landlord. Talk to your aldermen. Urge reasonable reform! Until then, get and stay educated and comply with the law.