Category Archives: Illinois

2015 State of Illinois Security Deposit Interest Rate released

Illinois 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 … Continue reading

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Is the “Application Fee” in Danger?

Proposed Illinois law to regulate rental application fees Everyone knows the importance of tenant screening.  In order to offset the cost of screening “the right way”, many landlords collect application fees.  Now, Illinois lawmakers are getting ready to regulate these … Continue reading

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Medical Marijuana and the Illinois Landlord and Tenant

Illinois landlords face new questions in light of recently passed medical marijuana law

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2014 State of Illinois Security Deposit Interest Rate set

Illinois landlords need the 2014 security deposit interest rate for tenancies governed by the Illinois Security Deposit Interest Act

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Landlords beware: assessor can now crack down on wrongful property tax exemptions

The Illinois Legislature has passed an amendment, effective immediately, to the Illinois Property Tax Code adding a new section to the law at 35 ILCS 200/9-275.  The law, which has been long opposed by Illinois landlords, allows the county assessor … Continue reading

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How long will it be until Chicago landlords mimic San Francisco’s landlords?

Chicago landlords need to comply with lots of laws and many are selling instead of renting

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Move-out inspections in Illinois and bad faith

Ikari v. Mason Properties holds that a landlord acted in bad faith by reusing two No. Illinois tenants a move out inspection at the end of lease

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State of Illinois sets 2013 security deposit interest rate

New interest rate for Illinois security deposits for 2013

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Is there rent control in Chicago?

Illinois rent control preemption act prevents governments from enacting rent control laws limiting rent increases landlords charge tenants

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Illinois Security Deposit Return Act amendment awaits Gov’s signature

Illinois legislature set to amend 765 ILCS 710/1 allowing email notification to tenant – HB5314 is awaiting Governor Quinn’s signature.

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