2019 CRLTO Interest Rate SummaryThe 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
2019 Chicago RLTO Interest Rate Stays the SameThe 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
2019 Interest Rate Sneak PeekI 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
Lake County Eviction Holiday DelayI 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
Let’s Read this Proposed Law TogetherUPDATE: These provisions track with the newly introduced (Feb 9, 2019) House Bill 2192 introduced by State Representative Mary E. Flowers.
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
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
Holi-DelayThe 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
Tenants to get upper hand in fixing rentsWould 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
As I mentioned a few days back, there was a meeting in downtown Chicago of the Illinois Special Senate Committee on Housing to discuss rent control legislation. So what happened? Predictable things happened. Community organizers and tenants’ rights advocates filled the room with folks with yellow signs demanding rent control. Landlord and real estate agent activists spoke about the perils of rent control. You can read all about it in an article published in Crain’s Chicago Business. Continue reading
Act Now to Avoid Rent ControlThe Chicago Association of Realtors has sent out a request that landlords join them in providing feedback to the Illinois Legislature this week on rent control. The Illinois Senate Special Committee on Housing is holding a rent control hearing this Thursday September 27, 2018 at 9 am in room C600 at the Michael A. Bilandic Building – 160 N. LaSalle St., Chicago, Illinois, related to efforts in the Illinois legislature regarding establishing a statewide rent control policy. The hearing is open to the public. You can also submit a written statement via witness slip at the Senate website by clicking here. Continue reading
