New lead law affecting Illinois landlords kicks off 2017

Amendments to Lead Poisoning Prevention Act regarding lead mitigation effective January 1, 2017

Back in August, 2016, the State passed amendments to the Illinois Lead Poisoning Prevention Act that affect landlords.  Many landlords are aware of the federal law that requires landlords of residential rentals built prior to 1978 to disclose information (reports, pamphlets, etc.) of potential lead-based hazards in their real estate.  However, many Illinois landlords are unaware of their obligations under the Illinois Lead Poisoning Prevention Act.  The new amendments deal with mitigation notices for lead paint hazards in an Illinois rental building governed by the law.

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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 Security Deposit Interest Act (765 ILCS 715).  For the fourth year in a row, the … Read more