Lease Revisions Needed
A new day is dawning for suburban Cook County landlords. Just today, the Cook County Board of Commissioners unanimously passed the Cook County Residential Tenant and Landlord Ordinance. While this legislation could have been much worse based on the initial proposed ordinance, it still represents a major and substantial change for suburban landlords. Luckily, landlord advocates were able to successfully advocate for amendments favorable to landlords, not the least of which is a “cure period” before security deposit violation penalties could be imposed. In the coming days, I expect to post some of the highlights (and lowlights) of this new law that suburban Cook County landlords will need to know about.
The new ordinance (a copy of the substitute version we believe has been approved can be found here) will require every suburban landlord to, at a bare minimum, review and likely revise their leases and leasing practices. Luckily, the new law does not take effect until June 1, 2021, however, smart landlords will be working now to get their business and forms in order. The attorneys here at Reda | Ciprian | Magnone, LLC offer lease drafting and review services. Feel free to contact us to see if we are a match for an engagement.