Richard Magnone This City of Chicago has made available the 2012 CRLTO security deposit interest rate summary. The summary can be found here. This is ONE of the TWO summaries that must be provided to tenants pursuant to CRLTO Section 5-12-170 when a rental agreement (oral or written) is initially offered pr renewed to a tenant or … Read more
The Illinois Department of Financial and Professional Regulation, Division of Banking, has announced the security deposit interest rate to be used for 2012 under the Illinois Security Deposit Interest Act is 0.005%.
Should old acquaintance be forgot, and never brought to mind?
Chicago landlords embark on 2012 facing a fresh set of laws and with a new opportunity to turn over a new leaf. There is never a “bad” time to begin to comply with the many landlord tenant laws that plague landlords, but the New Year is as good a time as any. With that in mind, here are the top five New Year’s Resolutions for landlords.
As most readers of this blog know, the CRLTO requires that the Comptroller of the City of Chicago set the rate of interest for security deposits annually. The new interest rate on security deposits under CRLTO governed rental agreements for the period from January 1, 2012 through December 31, 2012 is 0.057 percent.
Were you landlords naughty or nice this year? How about your tenants? As it is the holiday season, I have made up a list of five presents that “nice” Chicagoland landlords should ask for for the coming year.
2011 was an interesting year in landlord tenant law. While the “shake-up” in new CRLTO law took place in 2010, 2011 was a year full of new state laws regulating landlords and leases. We have a statewide crime free lease law and, beginning in 2011, landlords will have to include Radon disclosures and comply with the lock change statute.
As expected, the Cook County Sheriff will not be enforcing orders for possession to evict any tenants from December 19, 2011 to January 2, 2012. After this coming Friday, tenants will have a 17 day reprieve from being evicted. However, this does NOT mean that the courts or closed or that eviction cases are not … Read more
Based on anecdotal evidence, it looks like the Cook County Sheriff is currently evicting tenants sooner than the DuPage County Sheriff. Bravo Sheriff Dart. Hopefully, this will keep up. By the way, be on the lookout for a post soon about DuPage County eviction procedures. Have a good holiday!
St. Charles, Illinois is the latest in a long list of Chicago suburbs who either have passed or are contemplating the passage of “crime free lease addendum” legislation. A story in the Daily Herald indicates that St. Charles city leaders appear to be in favor of the crime free lease addendum law that would create a rental property inspection program and allow for the eviction of tenants who engage in crimes.
I hope that the landlords who read this blog know this already: landlords should not ask tenants for sexual favors in return for rent credits. According to an article in the Chicago Tribune, Illinois Attorney General Lisa Madigan has filed a lawsuit against a Richton Park landlord accused of allegedly offering his tenant a reduction … Read more