New Section 5-12-170 Ordinance Summary to be Attached to LeasesAs my readers know, the CRLTO was amended recently with the passage Mayor’s Fair Notice law that made significant changes to Section 5-12-130(j) of the Ordinance. The City has FINALLY release their revised version of the CRLTO summary. You can find a copy
For the first time since 2016, the Chicago Residential Landlord and Tenant Ordinance has been amended. By a vote of 35-15, the City Council passed Mayor’s second draft of the measure. At the Building’s committee a week earlier upon only a few hours notice, the Mayor presented an amendment to the proposal she originally introduced on May 20, 2020 which contained even more anti-landlord provisions. That version was
We missed this oneLost in all of the hoopla over the passage of the Mayor’s Covid-19 Eviction Protection Ordinance, we missed the proposal of at lease one new ordinance that will affect Chicago Landlords. Under a sweeping ordinance proposed by 12th Ward Alderman George Cardenas, changes would be made to the Chicago Residential Landlord and Tenant Ordinance requiring landlords to provide
Covid-19 Change or Just a Change?UPDATE: A version of this law has passed the City Council. Today, May 20, 2020, Mayor Lightfoot has introduced a measure to radically change, dare I say, hundreds of years of common law and forty years of Chicago law with respect to the termination of a lease and/or a tenancy. These rules may be INSPIRED by Covid-19, but there is no indication that they will be repealed or removed once the threat of the Coronavirus is just a memory. The proposed ordinance will change the amount of advance notice landlords need to give to tenants to terminate a lease or tenancy and to introduce new requirements that landlords provide relocation assistance (a nice thing to call a payment) to tenants. Let’s take a dive into the proposed law.
The Comptroller of the City of Chicago has released the rate for leases entered into from January 1, 2020 to December 31, 2020 that are governed by the Chicago Residential Landlord and Tenant Ordinance. For those rental agreements, the rate to comply with the requirements of Section 5-12-080 of the CRLTO
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
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
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
CBS Chicago Channel 2 presented a story yesterday about a management company that is attempting to mass-terminate the leases of tenants in a building it allegedly intends to renovate. At issue is a provision of the lease seemingly allowing the landlord to terminate the lease on 30 days advance notice. What kind of law is involved here?
The University of Washington just released a rental housing study commissioned by the City of Seattle that the Rental Hosing Association of Washington says “supports what landlords have been telling [Seattle] officials for years”. Among the findings were the following:
That is confirmed by one landlord in Seattle who sold his unit because of Seattle’s laws with respect to security deposits. Does this sound familiar? Could it happen here?