Welcome to day three of our series on the new Keep Chicago Renting Ordinance. Yesterday, we discussed the various notices that needed to be provided under the new law. Today, we will take a look at the provisions dealing with tenant relocation assistance found in section 5-14-050 of the Chicago Protecting Tenants in Foreclosed Rental Property Ordinance.
Notice Requirements for “Keep Chicago Renting”
Chicago’s new “Protecting Tenants in Foreclosed Rental Property Ordinance” consists of a number of parts. The law applies to certain foreclosed properties within the City of Chicago. Sections 5-14-020 and 5-14-030 help owners figure out if the law applies to them. Today, in part one of my short-series on the law, I will focus on the notice requirements. Section 5-14-040 sets forth the requirement that an owner, as defined by the ordinance, provide a certain notice to tenants within 21 days after becoming the owner of a foreclosed rental property.
Keep Chicago Renting Week
Per the City of Chicago Department of Buildings, the “Keep Chicago Renting” Ordinance has gone into effect as of September 24, 2013. As such, the law deserves to be reviewed. While it is pretty rare that the “everyday” landlord is purchasing a property at a foreclosure auction, I think it is a good exercise to go through because the ordinance points to the tenor of the City of Chicago toward tenants (protectionist) and because it is a good stepping off point for the other state and federal laws that protect tenants. As such, I’ll touch on one aspect of the ordinance every day beginning tomorrow. The schedule will be as follows:
More musings on the first-time Chicago landlord
Here I go again. Sometimes, when I write a blog article like this one, I wonder if anyone actually ever reads it. I really hope that people do. In fact, I hope that new and first-time landlords find this article before they sign a lease. It is a cautionary tale. It is a story I have told before and will tell again.
Will Chicago Section 8 be Affected by Government Shut-Down?
The Federal Department of Housing and Urban Development released a contingency plan for procedures in the event of a government shut-down. The 67 page document is complex but it does address, in some small regard, what might happen to Section 8 programs during the government shut down.
In the section related to multi-family housing, the document indicates that HUD will “Make payments under Section 8 contracts, rent supplement, section 236, PRACS where there is a permanent or indefinite authority or multi-year funding.” and it goes on to say that HUD will “Renew/Fund Section 8 contracts and PRACS where there is budget authority available from prior appropriations or recaptures.”
Highland Park’s Proposed Rental Registration Program
The Lake County Property Investors Association has issued a release to its members indicating that the City of Highland Park is considering a “rental registration” program. They indicate that there is not yet a written ordinance but that the program envisioned would include annual registration of all rental properties (whether multi-unit or single family) and … Read more
New Chicago Engery Consumption Law Passed and, guess what? Landlords must comply!
I don’t often miss major news, but today my good friend Sherwin Sucaldito, an excellent @properties agent, gave me a heads that the Chicago City Council just passed Chapter 18-14 of the municipal code of Chicago known as the Building Energy Use Benchmarking Ordinance.
Turn that heat on this weekend! Chicago and Suburbs enter heating season.
It’s an annual event. Tenants throughout Chicago and some suburbs are entitled to minimum amounts of heat beginning this coming Sunday, September 15, 2013. I’ve posted before on the Chicago rules and some of the suburban rules. It’s been hot in September and that’s likely to continue. No matter, the CRLTO and other laws require … Read more
Bellville Illinois added to long list of towns looking to impose crime free leasing standards
Long time readers of this blog are well aware that I’m no fan of crime-free leasing addendum and landlord registration programs. You can add Bellville, Illinois to the list of communities that have or are considering such laws. Now, Belleville, Illinois (known as the “Capital of Southern Illinois”) is well outside of the geographic area I cover on this blog. (Please Bellevill-ites, no calls about landlord-tenant law!) However, this story caught my eye because of an interesting twist on the opposition to the law. The Belleville News Democrat has a story indicating that the ordinance was to be reviewed by the town’s housing committee yesterday, September 4, 2013, and if approved, will head to the ordinance committee on September 10. If passed by both committees, the law will be up for passage on September 16. What is pof particular interest is that,
Welcome to the new renting season
Especially in Chicago, September seems to be the beginning of a the “new year” for renting. The huge number of Chicago leases run through the end of September and this means that October 1 is usually the biggest moving day in the city. That also means that September is the month when it is, theoretically, easiest for fast-acting tenants to find a rental or quality landlords to find a tenant because so many leases are expiring at month’s end. Those new October leases and increased demand also bring increased rents with them.