Each year the City of Chicago Comptroller is required to review and set the rate of interest to be paid on security deposits for residential lease agreements.
From January 1, 2020 through December 31, 2020, the security deposit interest rate is set at 0.01% (unchanged since 2015).
Remember: the Chicago Residential Landlord and Tenant Ordinance (CRLTO) requires … Read More ›
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With the upcoming winter weather, it’s inevitable that condominium, homeowner, and townhome associations will have to deal with pipe bursts, leaks, and the resulting property damage. Below are three initial steps board members and property managers can take to determine who is responsible for repairs, unit damages, and/or damage to common areas.
Identify the specific location … Read More ›
Cook County adopted the Just Housing Ordinance (“JHO”) on April 25th, 2019 and turned the multi-family housing industry on its head, placing substantial restrictions on the use of criminal background checks in the tenant screening process.
After considerable negotiations and hearings, the Rules that govern the Just Housing Ordinance were finalized on November 21, 2019. Those Rules establish … Read More ›