The Chicago Residential Landlord & Tenant Ordinance (RLTO) was created to regulate residential leasing agreements for most properties within city limits. Awareness of the Ordinance’s requirements is an essential component of owning and/or managing rental property in Chicago.
The City of Chicago recently issued an updated RLTO summary that, effective immediately, must be attached to new leases and lease renewals for all Chicago properties that are subject to the RLTO.
The City of Chicago has allowed a grace period for compliance with past amendments to the summary. However, the City has not mentioned a grace period with the release of this new summary.
Therefore, we strongly recommend that clients incorporate this revised RLTO summary into its forms immediately to avoid penalties under the RLTO. The new RLTO summary can be found here.
Please call our office if you have any questions regarding these recent changes to the RLTO. KSN can be reached by calling 855-537-0500 or by visiting ksnlaw.com.
Our law firm will continue to monitor the ongoing changes with the Chicago Residential Landlord & Tenant Ordinance and its impact on landlords and rental property managers.
Additionally, if you would like to speak to one of our attorneys for additional explanations of the recent Executive Orders, the CARES Act, and/or the most recent changes with the Illinois Eviction Act, KSN can be reached by calling 855-537-0500 or by visiting ksnlaw.com.
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