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.
Since 1983, KSN has been a legal resource for condominium, homeowner, and townhome associations. Additionally, we represent clients in real estate transactions, collections, landlord/tenant issues, and property tax appeals. We represent thousands of clients and community associations throughout the US with offices in several states including Florida, Illinois, Indiana, and Wisconsin.
Please note the material contained in this article is for educational and informational purposes only and does not constitute legal advice. No attorney-client relationship is established by your review or receipt of the information contained in this article. You should not act on the information discussed in this article without first obtaining legal advice from an attorney duly licensed to practice law in your State. While KSN has made every effort to include up-to-date information in this article, the law can change quickly. Accordingly, please understand that information discussed in this article may not yet reflect the most recent legal developments. Material is not guaranteed to be correct, complete, or up to date. KSN reserves the right to revise or update the information and statements of law discussed in the article law at any time, without notice, and disclaims any liability for your use of information or statements of law discussed on the article, or the accessibility of the article generally. This article may be considered advertising in some jurisdictions under applicable law/s and/or ethical rules/regulations. © 2020 Kovitz Shifrin Nesbit, A Professional Corporation.