CHICAGO: Longterm Renters Get 120 Days’ Notice To Leave

CHICAGO: Longterm Renters Get 120 Days’ Notice To Leave

Investor · Chicago, IL · Member since 2020 · 11 posts · 1 vote
I knew Chicago was a tenant-friendly city when I decided to invest here.  After all, I live here.  I must admit that the new ordinance doesn't sit well with me.  I am a micro investor who is sympathetic to the plight of families who are renting during the COVID-19 era. However, I can't afford to subsidize them if they decide to withhold rent during that four-month period.  Or what recourse do I have if they damage my property during that period?

I'd really appreciate your perspective, especially investors in Chicago.

BTW, any suggestions where I could look for buy & hold multis (3+ units)?

https://blockclubchicago.org/2...

0Reply
46 views

4 Replies

Jump to latestLatest
  • Hazel Crest, IL · Member since 2017 · 38 posts · 11 votes
    6y

    It is my understanding that it only applies to properties with 6+ units. I watched the playback of the city council meeting, but have been unable to find official documentation yet.

  • Investor · Chicago, IL · Member since 2020 · 11 posts · 1 vote
    6y

    Thanks for the info. I found the ordinance and the exception is in the first paragraph. 

  • Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
    6y

    That is eviction without cause.   Please consult an attorney when dealing with eviction issues.  There are several new changes.

    The only time I evicted was for "non payment."   The 120 days should not apply.  

    I do believe there is a new form required with non payment evictions, due to covid related employment.  It is a form that states the landlord must propose a workout remedy.  Again consult a good eviction attorney.

    Eviction court closure has been extended another month, so these are trying times for landlords without paying tenants.

  • Investor · Chicago, IL · Member since 2020 · 11 posts · 1 vote
    6y

    The posting was confirmation that owner occupied buildings with 6 or fewer units are exempt from the new notification ordinance.  

Join the conversationCreate a free account to reply, vote on answers and follow this thread.