Tuesday, January 10, 2006
Chicago Landlord Tenant Ordinance
Remember if your rental property is in the city of Chicago, whether it is a condo, two flat or a 12 unit building you are subject to the rules of the Chicago Landlord Tenant Ordinance (LTO). The only exemption is for an owner occupied building of 6 units or less. If you have a three flat and you live in one of the units you are exempt from the LTO. If you own a condo that you are renting out and you do not live there, then you must comply with the LTO. You can get a summary of the LTO from your alderman's office or online at cityofchicago.org.
The Landlord Tenant Ordinance favors tenants in most areas, particularly security deposits. There are rules on how and when deposits must be returned and you must pay interest on all security deposits. If you are taken to court over a security deposit you could end up paying double the deposit in damages. The rules you have to follow in the LTO are not that difficult and it will save you a lot of trouble in the future.
There is a landlord hotline you can call too. I find they are pretty helpful, but they have crazy hours so it is not easy to get them on the phone 312-922-3067. There is also a renters rights hotline you can call as well 312-742-7368.
Good luck and follow the LTO!
The Landlord Tenant Ordinance favors tenants in most areas, particularly security deposits. There are rules on how and when deposits must be returned and you must pay interest on all security deposits. If you are taken to court over a security deposit you could end up paying double the deposit in damages. The rules you have to follow in the LTO are not that difficult and it will save you a lot of trouble in the future.
There is a landlord hotline you can call too. I find they are pretty helpful, but they have crazy hours so it is not easy to get them on the phone 312-922-3067. There is also a renters rights hotline you can call as well 312-742-7368.
Good luck and follow the LTO!
