If you’re a Chicago landlord with a Chicago rental property, there are many “disclosures” and “notices” that you must provide to your [prospective] tenant. If a landlord fails to comply with properly providing these disclosures, the landlord could very likely end up in court, owing the tenant money, paying the tenant’s attorney fees, or at the very least, the tenant can break the lease without penalty.
There are a number of federal, state, and local laws (Chapter 5-12 of the Chicago Municipal Code – aka the Chicago RLTO) that govern landlord-tenant relationships. There are about a dozen disclosures or notices that need to be provided to the tenant.
Depending on the age, condition, and location of the dwelling unit in the building, some of these disclosures may not apply to your particular rental – meaning the landlord is exempt from providing a particular disclosure to the tenant. The most common exception is for rentals in owner-occupied buildings of six units or less.
Notice of Conditions Affecting Habitability;
the existence of any building code violations in the past 12 months,
the pendency of any “enforcement litigation” or “compliance board proceeding,” and
any notice of intent by either the City of Chicago or any utility provider to terminate the water, gas, electrical, or other services, provided (in each case) that they relate to the dwelling unit being rented or the common areas of the building.
Identification of The Owner And Agent;
Summary of The Chicago Residential Landlord And Tenant Ordinance plus the porch/deck safety clause;
Security Deposit Interest Rate Summary;
Security Deposit Receipt;
Bed Bug Prevention and Treatment Brochure;
Heating Cost Disclosure;
Lead-Based Paint Disclosure and Pamphlet; and
Radon Hazard Disclosure and Pamphlet
For more information about each of these disclosures and the specific requirements, you should consult with a Chicago real estate attorney knowledgeable of the Chicago Residential Landlord Tenant Ordinance.
Counties including Cook County, DuPage County, Kane County, Lake County, and McHenry County.
Serving the local townships of: Antioch, Arlington Heights, Barrington, Bolingbrook, Carol Stream, Chicago, Des Plaines, Evanston, Fox Lake, Glenview, Grayslake, Gurnee, Harwood Heights, Hawthorn Woods, Highland Park, Hoffman Estates, Hyde Park, Lake Forest, Libertyville, Lincolnshire, Lincolnwood, Lombard, Long Grove, Morton Grove, Mount Prospect, Mundelein, Niles, Northbrook, Oak Park, Palatine, Park Ridge, Prospect Heights, Rosemont, Round Lake, Schaumburg, Skokie, Vernon Hills, Waukegan, Westchester, Wheeling, Wilmette, Winnetka, Zion.
August 22, 2015
ESTIMATE YOUR CLOSING PROCEEDS
What is your Projected Sales Price: _______________________________________
To estimate your net proceeds, subtract numbers 1 through 17 below from the projected sales price. This calculation should provide you with a fairly close estimate.
1) MORTGAGE [...]