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February 2, 2015

Rental Laws: Chicago, Illinois

by AvenueWest Managed Corporate Housing

Corporate Housing & Apartments Rental Blog

Chicago is a very large city, with a significant population of residents, businesses and rental properties. If you’re in the process of deciding to rent out your property, you must ensure that you comply with the city’s laws and ordinances governing what you (and your tenants) can and cannot do. It’s also important to understand that the rules applying to renters who choose to rent furnished apartments don’t necessarily apply to extended stay properties.

Residential Properties

If you’re a residential landlord (you’re renting residential property to tenants), then you’re governed by the Chicago Residential Landlord Tenant Ordinance, or RLTO. This ordinance does not govern the following types of properties and situations:

  • Owner-occupied buildings with six or fewer units
  • Rooming houses, hotels and motels unless rent is monthly and occupancy is 32 days or more
  • Employee quarters
  • Dorms and shelters for students
  • Convents
  • Hospitals
  • Nonresidential properties
  • Owner-occupied condos
  • Owner-occupied co-ops

View original post 641 more words

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