Whether you’re a new or experienced landlord, you must be crystal clear on what is expected of you in this role. Besides the responsibility to provide quality renting experiences for your tenants, you also must ensure that you follow all the rules and regulations your state has enumerated so that you treat each and every tenant fairly. Below are the top three types of laws to consider as a landlord in Illinois.
#1: Consider Required Disclosures
As a landlord, there are a few things you must tell your tenants before they move in to your property. Below are a few of the environmental and safety disclosures you must include in your rental agreements.
As required by Section 1018 of the Residential Lead-Based Paint Hazard Reduction Act of 1992, landlords must disclose any lead-based paint hazards in rental agreements of properties that were built before 1978. They also must provide to all tenants an information packet that has been approved by the EPA entitled “Protect Your Family from Lead in Your Home”.
If you are an Illinois landlord renting a unit that is located below the third story of a building, you are required to disclose any radon hazards to those tenants. This disclosure must be in writing and given to all prospective tenants.
Smoke and Carbon Monoxide Detector Notices
For both the smoke and carbon monoxide detectors in your units, you must provide a written notice to at least one tenant in each unit detailing how to test and maintain those detectors.
#2: Make Sure You Are Following the FCRA
The FCRA, or the federal Fair Credit Reporting Act, details the things that landlords across the nation must do in order to protect their tenant’s credit information. A renter’s credit score and history are two very sensitive pieces of information, so it’s imperative that you follow the rules detailed in this act to keep that information secure. For example, no one without a concrete legal reason can view your tenant’s credit information. Also, be sure to securely dispose of credit reports after you’re finished with tenant screening. If a tenant’s credit history or score is the reason why you declined their application, you must tell them that.
If you’re curious or would like to see these laws in closer detail, check out the federal law code (15 USC § 1681) for the Fair Credit Reporting Act full text.
#3: Pay Attention to Required Eviction Notices
The eviction law Chicago and the entire state of Illinois follows details three types of required notices when attempting to evict a tenant.
If you are trying to obtain payment from a tenant who has yet to pay, you can issue a Rent Demand Notice and must allow five days for your tenant to either pay their amount due or be evicted. After you have posted the notice and waited those allotted five days without receiving that amount, you may file an eviction lawsuit to remove the tenant.
When a tenant violates terms within your lease agreement besides nonpayment of rent, you can post a Notice for Lease Violation and must wait ten days before filing for eviction. Landlords do not need to provide an opportunity for the tenant to reconcile the situation.
You may learn that your tenant is participating in illegal activities while living in your unit, and you are wondering what notice you must issue to remove them. This type of eviction notice is called an Unconditional Quit Notice. You must serve this notice, wait five days, and then you can file for eviction.
When thinking about illegal eviction Illinoisdetails specifically what to do when trying to evict a tenant, and when to take each step based on required days before filing for eviction. Make sure you read up on this section of your state’s code and follow it closely. Evictions can be tedious and tricky, so be careful that you don’t end up in legal hot water.
If you’re wondering what to charge for rent in Illinois, know that the average rate is $1,151 in the state generally. However, the average rent price in Chicagois a little higher at $1,775/month, which is still 18% lower than the national average. This surprisingly low rent price makes Chicago an interesting candidate for investment.
It’s important to also be aware that entry laws in Chicago differ from the rest of Illinois. You, as a landlord, must give at least 48 hours’ notice before entering your tenant’s space. You cannot enter unless it is a weekday between 8am and 6pm. You can, however, enter the premises without notice in the event of an emergency.
When thinking about whether to invest in property in the state of Illinois, make sure you pay attention to the laws listed above. Doing so will pay off in strides as you avoid costly lawsuits and maintain a strong reputation as a quality, law-abiding landlord.
Syed Qasim ( CEO IQ DEVELOPERS ) Is a highly experienced SEO expert with over three years of experience. He is working as a contributor on many reputable blog sites, including Filmdaily.co, Apnews.com, Businessinsider.com, and Timesbusinessnews.com. You can contact him on whatsapp at +923237711173
Image Source The vacation rental business is thriving. With the rise of social media influencers and digital technologies, people now want to travel more frequently. Even within the United States and internationally, of course, it has become a frequent occurrence for individuals with their families, friends, or loved ones to set out exploring new […]
Gaming has evolved tremendously over the years, from the pixelated adventures of the early days to the immersive and realistic experiences we enjoy today. However, there's always room for improvement, and that's where the option to download Mod APKs, and that's where Mod APKs come into play. In this article, we'll explore how Mod […]
One of the most striking ways to showcase your personality and breathe life into a room is through wall murals. These aren't just designs; they’re expressions of identity, captured through paint. Whether you're an amateur artist or someone with zero painting experience, creating a DIY wall mural is an endeavor that promises not just a […]
Welcome to Urban Splatter, the blog about eccentric luxury real estate and celebrity houses for the inquisitive fans interested in lifestyle and design. Also find the latest architecture, construction, home improvement and travel posts.