In 2024, landlords and property managers in Chicagoland and Illinois need to know the new laws. These laws affect their operations. It's important to understand these changes. It's important to follow them. They include different ways to pay, new protected groups, and environmental rules. Doing this will help your rental business succeed and stay legal.

New Requirements for Security Deposit In 2024 

Illinois will change its security deposit laws. The maximum security deposit amount will increase. Landlords can ask tenants for a higher security deposit. This will help protect their properties and deal with damages or unpaid rent. Landlords need to know and follow the rules for security deposits in Illinois. By doing this, both landlords and tenants will understand their rights and responsibilities. This will make the rental process fair and clear.

If you want to get more detail about the new Security Deposit Law click here. 

Changes to Accepting Electronic Payments in 2024

In 2024, a new section (765 ILCS 705/4) was added to the Illinois Landlord and Tenant Act. It is titled "Ban on Electronic Funds Transfers as Exclusive Method of Payment." This bans landlords from requiring tenants to use electronic funds transfers (EFT) or similar electronic methods. Landlords cannot require these methods as the only way to pay rent and other lease-related payments. Landlords can encourage electronic payments. However, they cannot make them mandatory. It's not recommended to use monetary bonuses or penalties to encourage electronic payments. It's important to note. Landlords must also offer an option for tenants to submit paper forms of payment. For example, tenants can mail a check to an offsite processor. Violating this statute breaks the Consumer Fraud and Deceptive Business Practices Act. Violations come with steep penalties. They have strict liability.
If you want to know more about the Electronic Payment Act click here.

Changes to Immigration as a Protected Class

The Illinois Human Rights Act has changed. Immigration status is now a protected class. It is illegal to discriminate in housing matters. Discrimination cannot be based on someone's real or assumed citizenship or immigration status. Landlords and property managers should not ask for immigration documents when screening tenants. Other forms of ID can verify identity and do background/credit checks. Not following this change may result in Civil Rights and Fair Housing violations. These may occur due to discrimination complaints.

If you want to know more about the Illinois Human Rights Act click here.

The Illinois Electric Vehicle Charging Act

The Illinois Electric Vehicle Charging Act (765 ILCS 1085) makes it easier to install and use electric vehicle (EV) charging stations in homes and businesses. New homes, small apartment buildings, and larger apartment buildings must have parking spaces that can charge EVs. This rule applies to buildings built or renovated after January 1, 2024. The Act also provides guidelines for tenants to install their own EV charging systems. They can do this as long as they meet certain conditions. Landlords cannot charge a fee for the use of EV charging stations. They can only charge for the extra electricity used and reasonable access. If the Act is not followed, landlords or tenants may face consequences.

Curious about how the new Illinois Electric Vehicle Charging Act impacts you? Want to know if your new apartment building needs EV charging stations, or how to get a rebate for installing one at home? Find it here!

Changes to the Illinois Tenant Radon Protection Act for 2024

The Illinois Tenant Radon Protection Act has been changed for 2024. Landlords now have to give tenants on the second floor or lower information about radon levels and risks. If a tenant tests for radon and wants to fix it, they have to tell the landlord the results within 10 days. The Act doesn't force landlords or tenants to test for radon. However, it does let them end a lease if certain radon problems exist.

If you want to learn more about the Radon Protection Act click here.

Landlords and property managers in the Chicagoland and Illinois areas must stay informed about the 2024 legal updates. This will help them follow the law and avoid legal problems. You can run your rental business in a legal and ethical way by understanding and following these changes. You can also provide a safe and fair environment for your tenants. If you have questions about these updates or other landlord legal issues, our experienced team can help.

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