I wanted to take a moment to provide an update as to the current status of the Rental Eviction Moratorium, here in Chicago, and the surrounding suburbs. As of the day of this posting, this is the most up to date information that is currently available.
On today’s show we discussed these hot topics for Landlords and Tenants in and around Chicago and Cook County.
Illinois Moratorium - Governor Pritzker has extended the mandated statewide moratorium through November 22, 2020.
Centers For Disease Control(CDC) - This nationwide ban by the CDC will run through December 31, 2020
IDHA Grant Program - The ability to apply for this grant has passed, but if you are a tenant or have a tenant that has applied for this $5,000 Grant through IDHA, then you can still be approved up through November 15, 2020.
How will it look when evictions begin again?
Many counties are in fear of what will be to come should evictions begin again. The demand for evictions will be substantial and the strain it will place on already understaffed agencies will be immense.
In this episode we discuss Cook County’s capacity to handle evictions versus some inevitable outcomes once they are started again.
Some states and cities may continue to provide assistance programs. State and local municipalities may also continue to a moratorium providing the same or better level protection. When this is the case, the local rules apply over the federal rules.
We do understand the need to have protection for tenants during this crazy year. We also hope that Landlords are doing all they can to help and are being flexible with tenants truly affected by the fall out of this Pandemic.
If you have a tenant trying to take advantage of these moratoriums then reach out to us and we can help advise you on what options you have.
Download your FREE copy of: What They Don't Tell You About Real Estate Investing
See our available Turnkey Cash-Flow Rental Properties
Please give us a RATING & REVIEW (Thank you!)
Want extra Hacks & Tricks? Follow us on Facebook & Youtube!
Looking for a breakthrough in your career? Join Our Team!
SUBSCRIBE on to our podcast on iTunes | Spotify | Stitcher | TuneIn Radio