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Chicago Property Management Blog


Who is Excluded From The Cook County RTLO

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On January 28, 2021, the Cook County Commissioners passed the Residential Tenant Landlord Ordinance (RTLO) that covers all of Cook County. The ordinance does exclude Chicago which is governed under the Chicago Residential Landlord Tenant Ordinance(CRLTO).  Oak Park, Evanston, and Mt Prospect are also excluded because they already have their own rental ordinances in place.  That leaves 125 other Cook County cities remaining tha...

What Cities Are Part Of The New Cook County Residential Tenant Landlord Ordinance (RTLO)

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On January 28, 2021, the Cook County Commissioners passed the new Residential Tenant Landlord Ordinance (RTLO). The RTLO goes into effect on June 1, 2021 and will bring many changes to owners in the 125 cities in Cook County excluding Chicago, Oak Park, Evanston, and Mt. Prospect, that already have their own version of a rental ordinance.To be clear for the investors we work with, we created the following list of Cook County Suburbs tha...

What Is The Cook County RTLO That Passed January 2021

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Does the RTLO apply to you?Cook County Real Estate investors/landlords that own real estate outside of the Chicago city limits in the collar suburbs, are in for a new reality. If you are currently a Landlord in Barrington, Schaumburg, Berwyn, Tinley Park, or Country Club Hills, you now have to approach being a Landlord a little bit differently.  If you are looking to invest, or turn your primary residence into a rental in subu...

Is Chicago Real Estate a Good Investment? 5 Reasons To Do It Now

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Options AvailableFor a potential investor, there are many property investment options available. These options vary in the rate of return and the degree of risk involved. Property has long been a favorite for investors wishing to grow their wealth and it’s easy to see why.There are countless reasons for property being a sound investment for a potential investor – here are 5 of the most important ones:1. Inflation hedgeEvery ...

What are Point of Sale Inspection & Rental License Requirements in Chicago?

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If you are buying property outside of the City Of Chicago limits, then it is imperative that you understand as a buyer the requirements that many suburbs have put in place before and after a real estate closing.  If the process is not clearly followed you, as the new owner, can have some large costs in the first 90 days of closing.  Point of Sale Inspection (POS)A Point of Sale Inspection (POS) occurs when a Village visits a p...

What Do I Need To Know About Chicago CRLTO

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What is the Residential Landlord and Tenant Ordinance?In the 1980s the City Of Chicago passed the Residential Landlord and Tenant Ordinance to clean up the slumlords in the city of Chicago.  From this ordinance, it created many things that Landlords even today 40 years later are not aware of.  Below are some of the main issues you must be aware of as a Realtor or Landlord in the city of Chicago because if you are not the conse...

Chicago's Fair Housing Ordinance Explained

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During the summer of 2020, amongst all the chaos that we have already experienced, the City Of Chicago approved the new Fair Housing Ordinance. This ordinance increases the amount of notice a landlord must give in order to not renew a lease, terminate a lease, or to raise the rent of a tenant.  Chicago Landlord Wants To Terminate Your Lease - Under the ordinance, landlords must provide:60 days of notice to terminate your lease if y...

Who is IAR and How Do They Advocate on Your Behalf

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Who is the IAR?Illinois REALTORS® is the only advocate for private property rights, at the state capitol in Springfield, and in communities statewide. They stand for excellence in advocacy, education and ethics for real estate practitioners, are committed to the revitalization of Chicagoland communities, and to expanding market opportunities. They’ve become one of Illinois’ largest trade associations, representing 50,000...

Chicago's Fair Housing Ordinance

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During the summer of 2020, amongst all the chaos that we have already experienced, the City Of Chicago approved the new Fair Housing Ordinance. This ordinance increases the amount of notice a landlord must give in order to not renew a lease, terminate a lease, or to raise the rent of a tenant.  Chicago Landlord Wants To Terminate Your Lease - Under the ordinance, landlords must provide:60 days of notice to terminate your lease if y...

How to Navigate Chicago’s Eviction Process

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Do you understand all the current landlord rules around evictions in Cook County? COVID has shaken things up, and understanding what you can and can’t do is more confusing than ever, so having an ally who understands the rules and will fight for you is paramount. If you're thinking about evicting a residential tenant in Chicago, and you have no idea where to start, check out the new episode of the Straight Up Chicag...
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