Mayor Emanuel and the Department of Business Affairs and Consumer Protection (BACP) announced on August 15, 2014, that the City, in partnership with other community advocate groups, is investigating multiple complaints by residents whose tenant rights may have been violated under the Protecting Tenants in Foreclosed Rental Property Ordinance (Keep Chicago Renting Ordinance), and is calling upon banks and property managers to comply with the law.
The Keep Chicago Renting Ordinance requires the new owners of foreclosed properties to provide written notice of the change in ownership to all tenants within 21 days after becoming the new owner or within 7 days of determining the tenant’s identity. Notice must be delivered to known tenants or household members 13 years or older, or mailed. In addition, notice must be posted on the primary entrance of each foreclosed property. The new owner is also required to notify tenants of their options under the Ordinance, which include the new owner offering to renew or extend the tenant’s rental agreement for the rental amount not greater than 102% of the tenant’s current annual rent, or providing qualified tenants with $10,600 for relocation assistance. Visit the City of Chicago website to view this notice in it's entirety.
At www.bradfordmillerlaw.com you can review the City of Chicago Residential Landlord and Tenant Ordinance Summary along with other helpful landlord information. Bradford Miller Law, P.C. has been representing Landlords for several years and, we can assist you in resolving any tenant issues that you may encounter. If you are having a problem and need legal representation contact us at 312-238-9298 for a free 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, IL 60602
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