The difficult lending climate has turned many would-be home buyers into temporary tenants.
Whichever side of the Landlord-Tenant relationship a person finds himself on, at least some familiarity with local landlord-tenant statutes is worth while.
City of Chicago landlords and prospective tenants ought to take note of a newly enacted provision of the State of Illinois Landlord Tenant Statute.
Effective New Years Day, 2012, many landlords in Chicago will be obligated to change or re-key locks for incoming tenants.
The law APPLIES to:
- City of Chicago Landlords
- Who rent residential dwelling units
- In buildings with 4 or more residential units, OR fewer, if the Landlord does not live in the building.
The law EXEMPTS
- Owner-occupied buildings with 4 or fewer apartments
- Written leases that obligate the tenant to change or re-key the locks
- Rentals of a singe room within a private home.
Landlords are liable to their tenants where a theft occurs in an apartment because the landlord failed to re-key.
The new law can be read in full here: 765 ILCS 705/15