What is in SB3066 that is bad for Illinois Landlords?

What’s Wrong Here?

Obviously, there is quite a bit of activity going on today (5/22/20) regarding SB3066.  This law has it all – rent cancellation, government control of landlords, eviction moratorium, and eviction sealing.  This is going to HURT housing providers.  What if the State of Illinois passed a law allowing people to just take what they want from the 7-11 store because of Covid-19 hardship?  That’s what they are proposing here.  Government sponsored theft.

Let’s take a look at some of the key points:

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Invisible Evictions are Now a “Thing”

Your Alderman Has A Plan and You’re Not Going to Like It

A new phrase has entered the landlord-tenant vernacular.  “Invisible Evictions”.  A few days ago, Chicago’s local neighborhood news portal, blockclubchicago.org posted a story about “Invisible Evictions” allegedly perpetrated by developers in Logan Square and Pilsen.  The thrust of the story is that developers are quietly forcing renters out of those neighborhoods.  The author is quick to point out the injustice of this situation pointing out that the tenants have not “missed a payment” nor “broken any rules”.  This sounds TERRIBLE, right?!?  How can those nasty developers do this???  I’ll tell you.  The sentiment expressed in the article is representative of the war tenants’ rights advocates are waging against developers and, quite frankly, Western culture (yes, you read that right).  It is a battle between property rights and the in vogue claim that housing is a “human right”.  Let’s look closer.

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Breaking down the proposed Illinois Rent Control Act Part 3

What’s the Board going to be up to?

Now that State Representative Mary E. Flowers has re-introduced the Rent Control Act (this time in the State House of Representatives), it is important that we continue our breakdown of and commentary on this divisive and likely destructive proposed legislation.  I will no longer analyze the amended text of last years Senate Bill 3512 but will now be reviewing the proposed HB2192.  In this third part of our review

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Illinois Rent Control Act introduced by House Rep. Flowers

Anti-Landlord Measure back on the table

It’s back.  On February 7, 2019, 31st district state Representative Mary Flowers introduced House Bill 2192 establishing the the Illinois Rent Control Act to the state legislature.  I have not yet made an exhaustive review of the legislative text, but it looks shockingly similar to the second version of the bill introduced to the State Senate last summer.  It’s not good and

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Breaking down the proposed Illinois Rent Control Act Part 2

Digging a bit deeper

UPDATE: These provisions track with the newly introduced (Feb 9, 2019) House Bill 2192 introduced by State Representative Mary E. Flowers.  Changes in the law have been highlighted below.

Today, we will get back to making an examination of the proposed text of SB3512 (Amended 5/30/18). I want to quickly note that this bill is no longer pending before the Illinois legislature as a new legislative session began on January 9, 2019, but I would be surprised if the law was not reintroduced.  In this second part of our analysis, we will break down and examine sections 15 and 20.

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Amended version of Illinois Rent Control Act leaks…

I. Am. Shocked.

I have been writing recently about the efforts to impose rent control on landlords in Illinois.  I think this is a topic of the utmost importance to landlords, real estate investors, real estate agents, and mortgage brokers.  Rent control will undoubtedly shake all of the folks whose livelihood is related to the real estate world.

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