Are you an investor owner who rents out your condo unit?

If so, there is important information you need to know about the recently passed Fair Notice Ordinance for Chicago residential properties. 

All leases or tenancies that expire on or after 9/20/20 must give the following notices to the tenant for termination, non-renewal, or rent increase:

1. If a tenant has resided in the property for, or has a lease term of fewer than 6 months, you must provide 30 days' notice of your intent to terminate, a notice of non-renewal, or intent to increase the rental rate.

2. If a tenant has resided in the property for, or has a lease term between 6 months and 3 years, you must provide 60 days' notice of your intent to terminate, a notice of non-renewal, or intent to increase the rental rate.

3.  If a tenant has resided in the property for, or has a lease term of more than 3 years, you must provide 120 days' notice of your intent to terminate, a notice of non-renewal, or intent to increase the rental rate.

Additionally, the Governor will be extending the order banning the filing of new eviction cases and the enforcement of the order of possession until 8/22/2020. 

There is pending litigation to overturn this Order.  

For pending eviction cases, there is a chance that the court may continue all the cases until after 8/22. 

Until the order expires, you can 

  1. File and proceed on commercial evictions
  2. File evictions for tenants that pose a direct threat to the health and safety of other tenants or the property.
  3. Serve 5 day, 10 day, 30 day, or non-renewal notices on tenants. In Chicago, you will need to follow the requirements for the non-payment of rent. 

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