Laws are constantly changing in the real estate industry. We need to stay active on Real Estate Legislation to make sure that we comply with new laws, and work with legislators to make the laws fair for all sides.
CCIA promotes a strong ethical standard in the Real Estate Industry. We work to make sure that investors and landlords have a voice whenever possible, promoting fair and balanced legislation. Real Estate Investors need to join and support an association like ours. Your contribution will allow our association to fight for you to limit the impact of bad laws and promote more laws that are beneficial laws for your business.
CCIA is a Chapter of The National REIA. National's legislative council is our advocate in Washington, DC. National REIA shares information relevant at the state and local level.
CCIA is also a Founding Member of The Illinois Rental Property Owners Association - IRPOA. IRPOA's Political Action Committee is the leading advocate for landlords and investors in Springfield, and offers a platform for investors in groups around the state to work on local issues.
NON RENT-CONTROL BILLS WE'RE WORKING ON:
OPPOSE: SB1379 - Property Tax-Income Producing Property - Already on the 2nd reading in the Senate - requires owners of income producing property to provide and Income and Expense Data to county assessor. (Status: Passed in the Senate- Contact Your Representative)
OPPOSE: HB-2838 - Illinois Wage & Payment & Collection Act - Provides authorization for third parties owed fringe or other benefits or a joint labor-management cooperation committee to bring a civil action to enforce liability against a direct contractor. Waivers of Lien from general contractors are no defense. (Status: Passed in the House - Contact Your Senator)
OPPOSE: HB-2299 - Eviction - Seal & Impound Files (Status Rule 19(a) - stalled)
OPPOSE: HB-0926 - Human Rights - Source of Income (Status Rule 19(a) - stalled)
OPPOSE: HB2217 - Property Tax-Income Producing Property - It would require income producing property to provide an Income & Expense data sheet annually to the county assessor. (Status Rule 19(a) - stalled)
TAKE ACTION - WHAT SHOULD YOU DO?
Landlords & Renovators... you must be aware of the laws regarding led. The EPA has an extensive website to guide you. Lead Safety & Outreach Materials.
CONTRACTORS: Learn about the RRP Program Requirements & where you can get trained. Details
Federal Law requires owners of pre-1978 housing to give the "Protect Your Family From Lead" booklet to prospective tenants before a lease is signed. Get your Copy Here.
The City of Chicago is committed to providing residents with the best information to protect themselves from bed bugs. Go here to find out more information about the ordinance.
The 2019 Illinois security deposit interest rates remain unchanged at .01%
Illinois is one of many states with its own fair housing law. If you're renting your units, your tenants are covered by the Fair Housing Act or FHA, a federal law that protects both existing tenants and prospective tenants from illegal housing discrimination. LANDLORDS: You must be educated on this! Read More
What do you need to know about property flipping and FHA home loan rules? The first thing to know is that flipping is addressed in the FHA loan handbook, HUD 4000.1 and there are measures in place to discourage the practice! Read More