Senator Portman (R-OH) worked hard to get a deal done on additional COVID-19 relief, and was a key negotiator on housing related issues, especially the Emergency Rental Assistance, detailed below. The bill passed with only a handful of Senators and several Congressmen opposing it. The bipartisan package authorizes a second round of PPP loans for the hardest hit small businesses, additional unemployment benefits, support for health care providers, additional funding for vaccine development and distribution, funding for testing and tracing, and funding for a litany of smaller programs.
The $25 Billion will be parceled out in a block grant to states on per person share with funds likely arriving by February. Additionally, cities and counties with populations over 200,000 will receive a direct allocation of the Emergency Rental Assistance funds. This new set of funds will have the following guidelines, mainly due to leadership by Senator Portman, providing for a block grant that is pretty hands off and gives states lots of flexibility. But there are a few key guardrails:
Congress also passed fiscal year 2021 appropriations (for the fiscal year that started October 2020) with increases for many of the regular housing and homelessness programs administered by HUD and the USDA. The spending bill likely provides enough funding to renew existing contracts for the Housing Choice Voucher program and Project-Based Rental Assistance. Congress also increased many other HUD programs for 2021.
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 property owners have a voice whenever possible, promoting fair and balanced legislation. Real Estate Investors need to join and support associations like ours. Your contributions allow our association to fight for you to limit the impact of unfair laws and promote more responsible legislation on housing.
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 a leading advocate for rental property owners and investors in Springfield, and offers a platform for investors in groups around the state to work on local issues.
COVID-19 Rent Collections and Eviction Moratorium
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legislation, landlord rights, and other news about rental properties in Illinois.
June 30th 2020: Lawsuit Challenges Governor Pritzker's Eviction Moritorium
June 26th 2020: Pritzker’s eviction moratorium challenged by Rockford landlord
June 2020: Rent Cancellation Battle in Springfield
2020 Paperwork for Evictions
Unfortunately with the new Chicago laws passed 6/17/2020 and again in July, all 5-Day notices (or any demands for unpaid rent) served on Chicago tenants after 3/20/202 are voided. IT IS CRITICAL TO HIRE A PROFESSIONAL AT THIS TIME. CCIA Legal Resources Page
Cook County Residential Landlord Tenant Ordinance - RLTO
Just Housing Cook County
Rules effective 12/31/19: JUST Housing Rules
2019 Illinois Wholesaling Law
Several New Laws took effect January 1, 2020. Visit www.ilga.gov to read the details.
NON RENT-CONTROL BILLS WE'RE WORKING ON (Still Active as of August 2020):
TAKE ACTION - WHAT SHOULD YOU DO?
Real Estate Investors, Landlords & Renovators... you must be aware of legislation 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