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This month's 'Legal Lowdown with Tom' covers 3 new laws, as well as the Sheriff's announcement on Cook County's Eviction Moratorium. Continue reading for helpful information on how this impacts your business, as well as additional resources from Halsted Law Group.

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Reusable Credit Reports

The New Law

Landlords must accept tenant-provided reusable credit reports (prepared within 30 days by a third party in compliance with state and federal laws) at no cost to themselves or to the tenant. Link to legislation, here.‍

What now?

‍This law was enacted to reduce the repeated cost burden on applicants when applying for a new home. By providing you with a recent copy of their credit report, the applicant gets to bypass your application fee. However, the law is clear in that you can still screen them using your normal screening system, but you just need to waive the application fee.‍

Tom’s thoughts on this...

‍Due to the upward trend in application fraud (ID & paystub fraud), you may want to accept & archive the applicant’s self-provided credit report, but also have them re-apply on your normal screening platform & waive their application fee. That allows you to stay compliant with the law while also protecting your assets. 

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Illinois Flood Disclosure

The New Law

Landlords must disclose, in writing, any flood risks or history, before the lease is signed. This includes flooding of the property, parking lots, and/or “lower level units” (aka garden units), in the past 10 years, actual knowledge of flooding, and whether the property is in a FEMA flood zone. Link to legislation, here.

What now?

Include the Flood Disclosure in your leases starting Jan. 1 2025. For now, download and save this Sample Disclosure and let’s also wait for the Realtors Lease or BlueMoon Lease when the new versions come out in the new year. 

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Alternate Payment Options

The New Law

If a landlord uses a third-party payment portal to collect rental payments from tenants and if a transaction fee is imposed through the portal, then the landlord shall allow the tenant to make rental payments by delivering a paper check or cash to the landlord. Link to legislation, here.

What Now?

‍Train your staff to accept cash, checks or by other means that do not require a tenant to pay a transaction fee. This law does not require you to turn off your pay portal. It just allows the tenant a 2nd or 3rd option to pay rent. Most tenants will continue to pay electronically and have no issue paying that convenience fee.

Cook County Eviction Winter Moratorium

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The pause on sheriff eviction removals in Cook County is now set: 12/16/2024 to 1/6/2025. 

Also, if the temperature drops below 15 degrees or weather conditions are extreme, the sheriff will reschedule the eviction for a later date.  Last year, the winter weather was pretty mild allowing the Sheriff to stay on schedule for the most part. 

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