A Rare Win for Landlords. The Appellate Court of Illinois (First District) recently issued a ruling which addressed an issue that has long been of major concern to many attorneys representing landlords. And fortunately, the ruling affirmed a lower court ruling in favor of landlords. The issue at stake was whether or not a… Read more »
The US government recently passed a new law aimed at reducing dark money activities such as the financing of terrorist organizations and money laundering. This legislation, known as the Corporate Transparency Act (“CTA”) will be administered by the Financial Crimes Enforcement Network, otherwise known to most as FinCEN. It takes effect January 1, 2024. This… Read more »
Simply put, a syndicated real estate deal pairs a sponsor – the ‘syndicator’ – with a group of investors who have pooled their money for the sole purpose of buying real estate. The investors come to the table with money, while the sponsor comes to the table with the project (proposed land, building, concept etc.),… Read more »
If your Condominium Association is considering whether or not it’s time to update its Declarations and Bylaws, you should be aware of some recent updates in Illinois law. Associations interested in preventing the rental of units on short-term platforms such as Airbnb and VRBO should review the Declaration language regarding short-term rentals. Most will refer… Read more »
Some form of eviction moratorium has been in place for the last 18 months in Illinois. As one of the last remaining states with an eviction moratorium in place, the Illinois Moratorium expired as of October 4, 2021.
The new “Cook County Residential Tenant and Landlord Ordinance” creates hidden pitfalls that all existing landlords, as well as purchasers of multi-units in Cook County (except for Chicago, Evanston and other municipalities with home-rule landlord tenant ordinances), would do well to learn and avoid.
If it looks like your client is headed toward litigation over earnest money from a failed deal, understanding the principles of earnest money litigation is key to obtaining the best outcome. When it comes to earnest money, there are two major common misconceptions. Some people think that, if one party defaults, the other party… Read more »
In January of 2020, Cook County enacted an amendment to its Fair Housing Ordinance, referred to as the Just Housing Ordinance (JHO), which radically changed how housing providers in Cook County are required to approach their tenant application process. Since then, the world health crisis drew attention away from that development. But our firm,… Read more »
While at a standstill, evictions in Chicago have become overwhelmingly complicated. And with these new ordinances and, presumably, more changes ahead, it is essential to stay focused and informed. For more than 25 years, Erwin Law has been helping landlords stay up to date, avoid costly mistakes, delays and penalties, and protect their investments. For thoughtful guidance and counsel during these tumultuous times, call us at 773-525-0153.
Post-Shelter-In-Place: A Primer For Landlords – Part 4 in a Four-Part Series The ill-effects of the Coronavirus pandemic and subsequent Shelter-in-Place orders are becoming more and more apparent as they continue to trickle further down through our economy. Tenants unable to pay their rent are creating financial hardships for landlords working to pay their… Read more »