Everything Landlords And Renters Need To Know About Cook County Rent Increase Laws
If you’re a landlord or renter in Cook County, it’s important to be aware of the local rent increase laws. These laws can help you avoid disputes and ensure that both landlords and renters are treated fairly.
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Rent increases can be a touchy subject, but they’re an important part of maintaining a healthy rental market. Landlords need to be able to increase rents to cover rising costs, while renters need to be protected from excessive or unreasonable increases.
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The Cook County Rent Increase Ordinance is designed to strike a balance between these two competing interests. The ordinance sets limits on how much landlords can increase rents each year, and it also provides protections for renters who are facing financial hardship.
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In this blog post, we’ll provide an overview of the Cook County Rent Increase Ordinance and answer some of the most common questions about it.
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What is the Cook County Rent Increase Ordinance?
The Cook County Rent Increase Ordinance is a law that sets limits on how much landlords can increase rents each year. The ordinance applies to all residential rental units in Cook County, including apartments, houses, and townhouses.
Under the ordinance, landlords can only increase rents by a certain percentage each year. The percentage is based on the Consumer Price Index (CPI), which measures the rate of inflation. For 2023, the CPI increase was 3.0%, so landlords can increase rents by up to 3.0% this year.
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What Protections Does the Ordinance Provide for Renters?
The ordinance provides several protections for renters, including:
What if a Landlord Increases the Rent by More Than the Allowed Amount?
If a landlord increases the rent by more than the allowed amount, the renter can file a complaint with the Cook County Department of Housing. The department can order the landlord to refund the excess rent and may also impose a fine.
What if a Renter is Facing Financial Hardship?
Renters who are facing financial hardship can apply for a rent reduction. To apply, renters must submit a hardship declaration to the Cook County Department of Housing. The department will review the declaration and determine whether the renter is eligible for a rent reduction.
Conclusion of Everything Landlords And Renters Need To Know About Cook County Rent Increase Laws
The Cook County Rent Increase Ordinance is a complex law, but it’s important for both landlords and renters to be aware of its provisions. The ordinance helps to ensure that both parties are treated fairly and that the rental market remains healthy.
