Latest news with #LandlordsandTenantsAct
Yahoo
14-04-2025
- Business
- Yahoo
Illinois House bill bans move-in fees, but landlords fear higher rents
ROCKFORD, Ill. (WTVO) — The Illinois House that would ban landlords from charging 'move-in' fees, but property owners are worried the bill, if it becomes law, would create new problems, including higher rent costs. 'I mean, okay, so it's saying that they can't charge certain fees. Okay. So what they're going to do then is they're going to build … it into the rent aspect,' said Rep. John Cabello (R-Machesney Park), who opposed the bill. 'So, the rents are going to go up.' amends the Landlords and Tenants Act to prevent landlords from charging 'for the processing, reviewing, or accepting of an application, or demand any other payment, fee, or charge before or at the beginning of the tenancy.' 'I exclusively use a move-in fee instead of a security deposit because my move-in fee is considerably less than an actual security deposit,' said Tim Jenkins, organizer for Rockford Real Estate Investors. 'And I've noticed that helps a lot of residents. So it really is a cost saving measure for them.' The bill also limits the amount landlords can charge for a late fee, with a $10 maximum for the first $1,000 owed, something Paul Arena, of the Rockford Apartment Association, said he worried could drive up delinquencies. 'The majority of rents here are under $1,000, and a 1% late fee is insignificant,' he said. 'It will drive up delinquency and cause more landlords to fail. What they're effectively saying is the tenant can pay late, and the landlord has to bear the financial penalties for the tenant's lateness.' Jenkins added that if the bill does pass in the Senate, it will send ripples throughout the renting community. 'I think you're going to flush out a lot of the established landlords who have decades of experience. They're going to say, look, I've had enough,' he said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
09-04-2025
- Business
- Yahoo
Illinois House passes bill banning move-in fees for renters
SPRINGFIELD, Ill. (WTVO) — A new bill, passed by the Illinois House on Tuesday, would prevent landlords from charging new tenants a 'move in' fee. amends the Landlords and Tenants Act to prevent landlords from charging 'for the processing, reviewing, or accepting of an application, or demand any other payment, fee, or charge before or at the beginning of the tenancy.' Language in the bill also prevents landlords from renaming a fee to circumvent the proposed law. The bill also makes it clear that landlords cannot use a lease, rental agreement, or contract to place a 'move in' fee on new applicants. The law does not affect security deposits but does restrict landlords from performing a credit check on potential renters. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
