Thursday, June 11, 2020

Mayor Beetlejuice is out of touch with the realities of real estate ownership

thinking about waiving the summer tax bills too
Mayor proposes moratorium on eviction of tenants strapped by pandemic
The mayor’s plan would prohibit landlords from evicting without first waiting five days for the tenant to deliver a “Notice of COVID-19 impact” that outlines job loss, reduced hours or other extenuating financial circumstances.


By Fran Spielman Jun 10, 2020, 10:28am CDT

Chicago Mayor Lori Lightfoot is proposing some protections for renters who face financial hardship due to the coronavirus pandemic. Ashlee Rezin Garcia/Sun-Times



Chicago landlords would be prohibited from evicting tenants whose finances have been impacted by the coronavirus pandemic without first trying to negotiate with them, under a mayoral plan tailor-made to stave off a wave of evictions.

With Cook County judges poised to resume eviction and foreclosure hearings on July 6, Mayor Lori Lightfoot has crafted a so-called “eviction protection” ordinance to slow down those proceedings. The City Council’s Housing Committee is poised to approve the plan Monday, followed by a full Council vote Wednesday.

The mayor’s plan would prohibit landlords from evicting without first waiting five days for the tenant to deliver a “Notice of COVID-19 impact” that outlines job loss, reduced hours or other extenuating financial circumstances tied to the pandemic.

“If at any time prior to or during this five-day period, the landlord receives from the tenant a notice of COVID-19 impact, the landlord shall wait an additional seven days [negotiation period] after expiration of the five-day … notice of termination before filing either an eviction action against the tenant or maintaining an action for rent and/or damages,” the ordinance states.

The negotiation period may include: accepting a repayment plan that “amortizes each missed rent payment over not less than 60 days”; submitting the matter to mediation or binding arbitration; applying the tenant’s security deposit toward the unpaid rent or providing the tenant with an “opportunity to move out,” the ordinance states.

If no agreement is reached and the landlord initiates eviction proceedings, they would first have to prove to the court that “reasonable attempts” were made to negotiate with the struggling tenant.

On April 23, Gov. J.B. Pritzker issued an executive order discouraging evictions during the stay-at-home shutdown triggered by the pandemic. Lightfoot’s so-called eviction “moratorium” would remain in place 60 days after expiration of the governor’s executive order.


Chicagoans who have seen their jobs and paychecks disappear during the pandemic have been crying out for rent relief and talking about a rent strike to push their demand.

What they’ve gotten so far from Lightfoot is a non-binding “Housing Solidarity Pledge” signed on April 29 by residential housing groups, landlord associations and lenders to show “flexibility and restraint” in dealing with one another during this unprecedented time of hardship to prevent the pandemic from triggering another wave of foreclosures.

Participating landlords have agreed to offer tenants grace periods with terms that “avoid repayment at the end of the deferral period.” They also promised to waive late fees for missed payments and allow renters who miss payments to amortize those payments over time.

The City Council passed the mayor’s plan to triple — from 30 to 90 days — the advance warning landlords must give their tenants before evicting them or refusing to renew their leases. In addition, tenants would get $2,500 if forced out by demolition or remodeling.

And the Lightfoot administration has earmarked a healthy chunk of the $1.1 billion in federal stimulus money it has received so far for housing programs. That includes: $39.6 million for homeless services; $16.5 million for housing assistance; and $1.5 million for housing for persons living with HIV/AIDS.

There also was a rental assistance program, offering 2,000 grants of $1,000 apiece. But it was not nearly enough to meet demand — there were 83,000 applications.

The question now is whether the so-called “moratorium” on Chicago evictions will be enough to appease housing advocates who have clamoring for more protection from City Hall.

13 comments:

  1. Larry has turned into a complete disaster. Now she/he somehow found 5 million dollars to give to illegals, but not 1 penny to the gutted out businesses that were left completely unprotected during the "peaceful" marches for the martyr (thug) Floyd

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  2. Anonymous6/11/2020

    The people of Roseland are also out of touch. Demanding that once beautiful Michigan Ave be rebuilt after looting destroyed what was left.

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  3. Anonymous6/11/2020

    Mayor Little Larry has smoked to much weed and has drank to much Hennessy. He is burnt, unable to make common sense rational decisions. DEFUND Little Larry and send him back to Ohio. The Aldecreatures need to step up and take control. Little Larry is incapable of governing

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  4. Little Debbie is crazy. I bet she owns no rental properties. How about this get the government out of contracts. The Government's meddling is the clause of 80% of all problems, its solutions cause the remaining 20%.

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  5. Roseland's Michigan Avenue was destroyed, in one or more of these aldermanic administrations:

    Dominic Lupo (19??-1971)
    Alexander Adduci (1971-1979)
    Robert Shaw (1979-1983)
    Perry Hutchinson (1983-1987)
    Robert Shaw (1987-1999)
    Anthony Beale (1999-present)
    :(

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    Replies
    1. Dominic Lupo (1959-1971)

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    2. Anonymous6/12/2020

      RS and PH.

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    3. Anonymous6/13/2020

      AA and RS

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    4. Anonymous6/14/2020

      AA did his best, but by 1972 the tide had turned. His constituents had moved on out. He only won in 1975 by 100 votes and winning reelection in 1979 was impossible due to demographic change. Gately's hung on till about 1981 and burned down last year. The once grand Ave exists today in name only.

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  6. Anonymous6/11/2020

    It already takes almost 6 months to evict someone in cook county, even longer now with the courts shut down, yet the mayors storm troopers in streets and sanitation keep writing $500 dumpster tickets and the building department issuing citations for things like weeds. Yes let's put landlords out of business and let the buildings go vacant as they go into foreclosure.

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  7. Anonymous6/11/2020

    Chicago turning into Detroit . Even the Northside Mony mght no

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    Replies
    1. Anonymous6/12/2020

      Losing energy at the end.

      Delete
  8. You may hire a property manager to do most or all of this work. However, for a novice investor, this is seldom ideal. Management fees can take a big bite out of your investment returns. Many novice real estate investors put a lot of "sweat equity" into their property by doing much of the work themselves. real estate to rent

    ReplyDelete