SFR institutional investors’ homebuying freeze set to thaw
Institutional investors reported net sales in the first half of 2023, but good fundamentals in the SFR market mean that’s unlikely to turn into a full exit.
The Landlord Retaliation Act extends tenant protections beyond those offered by Illinois's previous Retaliatory Eviction Act, which was passed in 1963. The original law only barred housing providers from evicting tenants for reporting code violations to government agencies.
The updated version covers a broader range of targeted tenant activities, including:
And it’s not just eviction that Illinois tenants will be protected from. Landlords and property managers also won’t be able to raise rent, cut services, bring lawsuits, or refuse lease renewals in response to these actions.
The passing of the Illinois Landlord Retaliation Act could inspire other states to revisit and strengthen their own existing landlord retaliation laws. Property managers should keep an eye on their local laws to remain compliant, as more states could soon follow Illinois’ lead.
More rental market headlines
The property manager’s playbook for hurricane season – PayProp blog
Aggressive, abusive tenants big challenge for property managers – Rental Housing Journal
How parking problems may be undermining your community’s reputation – Multifamily Executive
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