On Monday, Illinois State Representative Delia C. Ramirez (HD-4; East Village, Noble Square, and parts of West Town, West Humboldt Park and Hermosa) announced legislation in collaboration with Senator Robert Peters (SD-13th; the far East Side, Hyde Park, Bronzeville, the South Loop, Streeterville and parts of the Gold Coast) and numerous community and policy advocates including the Right to Recovery Coalition, the Lift the Ban Coalition, the Shriver Center on Poverty Law, and the Lawyer’s Committee for Better Housing.
The COVID-19 Emergency Renter and Homeowner Protection Act seeks to provide relief and protections for renters and homeowners during and after the COVID-19 pandemic by:
OUR STANCE
We OPPOSE proposals that would, in effect, have the government take over all rent and mortgage payments as extreme — as are efforts to impose “regulatory clusters” like Rent Control, making “source of income” a protected class under the Illinois Human Rights Act, and just-cause eviction statutes. These ideas have a proven track record of reducing the supply of rental stock, reducing property values, and generally increasing the overall cost of living in the municipalities that enact them. These laws would set Illinois’ real estate industry back instead of spurring growth and investment and do not provide the needed long term sustainable solution.
Learn more about the affordable housing measures we’ve proposed.
CAR has taken a leadership role in the
Chicago Housing Solidarity Pledge, encouraging our members to work with tenants on a case by case basis. Landlords may consider one of the options in the Pledge.
Below is our reaction released to
Crain’s:
During these unprecedented times, both ends of the spectrum need assistance: property owners and tenants. The best way for us to navigate this crisis is by working together, now and in the months to come. Several layers of protections are in place to protect tenants and encourage tenants and landlords to work together; just last week, the Chicago Association of REALTORS® stood with Mayor Lori Lightfoot to endorse the Chicago Housing Solidarity Pledge. We’ve heard from our members that they are working with their tenants to find solutions.
Mortgage forbearance only temporarily eases a portion of the financial obligations of property owners. Forbearance is not forgiveness. Furthermore, it doesn’t eliminate ongoing property taxes, maintenance and utility fees, which the city relies on and which are coming due. Property owners and landlords are an essential part of our communities. We believe the best way to navigate this crisis is to continue to work collaboratively with lawmakers and community stakeholders for positive outcomes for private property owners and Chicago’s neighborhoods.
CAR and Illinois REALTORS® continue to monitor this legislation and will keep you apprised of any developments.