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Rental Licensing Ordinance

What is a “Rental Licensing Ordinance” is a sense to Police landlords. Skokie a suburb of Chicago wants an Ordinance that will require property owner and/or property managers to pay per rental. It is $10 per unit for property managers and $25 for owners. I don’t thing they fees overlap its one or the other.

Is this good? The city would like to use the extra money to hire police and monitor and educate property owners. More police in the starts can reduce crime.  It can be good but what will happen is the expense will be passed along to the tenants. That is bad for them.

That is a debate that is up for vote in a few weeks.

While In the County up for debate is the Voucher program (section 8).

The County wants if you turn down a Voucher participant to be a human right violations. Since the government works so fast (sracasim) some don’t want to rent to Voucher participant. Is that good or bad it is all up to the building owner. Could this lead to more litigation due to turning down someone that want to rent your place? Oh and be a human right violation.

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This is one of the reason as investor you should be keeping up with what is happening where your real estate is. Not knowing can lead to expenses not accounted for.

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