BILLS AFFECTING COMMUNITY ASSOCIATIONS IN THE 98TH GENERAL ASSEMBLY INTRODUCED IN 2014
THIS DOCUMENT PROVIDES A GENERAL SYNOPSIS OF VARIOUS BILLS THAT AFFECT COMMUNITY ASSOCIATIONS THROUGH AUGUST 31, 2014:
THE FOLLOWING BILLS PASSED BOTH HOUSES AND HAVE BEEN SIGNED INTO LAW:
HB 4782 (Rep. Cassidy) LEASE OF UNITS AFTER POSSESSION.
This bill amends the Illinois Forcible Entry and Detainer Act regarding leasing of units by associations. The bill provides that an association may enter into a lease at any time within 8 months of expiration of the stay on its possession order.
The lease entered into may not exceed 13 months. Currently the statute provides that the term of a lease entered into by an association cannot exceed 13 months following the expiration of the stay of the order of possession.
This amendment to the Act will aid association in leasing units by affording more time to complete any necessary repairs and locate tenants.
This bill signed into law on August 18, 2014 as Public Act No. 98-0996.
Please refer to the latest legislation for updates on dates and deadlines.
CAI - Illinois Chapter
The Illinois Chapter of Community Associations Institute serves the educational, business, and networking needs of community associations in the Chicagoland Area. Members include condominium, cooperative, and homeowner...
Read more
