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March 9, 2017 Comments Off on Will Rent Control Come to Chicago? Views: 283 Illinois, Midwest, National News

Will Rent Control Come to Chicago?

Rent control has been banned in the state of Illinois since the mid-1990s. One state legislator, however, thinks it should be permitted in Chicago and other areas that are experiencing sharp rent increases due to gentrification.

State Representative Will Guzzardi of Illinois’ 39th District, sponsored HB2430 to repeal the Rent Control Preemption Act, and give municipalities the power to initiate rent caps. Rapid rent increases throughout the Windy City have been forcing low-income people out of their homes and neighborhoods.

There are those, however, who believe rent control will mean misery. Brian Bernardoni with the Chicago and Illinois Realtors associations noted that rent control simply hasn’t worked when initiated. Additionally, he indicated that it tends to discourage investors from spending on housing upgrades and maintenance, and even new rental housing construction.

Read More at Crain’s Chicago Business

Connect with Rep Guzzardi

Read About HB2430


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