A new piece of legislation, Illinois HB3564, is making its way through the Illinois General Assembly, and it could have significant implications for landlords, property managers, and housing providers across the state. The bill seeks to cap or eliminate certain fees (such as application or move-in fees), limit security deposits to one month’s rent, require detailed disclosures, and more. While supporters say it’s about transparency and affordability, many industry voices warn that it would create burdensome constraints on property operations.
Illinois housing stakeholders must act now: HB3546 has been revived for consideration, and the vote could happen soon. We strongly encourage you to read the full story on PRG Management’s blog and learn the detailed changes proposed, how they could affect your business or investment, and how you can take action now.
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