Landlord Resource Guide
Are you ready to be a landlord? Check out these resources below to learn about financing a 2-4 flat, legal information, and property management.
Property Management
Preservation Next Toolkit-Toolkit covering acquisition and rehab, green building, and property management for small multifamily property owners.
Property Owners Resources-Information for property owners on tenant screenings, lease agreements, renewals, renter rights, and more.
2024 Lease Template with Supporting Documents-Lease template including the Residential Landlord and Tenant Ordinance summary and hazard statements for lead-based paint and radon.
Rental Income and Expense Worksheet-Excel sheet for property owners to track expenses and rental income.
Avail Illinois Rental Application Guide– Information on what property owners should and should not include in a rental application as well as free application templates.
Chicago Rents Tenant Connect-Connect to tenants utilizing housing subsidy programs, helping property owners receive guaranteed rent, fill vacant units, and access individualized support.
CIC Property Management Training– CIC offers best-in-industry workshops and training to help current and aspiring owner-operators grow and strengthen their business.
Home Repair
Contractor Interview Worksheet– Questions to ask your contractor during an estimate.
Home Maintenance Worksheet– Seasonal maintenance checklist.
Additional Dwelling Unit (ADU)– Guide on conversions, code compliance, permits, and budgets for the construction of basement units.
DIY Property Repairs– Simple repairs that can be done without a professional
Habitat for Humanity– Home maintenance tutorials and workshops
Legal
Residential Landlord and Tenant Ordinance– The ordinance covers most rental properties located in Chicago except units in owner-occupied buildings with six units or less; most units in hotels, motels and rooming houses; dormitories, shelters, employee’s quarters, and non-residential rental properties; and owner-occupied co-ops.
Fair Notice Ordinance– The ordinance increases the amount of notice a landlord must give to non-renew or terminate a lease, or to raise a tenant’s rent. The ordinance also extends the amount of time during which a tenant may end an eviction filing against them by paying the rent they owe and their landlord’s court filing fees.
Just Housing Amendment– Prohibits housing discrimination based on an individual’s covered criminal history; and requires landlords considering an individual’s covered criminal history to perform an individualized assessment of an otherwise qualified individual’s criminal conviction history prior to denying them any application for housing.
Fair Housing– The Illinois Human Rights Act prohibits discrimination based on identity factors.
The Safe Homes Act– The Safe Homes Act provides numerous housing protections for Illinois victims of sexual violence and domestic violence who live in rental property. For instance, a victim can ask to have the locks changed at her apartment or terminate her lease early following a sexual assault.
Illinois Legal Aid– Legal resources for tenants and property owners covering foreclosure, evictions, and lease agreements.
Cook County Legal Aid for Housing and Debt– Hotline for evictions, defaults, lawsuits, and other legal inquiries for tenants and property owners.
Law Center for Better Housing– Free legal and supportive services for income-eligible renters.
Center for Conflict Resolution– Mediation training and services for tenants and owners to avoid eviction.
Chi City Legal- Empowering landlords with legal guidance to navigate leases, evictions, and disputes.
Property Taxes
Exemptions– Pamphlet on property tax exemption eligibility, how to apply, and details on how exemptions can impact your property tax bill.
Appeals– How to file a property assessment appeal with the Cook County Assessor’s office.
Certificate of Error– How to apply for missing property tax exemptions and submit a certificate of error.
Grants
Purchase Assistance
Illinois Housing Development Authority– Up to $10,000 in down payment and closing cost assistance in the form of forgivable and zero-interest loans.
NHS Chicago– Up to $30,000 in down payment assistance for income-qualified buyers.
Home Repair
City Of Chicago– Up to $10,000 in roof and porch repair grants for income-eligible homeowners.
NHS Chicago– Up to $45,000 in home repair grants for income-qualified owners in high-priority neighborhoods.
Elevate– Free lead risk assessment as well as grant funding to remove lead paint hazards.
Home Energy Savings
Chicago Bungalow Association– Free energy assessments and recommendations for energy-saving products (single-family and two-flats only).
State Of Illinois– Free solar panel installations for properties housing renters that are below 80% AMI.
CEDA– Heating and electricity bill assistance for income-eligible households.
NHS Chicago- Up to $180 in bill credits for income-eligible ComEd customers.
General Resources
Budgeting– Utilize this free worksheet to create a monthly budget and learn more about fixed and variable expenses.
Department of Housing – Has a wealth of resources for 2-4 owners to take advantage of.
Important Questions to Ask Your Home Inspector-10 questions compiled by HUD to ensure an equitable inspection.
Webinars and Workshops– Learn about the homebuying process, achieving financial security, avoiding foreclosure, and more.
Mortgage Relief Scams– Learn how to avoid mortgage relief scams, review options for legal representation, and report fraud.
Consumer Financial Protection Bureau– The CFPB provides educational tools for managing finances and debt, ensuring you are treated fairly by lenders when buying a home, and more.
Working with a Lender
U.S. Bank – 2-4 units
Liberty Bank – 2-4 units
Chase Bank – 5+ units
NLS – 2-4 units
CIC – 5+ units
C3 Fund – Offers Acquisition and Rehab Loans ranging from $75,000 – $500,000