SPRINGFIELD, Ill. (WICS) — State Senator Natalie Toro is working to keep Illinoisans in their homes by implementing rent control policies to better protect tenants.
Senate Bill 3484 would repeal the Rent Control Preemption Act, allowing local governments to begin adopting rent control policies. With rent control in practice, the nearly 1.6 million tenants across the state who live in rental properties will no longer face radical increases when renewing their lease, providing them more housing and financial stability.
Rent control limits the amount a landlord can raise a tenant’s rent at the end of their lease, which is usually tied to the rate of inflation. With gradual rent increases that are common under rent control, tenants are able to stay in their homes for multiple years. However, the General Assembly passed the Rent Control Preemption Act in 1997, which prohibits local governments from passing rent control ordinances.
“Fifty percent of renters in my city are paying more than 30% of their income in rent, leaving little leftover for other essential expenses,” said Toro (D-Chicago). “We need to fight to keep families in their homes, and I look forward to spearheading the initiative to do so.”
Senate Bill 3484 awaits further discussion in the spring session.
City: Quincy
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February 12, 2024 at 09:58AM
