Many owners of rental property in the City of Chicago are selling their buildings because the risk
Question:
Many owners of rental property in the City of Chicago are selling their buildings because the risk of being sued and having to pay major damages and attorney's fees to a tenant or former tenant for a technical violation of the Chicago Residential Landlord Tenant Ordinance ("RLTO"), is so high. How have (or how could) Chicago landlords changed their practices regarding collecting security deposits, to try to avoid the harsh penalties of the RLTO? Do the protections afforded to residential tenants in Chicago under said Ordinance go too far? Are the rights of conscientious landlords being trampled, in the interests of regulating and perhaps weeding out a few "bad apples" and "slumlords"? In responding to this question, cite at least two tenant protections provided under the ordinance.