{"id":544897,"date":"2010-04-27T16:04:27","date_gmt":"2010-04-27T20:04:27","guid":{"rendered":"tag:typepad.com,2003:post-6a00d8341c60fd53ef0134802f7058970c"},"modified":"2010-04-27T16:14:56","modified_gmt":"2010-04-27T20:14:56","slug":"city-renters-could-get-security-deposits-back-in-foreclosures","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/544897","title":{"rendered":"City renters could get security deposits back in foreclosures"},"content":{"rendered":"<p><em>Posted by Hal Dardick<\/em> at 3:03 p.m.<br \/><\/br><br \/><\/br>Thousands of apartment dwellers who stand to lose security deposits because of building foreclosures would get their money back under a proposed ordinance a City Council committee approved today.<br \/><\/br><\/p>\n<p>Mayor Richard Daley\u2019s proposal would require all lien holders \u2014 typically banks \u2014 in foreclosure cases to pay back security deposits to tenants who are pushed out of their homes.\n<\/p>\n<p>Under current city law, the landlord and not the lien holder is responsible for paying back the security deposit. That often doesn\u2019t happen, said Ellen Sahli, first deputy commissioner of the Community Development Department.<br \/><\/br><\/p>\n<p>Last year, more than 8,500 rental units were affected by foreclosures, according to city statistics. With an average security deposit of $860, up to $7.3 million was lost, Sahli said.<\/p>\n<p>Ald. Bernie Stone, 50th, proposed an amendment that would have given landlords 14 days to remedy alleged landlord-tenant ordinance violations related to the handling of security deposits.<\/p>\n<p>As it now stands, if a landlord returns a security deposit just one day late, and the tenant sues, the landlord must pay twice the security deposit, court costs and legal fees, according to supporters of the amendment.<br \/><\/br><br \/><\/br>But critics said the 14-day remedy period would encourage landlords not to comply unless someone filed a formal complaint during that period.<br \/><\/br><\/p>\n<p>\u201cThe amendment proposed by Ald. Stone today would, I believe, benefit landlords at the expense of tenants the (landlord-tenant ordinance) has protected for over 25 years,\u201d Sahli said.<\/p>\n<p>After hours of testimony from landlord and tenant organizations, the<br \/>\ncommittee sent Daley&#8217;s proposed ordinance to the full council for a vote next month, but failed to vote on Stone&#8217;s amendment.<\/p>\n<p>Stone appointed a subcommittee to consider his amendment and an alternative offered by Ald. Helen Shiller, 46th, that would have only granted the 14-day remedy period to miscalculations of interest owed on security deposits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Posted by Hal Dardick at 3:03 p.m.Thousands of apartment dwellers who stand to lose security deposits because of building foreclosures would get their money back under a proposed ordinance a City Council committee approved today. Mayor Richard Daley\u2019s proposal would require all lien holders \u2014 typically banks \u2014 in foreclosure cases to pay back security [&hellip;]<\/p>\n","protected":false},"author":3992,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-544897","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/544897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/3992"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=544897"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/544897\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=544897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=544897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=544897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}