Illinois House Bill 116 would repeal the Rent Control Pre-emption Act, making it legal in Illinois for municipalities to regulate rent prices through ordinances or resolutions. This would mean that renters and small landlords alike could advocate for themselves for fair and reasonable rent increases.
The ban on rent control has proven beneficial for large realty companies and tragic for renters and mom-and-pop landlords.
People are priced out of their homes and properties at the whims of these companies that manipulate the housing market without regulation.
This bill would open the door for a discussion of fair rent; a conversation long overdue. As wage increases continue to lag behind rent increases, 47 percent of Illinois renter households are rent-burdened (paying more than 30 percent of their net income toward rent alone) and face the risk of losing their homes if prices continue to soar.
Meanwhile, large realty companies turn a blind eye to the hurt they impose on communities in favor of turning a profit.
It’s time renters, small landlords and homeowners all stood together for fair rent increases. Contact your local representatives and demand their support for HB 116.