Jane Addams Senior Caucus is proud member of the Lift The Ban Coalition that is advocating for economic well-being and stability for Illinois’ families through repealing the Statewide Rent Control Preemption Act of 1997, and establishing rent control for Chicago residents.
WHAT IS RENT CONTROL?
Rent control regulates how much a landlord can increase rent every year. With rent control landlords are still able to obtain an annual rent increase and earn a reasonable rate of return, while retaining long-term tenants who help maintain neighborhood stability and preserve the integrity of communities. Landlords may also include capital improvements in rent increases.
Modern rent regulations can mitigate the effects of speculative housing markets and skyrocketing rents, which contribute to the displacement and overall loss of low-income and working families from Chicago.
WHY DO WE NEED RENT CONTROL IN CHICAGO?
Chicago renters cannot afford the rising rents and many are getting displaced. A 2010 study by Depaul University estimated that about 55% of Chicago renters are rent burdened (paying more than 30% of their income in rent). A rent burdened household is unlikely to have enough income for other essentials such as food and medicine.
Chicago is seeing an increase in rent-burdened households because wage increases have not kept up with rent increases. Citywide, between 2000 and 2009, income fell 8.1% while the percent of rent burdened renters increased 10.1% to 54.6%.
Rent Control is also winning public opinion. It continues to win the support of voters throughout Chicago in the last several election cycles.
HOW WILL RENT CONTROL HELP SENIORS?
Seniors throughout the Chicago area are struggling to keep up with rent increases on a fixed income, being displaced from neighborhoods they’ve known all their lives, and unable to afford housing in their own communities. For seniors to be able to age in place with dignity, we need limits on how much landlords can raise the rent - so we’re fighting for rent control!
RENT CONTROL REPORT
A recent report shows how rent control will help nationally to address the Housing Crisis.
Using this link you can send an email to your State Senator and State Representative to let them know that you support Lifting The Ban on rent control!
To join JASC’s in our organizing to lift the statewide ban on rent control email Kelly@seniorcaucus.org or 312-787-2382 x 224