Mayor Brandon Johnson’s legislation to overhaul the city’s Residential Landlord &amp; Tenant Ordinance faces pushback from local landlords. Crain’s commercial real estate reporter Rachel Herzog discusses with host Amy Guth.<br><br>Plus: Nation’s largest industrial landlord bets $100M on Chicago warehouse demand, AHA taps Massachusetts hospitals exec as next CEO, CME launches new beef contracts as U.S. cattle prices surge and Nuveen doubles down on grocery-anchored retail with $26M Park Ridge purchase.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fight over renter protections brewing in City Hall

Crain's Daily Gist

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**Podcast:** Crain's Daily Gist

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The nation's largest industrial landlord bets $100 million on warehouse demand in Chicago. And Mayor Johnson has teed up a fight with landlords over a new renter's rights ordinance. Housing is a human right. It cannot just be a rallying cry. It must be the reality for every Chicagoan. I'll talk about it with Crain's reporter Rachel Herzog.

The gist is that building owners are up in arms about this. They say it will make it more expensive to operate housing, especially for, you know, those smaller neighborhood building owners. I'm Amy Guth, and this is Crain's Daily Gist for Wednesday, July 1st. Looking to expand your business? Ready to turn that 10,000 square foot warehouse into 100,000?

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Mayor Johnson's renter protection ordinance is facing pushback from local landlords. Here to talk about it, Crain's commercial real estate reporter Rachel Herzog. Welcome back to the podcast. Always a pleasure to have you here. Hi, Amy. I'm happy to be here. So tell me what's going on with this ordinance and why it's facing all this pushback. So Mayor Brandon Johnson formally introduced legislation Monday morning to overhaul the city's residential landlord and tenant ordinance.

Some of the main provisions are requiring landlords to pay relocation assistance for certain lease non-renewals. It also caps and standardizes certain fees, sometimes called junk fees, that landlords can charge. A lot of other provisions and things in there. But the gist is that building owners are up in arms about this. They say it will make it more expensive to operate housing, especially for, you know, those smaller neighborhood building owners.

And you mentioned certain types of lease non-renewals. What would qualify? So to zoom out, this establishes just cause evictions. Landlords can basically only evict a tenant for non-payment of rent or certain violations. Something that tenant organizers, housing advocates say is happening is that some landlords are using no-fault evictions as a tool of gentrification.

So speculative investors raising the rent on an entire building in order to upgrade it to a luxury building. This is happening in gentrifying neighborhoods. So they're raising rent and it's with the intention of kicking folks out so they can get folks who pay more, in the words of these community organizers. So basically something that's in this provision is that landlords who don't renew leases for certain reasons other than raising the rent. Maybe they want to occupy it themselves. Maybe they want their parent to...

Fight over renter protections brewing in City Hall

Transcript

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Fight over renter protections brewing in City Hall

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.