Nearly two dozen Illinois REALTORS® met Friday in Chicago to discuss approaches to a possible effort to impose rent control in Illinois.
The meeting held at the Chicago Marriott Medical District gave association members a chance to get a legislative update by Senior Vice President for Government Affairs Greg St. Aubin on prospects for rent control legislation which is anticipated to be considered in the Illinois General Assembly.
Rent control was outlawed in 1997, in large part due to the work of Illinois REALTORS®.
The association has been against the measure for a number of reasons, not the least of which is that the policy would decrease property investment and result in less housing availability.
Illinois REALTORS® President-elect Ed Neaves told those attending that rent control was a “fundamental threat to private property rights.”
The meeting had representatives from a number of local associations, all of which are concerned about the impact a rent control policy would have on housing accessibility.
Illinois REALTORS® lobbyists have been working to make sure lawmakers understand the dangers of rent control. They testified at a series of state Senate hearings on the issue held around the state in the summer and fall.