Illinois Compiled Statutes 765 ILCS 745/6.4 – Rent Deferral Program
Current as of: 2024 | Check for updates
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A tenant or co-tenants may defer, for up to one year, payment of the amount by which the rent has most recently been increased if the tenant or co-tenants provide proof of inability to pay the increased rent amount by meeting the following requirements within 30 days of the date on which the tenant or co-tenants receive either a new lease or a notice of rent increase:
(1) The tenant or co-tenants attest, by sworn
(1) The tenant or co-tenants attest, by sworn
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affidavit, that they shall diligently proceed to list their mobile home with a licensed sales entity and market it for sale;
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(2) The tenant or co-tenants attest, by sworn
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affidavit, that the proposed new lease amount will exceed 45% of the tenant’s or co-tenants’ current taxable and non-taxable income, from whatever source derived; and
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(3) The tenant or co-tenants provide verification in
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the form of a tax return and other such documents as may be required to independently verify the annual income and assets of the tenant or co-tenants.
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If the tenant or co-tenants meet the above requirements, the tenant or co-tenants may continue to reside in the mobile home for a period of up to 12 months or the date on which the tenant or co-tenants sell the mobile home to a new tenant approved by the park owner, whichever date is earlier. The tenant or co-tenants must remain current on all rent payments at the rental amount due before the notice of the rent increase. The tenant or co-tenants shall be required to pay, upon sale of the home, the deferred rent portion which represents the difference between the actual monthly rental amount paid starting from the effective date of the rent increase and the monthly amount due per the rent increase notice without any additional interest or penalty charges.
Terms Used In Illinois Compiled Statutes 765 ILCS 745/6.4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC