Legal Question in Real Estate Law in Illinois
How do you determine a pro rated rent amount based on the poor conditions of the home in Illinois. My landlord is a property management company that is managing our home because it is in foreclosure. There are many standing code violations and much needed repairs that the landlord says the bank wont approve payment for, so he offered us a pro rated rent until we move in 6 months and we have already paid three months in full to him. How do you determine what the percentage of the house is considered unlivable based on repairs that will not be made.
1 Answer from Attorneys
You're not serious, right? Let's start with the fact this forum can't give advice without a complete understanding of the facts. For example - are any children involved? Because you're saying you'd compromise safety for a rent reduction? Let's not go there.
There is no such formula. If the unit violates code it may be untenantable and therefore worth nothing, and you should make a final demand for repairs under the Illinois Residential Tenants' Right to Repair Act with the help of an attorney and/or declare a constructive eviction and move out.
Among other things if there are safety issues that you are aware of and you or any visitor is injured, YOU may wind up being held liable for 'comparative' negligence.
Beyond that, what a unit is worth is a matter of market conditions and negotiations.
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