The Illinois legislature recently amended the Illinois Condominium Property Act with several changes designed to protect unit owners. Some of these changes are quite significant and will go into effect beginning on January 1, 2018.
Question: Can Condominium Boards Restrict Leasing Without Amending the Association Declaration? Answer: Maybe . . .
On February 3, 2016, the First District Appellate Court of Illinois issued an opinion in Stobe v. 842-848 West Bradley Place Condominium Association, a case involving a challenge to a condominium board rule imposing a 30% cap on leasing in the building. This opinion is of particular significance, as it is the first time in more than 20 years that the Illinois Appellate Court has spoken on this important topic of restrictions of leasing in condominiums.