Illinois  |  Real Estate Law

Legal Question

Asked on: 2/25/00, 9:10 am

Collection of 2 to 3 year old rent balances

Due to an experience with gross mismanagement of a former rental property management firm, residents of our cooperative are now being assessed with past due rent balances from 1996 and 1997. Some of the discrepancies involve Section 8 subsidies and collection of incorrect rental amounts, and some are due to simply collecting the wrong amounts. None of these residents were notified until late 1999 and early 2000 that they had balances. Can these be collected. We do not trust the advice of our coop attorney, as his wife currently owns the new property management firm and is interested in collecting receivables for profit. He did however, mention the word "estoppal" and how residents may be able to successfully fight these charges. Any advice?

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