CHICAGO — The city has filed a lawsuit against Vision Property Management LLC for allegedly committing unfair practices while selling homes to lower-income families in Chicago.
The mayor’s office released the complaint claiming that the property company lured customers into signing “rent-to-own” agreements for neglected or “dilapidated” properties.
The statement says the agency failed to reveal true conditions of the properties and having the buyers take care of home repairments while treating them as tenants.
The city also said that Vision Properties charged customers for property taxes on their homes but failed to remit the payments to the county which caused many individuals to lose their homes.
“Defendants’ actions misled consumers by burdening them with all the responsibilities of homeownership and none of the benefits, while also denying them the legal protections to which residential tenants are entitled,” Corporation Counsel Mary Richardson-Lowry said.
The complaint alleges the company violates consumer protection laws, seeking restitution for Chicagoans. The city is also looking for an order to prohibit Vision from selling or leasing property in Chicago.
“Under my administration, we will not tolerate our Black and Brown communities to be further exploited. Those who try to take advantage of our city’s workers and working families will be held to account,” mayor Brandon Johnson said.