Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

79
Posts
44
Votes
Hoa Nguyen
  • Edwardsville, IL
44
Votes |
79
Posts

Required documents to be a landlord

Hoa Nguyen
  • Edwardsville, IL
Posted

Hi everyone, I'm looking to start off my real estate investor career. I'm putting together my gameplan and my goals, but I've hit a road block that for some reason isnt clear anywhere I do research. And that is the required licenses, documentation, and legalities of renting out a property. Do I need a broker's license, do I need a permit? I live in illinois and I realize that different states have different laws. So if anyone from Illinois here knows what I need to get started that would be awesome!

Most Popular Reply

User Stats

830
Posts
508
Votes
George Skidis
  • Rental Property Investor
  • Belleville, IL
508
Votes |
830
Posts
George Skidis
  • Rental Property Investor
  • Belleville, IL
Replied

1. No broker's license is requred unless you wish to manage property for someone else.

2. Whether or not you need a license depends on which community you do business in. Alton yes. Cahokia, no. Every city is different. Check with their code enforcement or housing department.

3. Once you have a property to rent make sure you insure it as a RENTAL property and not owner occupied unless you live there also.

4. Join Illinois REIA. We meet in Cottage Hills, by Alton on the first Monday of each month and Belleville, IL on the third Tuesday.

5. You will also need an atttoney you can afford. PM me for details.

  • George Skidis
  • Loading replies...