Duplex rental lease agreement in Illinois

[Mootah Kpebane]

Hello- My name is Zask, first time posting here. After listening and reading posts. This forum is the most educational site I have seen.

I just acquired a duplex in Moline, Illinois that has a long-term tenant. This person has been renting one side for over 20 years. He mows and takes care of the snow removal. His rent is $260 below the area rent. What pieces of advice do have for me?

1-Do I need property management since I am an out-of-state investor?

2- Should I negotiate the rent with him and let him continue taking care of the lawn and snow removal with no property management involvement?

3- Have him sign a new lease and hire someone to take care of the yard and snow?

4- What’s your preferred app for lease and rent collection?

Please share any information or methods that have worked for you as you invest out of state.

Thank you

[Nicholas Z.]

I'm also an out-of-state investor with properties in the Quad Cities. I highly recommend getting a property manager, at least until you learn more about local laws and dealing with tenants. They could advice you on how to deal with your current situation, as well.

My perspective: I agree with @Nathan Gesner in that I don't believe in reducing rent for work. It eliminates a lot of the complexity when you know the tenant is going to always be paying $X every month, and you don't have to worry about the, "I thought we had agree on $30 for that work, so why is your rent $50 short?" type of situations. Pay the same rent, every month, and then have them invoice you at the end of the month for work they've done. You can always dispute the work invoice while ensuring your rent is still coming in.

Definitely get a new lease setup. Always have everything in writing as a landlord because if there's any disputes and need to go to court, you'll want that documentation.

I don't use any rent collection apps myself (my property manager collects rent for me) but I know others who use Cozi and Rent Redi.

Good luck!