All Forum Posts by: Atul Mohlajee

If the lease term ends in November, does the rule for no evictions in winter still apply (Chicago has no evictions December thru February). If the tenant refuses to leave despite of a 30 day notice to move and told that lease will not be extended and the lease ends on November 30th? Please respond?

Which suburbs you are in? I have SFR's, 2 Flats, Condos in Oak Park, and Forest Park, and never have a problem renting quick. Invitation Homes and other professional landlords are generally higher priced. I price at market rate and lower in two weeks if no application filled.

Thanks everyone.  I was looking at Humboldt Park in 6 months time.

All Chicago investors, please respond. Brie you invested on North side. Any ideas?

Thanks

Would be attending.

What are upcoming neighborhoods in Chicago? Ones that are going to happen Logan Squares, Wicker Parks, and Bucktowns of tomorrow. Looking for buy and hold landlording and willing to wait for appreciation turnaround for 5 to 10 years.
Please give your thoughs. It is getting harder and had=rder to find deals in my neighborhoods.

I just bought a townhome last month in Oak Park, total cost including rehab is 130000.  Just put it for rent at 1550.  It is little over 1%.  Bought a single family home in Oak Park in 2011 total cost 160000 foreclosure, currently renting for 2400, clearly 1%, appraised for 330000 last month.  Bought a single family home in Forest Park in 2013, $140000 total cost and renting for 1550.  But in today's date it is almost impossible to make numbers in both these suburbs.  I lucked out in the townhome in Oak Park because it was an estate sale, and I bought it cash on day one it was on market and my realtor knew that since it was her boss's listing.  I am not in market to buy anymore because costs are too high except some day I sell single family homes and get a multifamily.

She just gives excuses that she was sick and had to pay medical bills.  But I doubt that.  If she delays rent, she can let medical bills go to collection.  I talked to her last week and she says that all three of them still have same jobs and she will be on time next month but that never happens. Then she has all kinds of drama, she was bringing rent but is staying at her friends house 40 miles away due to storm, ATM did not work properly, car broke down, had to work late, came to town late late night, money order machine at 711 did not work, and there is a never ending stream of excuses.  She pays a few installments of rent every and so far has completed rent payment at the last date of the month.  She is nuts and is driving me crazy. I would rather have her out at end of lease and deal with other tenants who put rent in mailbox regularly and I talk to them once every few months if there is a maintenance issue etc.  She is in 40's and has a grand kid.  Never picks up phone and keeps texting me all her plans and excuses.  My inbox gets full with her messages at the rent time which extends to two weeks or more.  I only call her on promised date if she does not pay on that date.

Thank you all for really great input. So far they have paid every month with never having payment to trickle into next month. I would continue to work with them untill first instance of nopay and file at that time. They have great upkeep of premises and no other issues. I will switch to a month to month lease and 10-15% raise in rent as they have been told and do not mind. They love the place and never want to move and I am about 5% below market rent as rents have been escalating especially this year. I will file eviction as soon as they miss the rent for one month and it trickles into next month.

I agree to non-renewal. But knowing this tenant, I believe she will overstay even after non-renewal. Will it be easier to get her out after lease completion as compared to eviction for non-payment of rent? I might have to evict her even after lease ends and I declare non renewal of lease.