All Forum Posts by: Curt Thomas

I never see anything talked about or written on the proper way to conduct an Annual (or bi-annual) inspection on a rental.

Conducting the inspections without charging the tenant for maintenance (if) needed seems pointless. 

On move in, we charge a non-refundable move-in fee in place of security deposit - because of tough tenant-friendly laws in Chicago on SDs.

We have in our lease addendum that we will conduct bi-annual inspections. We will video and take pictures of items that need fixing beyond normal wear and tear. 

Do you just fix those items and bill the tenant afterward, or charge them first then come back out to fix after approved? 

Where is the line drawn on normal wear and tear on items like chipped flooring, ripped screens, evidence of unapproved pets, broken hardware/fixtures? 

Here are a few items we came across recently.

Is the 2022 Chicago Residential Lease out yet? 

Also, does anyone know when the CHA typically releases their new year rent standards? Hoping to see a big bump this year. 

I know with the eviction moratorium many were just trying to deal with late-paying tenants internally.

Now that eviction is back on the table; do you still issue a5-day notice/start the eviction process? 

IL-Cook County is its own beast. Thanks for any feedback. 

I have a partial payment (less than half) and the tenant said I'll get Feb rent, but he couldn't pay it yet (didn't elaborate, but reason shouldn't matter if it's done like a business, right?). Now 9 days late; late fee went onto his account after 5 days. 

Looking to do a HELOC on a property I own outright. I heard community banks would have the best rates for HELOCs. Anyone have a referral/suggestion?

@John Warren You say you CANT just give them a month's notice. Is that dependent on how long they've been there? I heard recently if they've been there over X years they need 3 months notice. 

Thank you!

If you go past the date on a lease, what happens?

Specifically the Realtors' Chicago Residential Lease. 

If you're fine having it turn into a month-to-month, do you have to 'renew'?