All Forum Posts by: Jay Garrison

I will not budge on my requirements, but I have dropped the price to make it more competitive. The bedrooms are small and that was a dealbreaker for many of the potential tenants, so I went down to $1100. I have been showing it for almost 3 weeks now, and I figure that the reduction in rent will be offset by getting tenants who can meet the requirement in sooner. Plus of course the lost $$ for the time it would sit empty must be factored into it. My thinking was, “don’t let perfect be the enemy of good”.

@Patrick M - has the reduction in price led to an uptick? I still have another unit to finish renovating and rent out, so that helps mitigate the slight sting of lowering the rent.

I am renting out a 3 bedroom apartment on Chicago's Southwest side. The steps in the tenancy process are:

     1) application (personal info, current address, former, job, a personal reference) and last 2 paystubs

     2) A Transunion Smartmove background check, which is $40 and the tenant pays. I tell them I don't want perfect credit or a certain credit score, I am looking for bankruptcies, repos, evictions.

     3)   first month + one month security deposit - I make sure to explain why I think a security deposit (as opposed to a non refundable move in fee) is beneficial for both parties and everyone assures me they don't have a problem with a security deposit

Potential tenants A took an application and texted me the next day, asking if they could email it in. I said sure. I never received it nor heard from them again, despite two days later texting them to see if they were still interested. When they came by they were in love with the place, assuring me they would be awesome tenants etc.

Potential tenant B was a leasing agent who promised to send me her credit score and said she could give me the move in fees within days. She told me the school nearby would be awesome for her daughter, she loved the patio and I promised to put in a washer dryer hookup for her. I texted her two days later asking when she would send the credit report, and she never replied back. 
 

3 college students came in, filled out applications and expressed strong interest in moving in before the fall semester started. I contacted one two days later to tell her the place was available and ask her if they were still interested; if so could they sent their paystubs in. She said they were, and would send me paystubs ASAP. Days later, and I haven't received or heard anything.

Is this kind of thing common? Am I making an errors in my handling of the process? The neighborhood where the unit is has few rentals and even fewer that are newly renovated, and my rent is the going rate for 3 bedroom in this area. Thanks!

Hello,

I have  a building I just purchased with two 3 bedroom units and I'd like to offer a laundry room option, but the coin operated machines are really expensive. I don't want to invest that much and then the tenants don't use it or don't use it much. I was thinking about getting a stackable washer dryer (much cheaper option) but not sure how I might regulate it's use or how to charge. Any suggestions?

@Geoffrey,    Thanks for that info! 

@John, I don't have a realtor, it's just a small building so I am trying to handle this myself. 

Hi,

I just bought a two flat with garden unit and I will live in the garden unit and rent out the other two. I would like to find a good lease for my future tenants. Any recommendations?

Hi,

I have two three bedroom units in an old brownstone building; all the windows are really tall and it would be difficult to reach the top to pull down a cordless blind. Trouble is, corded blinds are increasingly difficult to find, and I know that some municipalities are frowning on them/outlawing them. 

Would you go with cordless blinds in this situation? Custom made corded blinds for each window would be expensive.

Thanks!

Hello,

I need someone in the New City area of Chicago (south side just north of Englewood) to help with electrical work (lighting around the garage, faulty fixtures) laying tile (kitchen floor and bathroom) and sanding a hardwood floor (if it can be salvaged). Thanks!

@John Warren

I am in New City, near Sherman Park on the Southwest side. Thanks!

Hi,

I am looking for a hardwood floor guy for a two flat on the southwest side. Any suggestions? Thanks in advance! I am getting two units ready for rent and want to spiff the place up.