All Forum Posts by: Nancy P.

We rent to former neighbors whom we are quite fond of.  We wanted $1600,  they could afford $1400.  (They spent most of their retirement money paying for son in law's cancer treatment.) We know they won't move until at least one of them passes or needs a nursing home,  this condo they are in is handicap-friendly all the way through and that's a damn rare thing around here.  They were in their mid 80's when they moved in September 2016.  We figured it wouldn't last long...those two might outlive us despite being our parent's age.  They are going strong.  But we are fine with it.  There is more satisfaction for us in doing the right thing than in a little more money.  YMMV.

As real estate investors who began with buying foreclosures in 2010,  here's my take on it.  So many people lost their homes in the crash that there were MORE RENTERS,  keeping rents up despite the recession.  When things got better,  rents settled (not dropping, but not rising for a while), and the values of our properties increased.  Of course we mostly bought foreclosures at first,  so they never dropped much.  We do not worry about recessions or crashes in real estate.  We do worry about our state -Illinois- taxing people so much that they leave in ever greater numbers,  which will lead to both lower rents and lower property values.  But recessions, no.

Hm....I had a couple with one dog very interested in a 3 br plus windowless study.  Swore it was only them.  When I mentioned my good friend lived on the other half of the duplex (a complete lie on my part), they disappeared.....I agree with Ned,  keep an eye on her.  But hopefully she just wants a lot of storage/office space.

@Joe Splitrock I seriously don't understand the categorical statement "has a neutral or negative effect".  I know for a fact it has brought me two good new tenants on the recommendation of existing ones.  I have received gifts from the LL as a renter,  it always warmed my heart WITHOUT turning the relationship from business to personal.  We give gas cards, like rent reduction,  they are always welcomed in our car-dependent city.  I'm happy to be on the Santa side.

It's about five miles away.  Same town,  we are close to downtown, and the train station.  But they have  Golden Doodle so I'm sure they'd want the yard.  Again,  not going to do it....just resolved that I'm not spending my old age in THIS house.  The stairs seem to be done wrongly...they are quite narrow front to back AND steep.  Stairs in general don't hurt nearly this much.

I'm in Illinois,  but not Cook County.  If I were to do this,  it would be BEFORE the lease began.  Depending on the tenant's current situation,  it might or might not be a hardship for them.  (I happen to know their current lease ends January 31st,   If I were to break it today...is it really a hardship?  I would assume a little more leaning towards the tenant's rights here.  But in the case above,  the judge didn't even ASK if I had found a tenant when she took me to small claims court,  about 2 1/2 months later.  Just awarded it to her.  So I'm not going to do it,  I'm not a jerk even if I knew I was coming back here soon.  Was just idly wondering.  Thanks for the responses.

My husband's W2 job is in the oil business, we give $25 gas cards.  I believe this goodwill pays off.

This is just a "what if" scenario.  We are probably moving back to the US next year.  Currently in US and the townhouse we downsized into is simply killing my hip.  Steps to the front door,  three times as many to back door (to carry in groceries.)  On icy days it's really a pain.  In the meantime,  we have just had tenants sign a lease on a similar sized ranch duplex with a small yard.  (I have a back patio that is 90% concrete, ugh.)  They put down only security deposit,  will pay first month's rent on 1/1/20 and move in.  I find myself thinking wistfully that I'd like to move in THERE and out of HERE.  I'm not going to do it,  there is too much in the air for us just now. (As in we might not be moving back here next year.)  I'm just  idly wondering what legally would be required if I did do it.  I once had a tenant pull out three days after putting down her deposit.  (Job transfer she claimed.)  I tried to keep her deposit as she cost me marketing time,  she took me to small claims and won.  Judge said she didn't move in,  so I really didn't suffer damages.  (Someone ended up moving in a week later so he wasn't wrong.)  I'd have to return the deposit, of course.  But could I be legally forced to give them the promised property?  Can landlords cancel as easily as that previous potential tenant did?  Again,  just idly wondering.  Anyone ever done it?

Reasonable is defined by local standards and perhaps a judge, if it comes to that. Where I own, Chicago suburbs, it's 2 people per bedroom and children under one don't count. I wouldn't want to argue with local code enforcement as to what is reasonable. I'm glad your lease is legal, but what we're discussing is screening /application policy. The people I know who got in trouble are from an REI group I was in before moving to Germany. One I don't know what happened, Was I left the country), the other paid a $10K fine, attorney fees, and a good deal of his time.

For us,  it's the single professional who lives alone,  age 28-35.  Never need repairs except for things that are at the end of their lives anyway,  never clog the plumbing, never piss off the association,  rarely have dogs  (since they work a lot.)  But they stay maybe 3-4 years and then purchase.  But they all willingly obey the lease terms that say I can show it the last 30 days (many other tenants have made it impossible and have therefore lost their deposits).  They like a 2 BR to have a home office.  I don't think I'll ever branch out into bigger properties.