All Forum Posts by: Ralph Hunter

Illinois landlord/tenant laws do not require notice of termination. If you are under the Chicago ordinance, they require 30 day's notice. Honestly, I believe it is good business practice to let your tenants know that you will not be renewing the lease. You do not have to supply a reason. The legal contract has been fulfilled. 

Here is a link that will give you more information:

I represent a property management company in the Raleigh/Wilmington, NC area. We realize that as a PM, we are part of the ownership team. Our mission is to help ensure our clients make money and that their properties cash flow to the best of our ability.

The real estate industry has changed and so should we. Companies need to be more service driven and less about sitting on their duff and watching the income come in. That is why we offer our property owners three levels of services. 

If an owner just wants us to find them a qualified tenant - no problem. There is a one-time fee for a one-time service. If an owner wants us to ensure they get a good tenant and that the rent is collected on-time every month but they want to handle the maintenance and repairs. No problem, we offer a semi-service plan. If an owner wants full service, then that is what we provide. 

In this way, the property owner gets exactly the level of care and service that they want. Offering services a la carte puts the decision making process in the hands of the owner. They know exactly what we will be doing to protect their investment and they know exactly what they are paying for. 

I agree. If you are accepting rent, then you have a month to month tenancy and the landlord laws will apply.

Mold, or most likely simply mildew, is going to be a common problem in a bathroom. I have found that a 10% bleach to water in a spray bottle works great. Every couple of days, just spray the surface and let dry. Works like a charm. 

I have written a couple of blog articles that may give you a few practical suggestions. Here are the links:

• The Fall Maintenance List
• 5 Ways to Lower Winter Utility Costs
• How to Keep Your Home Safe During Winter

Well, I did a little searching of Florida rental law and I cannot find anything either way. You could charge the pet fee and remove it from the deposit. I would have photographic proof and perhaps samples of the dog hair as a backup. The tenant has 15 days to protest the charges. But... a real estate attorney would have a more direct answer. 

Paypal is an easy way to encourage online payments. But once a direct deposit is set up with their banking system, they can schedule the rent to be automatically deducted. As long as the money is there, the tenant doesn't have to worry about it and neither do you. You will just need to supply your basic banking information to allow your tenants to set it up. 

I have to agree with these posts. Working to keep your existing tenants and reduce vacancy is going to be by far the best way to maximize your income. That means that we have to create a home environment for our tenants by offering amenities that they would want in their own home. 

@Max James I love the setup. Sounds like a great option. Though your laundry and housecleaning seems low. Even at 2x a month, you could probably end up paying a house keeper $50 a shot, adding $100 a month for the rent not including the laundry service.

As to furnished units. Well, I would first see if there is demand for such. Then you have two options. Keep you eyes open for nice used furniture and keep one unit worth in storage. I would set it up in a vacant unit and take high quality pictures to show perspective tenants. 

Another option would be a rent-to-own company. You just tack on your share above and beyond the rental fee. Then after the 12 month lease, they have a buyout option.

 Be aware that though owner occupancy is a great way to get a lower interest rate and live "rent free." A lender on your second purchase is not going to let you owner occupy two properties. You will most likely need to refinance your first property in order to use that card again. That is if you do not stay their for the required 12 months. 

If it is a community garden that everyone in the building likes, then I would put a statement in the lease. Something to the effect of if the garden is not maintained and becomes an eyesore (i.e. full of weeds and overgrown) the owner, or their agent, will provide 15 days notice to remedy. If it is not cleaned up by the 15 days, the owner reserves the right to remove the garden and return it back to grass.