You gathered a pile of applications for your rental property. You narrowed it to several finalists and, after screening a few backgrounds, you finally settled on the best candidate for your next tenant.
Now, that tenant is backing out of the lease at the very last minute. What should you do, besides tearing your hair out?
It depends on whether or not the tenant signed your lease agreement, and whether you obtained a Hold Deposit. Also, did your lease include an Early Termination clause?
Know the answers to these questions before reading further - they matter!… Read More »
You want your tenants out and you want them out today. You have been more than patient, your tenants are taking advantage of you, and things are only going to get worse.
So, why can't you just kick them out immediately? Wouldn't any judge understand that eviction is appropriate under these typical scenarios?
• Tenants haven't paid rent in months.
• Tenants let other people move in and never told you… Read More »
When you’re thinking about entering the market as a landlord, the considerations are many. Before you get caught up in the minutiae of advertising the property, making cosmetic upgrades, or screening for the perfect tenant, be sure to consider the paperwork that may need to be completed before you may legally rent your unit. The requirements to move a tenant into a property vary greatly by municipality. A landlord should be prepared to encounter a… Read More »
Applicants for your rental property completed their forms, agreed to a background checked and showed you recent pay stubs to verify their income. You've met with them and have a good feeling in your gut. It's decision time, right?
Well, not quite.
You have a few more questions to ask before you should sign a lease with these applicants. But the answers are only a phone call away. Obtain your applicant's permission, and then… Read More »
Carrie Kirby and her family faced a tough choice when they left Chicago in 2012 to return to California. The Chicago Tribune columnist wrote about having to decide between selling her and her husband's Illinois home at a loss or becoming landlords. They chose the latter.
Many homeowners confront this same scenario, as circumstances force a family to move.
It could be landing a new job, searching for better schools… Read More »