Back in the game, getting ready to inherit tenants

[Soniel Estime]

Hope everyone had a great holiday!

I had a duplex that I sold in 2021, now I’m getting ready to get back in the game. Last time I placed the tenant myself. They were someone I knew so placing them and managing them was super easy.

This time I will be inheriting tenants, and in a city like Chicago I want to make sure I do everything right.

1. What steps should I take now, to prepare for inheriting these tenants?

2. What’s the best way to get a very good lease (I used rocket-lawyer last time)

3. What’s the best way to find a good handyman (I did a lot of the repairs myself last time, but want to be more hands off now).

4. Any recommendations on a good property management platform? I’m planing on using Rent Ready, if you have used it please let me know your experience with the platform.

Thanks so much, let’s have this year be the best year ever!!

[Kyle D Birch]

I self manage 7 units on the south side so my perspective…

1. Did you already close? If not ask the seller to provide bank statements showing on time/full rent payments. My sister in law pressed a 3 flat in cook county a year ago and the owner said all tenants paid on time and in full. They were lying and all 3 tenants had to be evicted. The process took a year and a ton of lost income. The list goes on but this is the first thing that came to mind.

2. use the Chicago Area Realitor’s Association lease. They provide here free on BP.


3. I have a good handyman, but depends on the area and the need. Also ask around the forums, lots of Chicago guys with connections.
4. I use Zillow. They screen tenants and let you upload leases to sign digitally. I have had really great luck with them and it’s only $10 a week for a listing. I have always had a tenant within two weeks. 

Where is the property located? 

Congrats on getting back in the game!