Tips on househacking in Niles, IL

[Victor So]

Hello BP! I just closed on a 2-unit property in Niles, IL where I will house-hack by living in one unit and renting out the other. I also plan to airbnb my spare rooms for extra income. Before acquiring this property, I had my own condo where I rented a room through airbnb so I’m familiar with that process. However, this would be the first time being a landlord and, for those who invest in Niles, is there anything I should keep in mind in terms of local laws when renting out my unit? Also, I’ve noticed certain trends that I’m looking to go against but I’m not sure if this is a good idea. For instance, around my neighborhood, many units are not pet friendly. However, I plan on allowing pets in the unit for a monthly pet fee. Also, most landlords require a deposit. However, I plan on just charging a move-in fee. What’re your thoughts on going against the grain? Any advice would be appreciated! Thanks! Victor

[Kimberly H.]

I am in the Chicago suburbs as well. They do move in fees in the city of Chicago because of the stiff Chicago Landlord Tenant ordinance there. Unless Niles has one too, which I doubt, do a security deposit.

See if Niles requires rental licensing, all but one of the suburbs we are in require it.

Since Niles is in Cook County know that you can't say things like No section 8, that you won't take section 8, or deny an application because they have section 8.

Screen hard. A lot of liars in the pool of renters in our area.