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Updated about 4 years ago on . Most recent reply
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What penalty fees can I charge? (Chicago)
Hi All,
How and what am I allowed to charge in the way of penalty fees to tenants in Chicago? Our rental is owner-occuipied, so I'm really just thinking about 1) fee for pet that is not on the lease (we allow pets), 2) fee for trashing/not cleaning up the common spaces (yard/stairwell) 3) fee for storing items in utility rooms/inappropriate places outside the unit.
Can I do that? I'm not trying to be a tyrant, but after reading through the CRLTO (which yes, I know, doesn't apply to me) it seems like all I can do is sit pretty and wait until the end of the lease, or evict (which is a HUGE PAIN in Chicago.
All thoughts are appreciated. Currently playing around with the free DOMU lease.
Most Popular Reply
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@Esther Page - I would not use the DOMU lease, even if you are exempt from the RLTO now. If you ever move you could be in violation. Use the Chicago realtor lease, just search the files at www.biggerpockets.com/files and look for Chicago lease 2020. I put the new one up every year
- Brie Schmidt
- Podcast Guest on Show #132
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