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Updated almost 4 years ago,

User Stats

3
Posts
0
Votes
Mootah Kpebane
  • Rental Property Investor
  • Omaha, NE
0
Votes |
3
Posts

Duplex rental lease agreement in Illinois

Mootah Kpebane
  • Rental Property Investor
  • Omaha, NE
Posted

Hello- My name is Zask, first time posting here. After listening and reading posts. This forum is the most educational site I have seen.

I just acquired a duplex in Moline, Illinois that has a long-term tenant. This person has been renting one side for over 20 years. He mows and takes care of the snow removal. His rent is $260 below the area rent. What pieces of advice do have for me?

1-Do I need property management since I am an out-of-state investor?

2- Should I negotiate the rent with him and let him continue taking care of the lawn and snow removal with no property management involvement?

3- Have him sign a new lease and hire someone to take care of the yard and snow?

4- What’s your preferred app for lease and rent collection?

Please share any information or methods that have worked for you as you invest out of state.

Thank you

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