All Forum Posts by: Aaron Macken

Just talked to the PM. The renter says he will pay rent until we find a new tenant, which is good. The property management company isn't going to price gouge by charging me another tenant placement fee which is awesome.

The security deposit will cover the turnover fees, and any loss of rent.

We're going to work on keeping the out-going tenant happy while we find a new one.

Hopefully next one goes a bit smoother!

@Drew Sygit @Dave Poeppelmeier Good points, I'll talk to my PM today and see what we can work out.

@Theresa Harris Good input, I'll be sure to discuss this with the PM tomorrow!

@Margaret Pattillo Yeah I checked the contract, if tenant breaks the contract he can choose to go month to month at a +$300 monthly amount.

The $1950 placement fee was pro-rated for a 1 year lease. 11 days / 364 days = 3%

3% of $1950 is like $60.

So I'm thinking the property management company should refund me that amount that I was charged and we go to a month-to-month amount.

Wondering if anyone has had an experience with forcing a lease agreement? Intuition tells me it could turn out bad.

Hey guys, I just listed my first property for rent in Grayslake, IL. 

I went with Dillon Property Management, and they did their due diligence on the tenant and claimed they were a good fit.

The tenants move-in date was October 1, 2022. The tenant is now saying that he broke up with his girlfriend that he moved in (both on the lease), and his ex-wife said he can move back in with her.

I paid the property management company 1 months rent as a tenant placement fee $1950, and the lease was for one year. So I paid $1950 for a tenant to occupy my property from October 1st- October 11th?

Should I enforce the lease and risk the angry tenant trashing my property? Should I let him break the lease? 

Any advise is much appreciated!

- Aaron

Looking to get into wholesaling for myself and would love to meet some people who are walking the walk in the North Eastern Illinois area. If you have time to chat and talk about your experience please feel free to reach out :) 

Thanks Stephanie. Sounds like it could be a pretty big risk if the worst case scenario could ever happen. I'll keep that in mind. Thanks!

Hey investors,

Browsing the MLS and I see a home that's listed as "Legal Non-Conforming".

After a quick google it sounds like this home isn't up to code, but it's dated so it has been "grand fathered" in so to speak. 

Any experience with homes like this? Should they be avoided all together?

Hey investors,

Just wanted to pick some peoples brains with this question. But was there a point in time where you decided to spend less time on the MLS & start pursuing off market campaigns? What caused you to make this decision & how was the process overall?

Hey all,
Closing on my first duplex in February. Wanted to ask what you all look for in a landlord insurance policy. From what I've read so far, you want to look for a policy that covers: property damage, liability / umbrella policy, replacement of rental income incase of disasters.

Thoughts?