All Forum Posts by: Carole M.

I had a washers/dryers in the basement of the 2 flat and this was used by both tenants. Both were more than 10 years old but worked just fine. I replaced the hoses to both washers and dryers and the machines worked like new. It cost $85.00 for new hoses for 4 machines and labor by the handyman.

I have used Landlord Kits. These kits include a Pet Policy and Pet Rider. I attach this to the lease and it covers all aspects of owing a pet including vaccinations etc. These kits can be gottne in Office Supply Stores or Online.

In some homes there is hardwood flooring under carpets. If you have hardwood instead of concrete, then I would sand and polish the hardwood. If you have concrete, I would put laminate or hardwood over the concrete. Carpets get dirty and carry allergens and many people prefer to put their own area rugs.

I have found through being on a Condo/Townhome Assn Board that putting satellites on the roof can invalidate the existing roof warranty. Our townhomes must get Board Approval for the installation of any satellites, otherwise they must remove them and subject to fines .

I also co-managed/co-owned a 2 flat in the city and we had new roof put on. In order to keep the roofing warranty valid, the satellite dishes had to be put on the side of the building. Also, one of the tenants wanted cable, so they got permission to install and I had to sign authorization to the cable company to authorize this installation.

I rented to 3 college students (all ladies) and never had a problem. I had all tenants fill out an application which included employment/credit history and references. All 3 signed the lease. When one moved out, they secured another renter and they signed the lease, and also filled out an application. I found that the parents usually assisted with the rent (as I received rent checks from parents). They were very clean, quiet and stayed for a few years.
I did not check references as my gut with these ladies told me they were responsible and they proved same.

Paul S

I personally woudn't own rental property without a LLC as the LLC provides asset protection. If you have a partner, then an LLC is essential as the Operating Agreement spells out the terms and conditions. If you can get a copy of an Operating Agreement you will see just how detailed it is. A call to a CPA and an Attorney would be advisable.

There have been many posts recently on condos. One important point to think about is do you want to have complete control over your investment. With condos, there are boards, rules etc and assessments. If you want freedom to do what you want with your investment, then condos is not the way to go.

Austin is a very high crime area and is not safe to walk the streets. Humboldt Park may be somewhat better. You really have to get hold of a local realtor in Chicago and tour the area. Personally I would not buy in an area I would not feel safe walking in.

Is this a SFR or multi-family dwelling? The ceiling is definitely water leakage from above and the source of the leak needs to be fixed. Mold is another issue and insurers get scared with water damage and mold...... You really want to keep these issues out of public records.

Water damage and mold issues wiill cause cancellation of insurance and future ability to secure proper insurance coverage.

Your local municipalty usually has limits on number of occupants per bedroom. It would be wise to check this out.