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All Forum Posts by: Christina Martinez

Christina Martinez has started 2 posts and replied 12 times.

I have an investor who is going in with me on a Flip, we applied to Spectrum Funding group. He has experience with previous flips, we both have great credit scores 740+ and the 25% downpayment. The credit checks came back fine but when they did a background check on me the found a bankruptcy that happened in 1999 during a divorce and they are holding that against the type of terms they are willing to offer. They want a years worth of reserves based on a bankruptcy that happened over 20+ years ago. Is there a place that they can be reported because I have never heard of anything like this before. The advertised and initial requirements have all been met. Honestly mad I let them do a hard credit pull and now they are changing the rules. 

Originally posted by @Mark F.:

@Christina Martinez - also be aware that the Illinois supreme court determined that a daily late fee is not reasonable. I had two different evictions in Kane County, my standard lease had a $25 late fee after the 5th of the month then $10 per day daily fee. The Judge struck down the majority of my late fees saying that imputing a late fee per day was not allowed and cited this case. My leases now have a standard 10% late fee assessed after the 5th.

https://courts.illinois.gov/r23_orders/AppellateCourt/2017/5thDistrict/5160153_R23.pdf


Just fyi for any landlords in Illinois.

Mark

Great information thank you Mark!!! I dont think i can change the lease to reflect the above, but i will definitely do that for all future leases..

Originally posted by @Mary M.:

If this were my tenant, I would first think about how clean the unit was upon turnover - i personally ensure a new tenant needs to do zero cleaning upon move in. I also would reflect upon wheter i laid out to them when rent was due, the grace period, etc 

Then i would either text or call and remind tenant that rent is due on the 1st and that late fees of x begin on the 5th (or whatever legal time frame you select). Then i would give the tenant the benefit of the doubt this first time, but be prepared if there is a next time. I also would let the $100 go if i could not remember if the bathroom was spotless when tenant moved in  

There is usually a way to turn negative situations around. It all starts with how one responds and interacts with folks. I know that kind of thing is frowed on here on BP ;) 

The place was clean as i stated in another post that i personally swept and mopped and cleaned the baseboards on my hands and knees. 

Your comment about clearly stating when rent is due and grace period upon signing is highlighted in yellow as the lease is being discussed. He signed the lease under no duress. A contract is a contract and we are all adults and have to own up to the things we sign if we werent paying attention or listening, i should not suffer the consequences of that.

This tenant is not going to last as today he threatened me and i am a professional and have done everything in a professional manner. You cant win them all. Will go all the way to evict this one- just offered him his deposit back if he moves out by the end of the month.

I have been more than accommodating and fair but draw the line as being taken advantage of based on my gender. I still feel that because i'm not a man in this instance he views me as being weak. Especially by the comment" you a nice lady and all" ugggh!!!!

I have been a landlord over 9 years this is my first experience with this particular scenario.

Thanks for your feedback!

Originally posted by @Alan Beron:

If you wish to give him a notice, the appropriate one to use is a 5-day notice. The notice needs to have the correct language and must be delivered by one of the four allowed methods of delivery for it to be valid in Cook County. Your lawyer should be able to provide you with the notice for free or a small fee and explain how it needs to be delivered.

I advise you review the statutes pertaining to late fees in Illinois since they require a five day grace period before a late fee can be charged. I agree with Joseph above regarding the amount of the late fee, $10 is quite low. The purpose of the late fee is to encourage the tenant to pay rent on time, and if funds are limited, to pay rent before paying other bills. If your late fee is $10 but his credit card late fee is $36, who do you think will be paid last? There are statutory limits to how much of a late fee can be charged, but I think $10 is too low to fulfill it's purpose.

As others have advised, it's wise be firm, especially since the tenant has only been there just over a month. You don't want to set a precedent that he can get away with what he wants regardless of what the lease or the law says. Best of luck!

 Great advise.. Your the only one who read thoroughly what i asked which was which type of form to serve. I appreciate your feedback. I think this tenant is going to be a lemon, he just threatened me today, 

Actual verbiage from lease: ( I should have stated that clearly)

. Delinquent Rent. If not paid on the 1st, Rent shall be considered overdue and delinquent on the 2nd day of each calendar month. If Tenant fails to timely pay any month’s rent, Tenant will pay Landlord a late charge of $10 per day until rent is paid in full. If Landlord receives the monthly rent by the 3rd day of the month, Landlord will waive the late charges for that month. Any waiver of late charges under this paragraph will not affect or diminish any other right or remedy Landlord may exercise for Tenant’s failure to timely pay rent.

Thanks for the great advise..

Originally posted by @Joseph Konney:

Always do an ITEMIZED walk through before move in with the tenant where you and the tenant sign and date. It will clear up any issues through your entire relationship regarding the condition of the property at move in and move out. As you clearly have not done this yet, I would make arrangements ASAP to do so.

Your late fee is extremely weak... unless that was a typo for $100.

Unless it's an emergency, the tenant should provide some notice before they are going to expense and deduct from the rent. Rental agreements usually state "broom clean finish", not "glossy shine finish with a scent of lavender". They aren't the king and this isn't the wild west.

As others have said, stay firm and good luck!

Will definitely take your advise on the walk thru but the property is in a different state but will be there in a week. 

 Here is the actual verbiage from the lease (sorry should have been clear its $10 per day late fee after the 3rd. 

Delinquent Rent. If not paid on the 1st, Rent shall be considered overdue and delinquent on the 2nd day of each calendar month. If Tenant fails to timely pay any month’s rent, Tenant will pay Landlord a late charge of $10 per day until rent is paid in full. If Landlord receives the monthly rent by the 3rd day of the month, Landlord will waive the late charges for that month. Any waiver of late charges under this paragraph will not affect or diminish any other right or remedy Landlord may exercise for Tenant’s failure to timely pay rent.

Yes it was spotless as i personally got on my hands and needs and cleaned the baseboard and swept and mopped. You know the funny thing is a few weeks ago i entered the property to address and issue and his bathroom was filthy with hair all over the floor. So to complain about cleanliness is just an excuse for not paying the rent. He himself is dirty. Love your wild wild west comment..

Thanks for the feedback!!

Originally posted by @Karen A.:

I'll start by saying that I don't know the particular LL/tenant law in Chicago, but I will say that @Theresa Harris' post is spot on.  Send him a letter by certified mail that reminds him of the terms in his lease agreement, the amount owed, by what day you will accept the amount owed, and the consequences for not doing so.  Be prepared to follow through with the "pay or quit" notice as required by your local laws.  If that doesn't get his attention, be prepared to follow through with eviction (per the procedure outlined in your local laws.)

Earlier this year I had to prepare myself when going through a similar scenario.  The tenants damaged a part of my property within 6 weeks of moving in.  I made the repair and billed them for the damages.  They texted me and said they would "pay as they could."  They didn't ask me, they TOLD me what they were going to do.  That did not sit well with me, considering that I was out-of-pocket for their damages. I sent them a second letter (not as friendly) informing them of the amount owed and when it was to paid by.  Anything after that date would put them in default and "put their tenancy in jeopardy."  They paid the amount owed by the due date. 

 Great information thank you!! I am willing to go all the way i had further interaction with him and we are not going to make it thru the full lease as now he has threatened me... 

Originally posted by @Jill F.:

@Christina Martinez if you add your location to your profile you'll get much more accurate infomation because the notification rules can be vastly different in different areas.

Like the other posters, I would notice that tenant but you'll need to make ABSOLUTELY sure that you notice according to the rules of your local governments. Over here in Akron, the process starts with a 3-day notice to leave that must be delivered in person or posted on the door and the person posting the notice is going to need to be available to show up in court to testify if it comes to that. Our notice requires very specific language and even the font size is specified.

Good information thank you for the feedback!!

Originally posted by @Jill F.:
Originally posted by @Christina Martinez:

I have a rental that is rented with signed lease for 1,300 a month the new tenant who just moved in last month, this month decides he only is going to pay $1200 because he says he didn't do an final walk thru prior to signing the lease and wants to charge me $100 that he supposedly paid to have the washrooms cleaned. He also paid on the 8th. There is a $10 a day late fee after the 3rd day. What type of notice should i provide to him. He will not be renewed as he is cocky and disrespectful.

Where is your rental? Rules in the US are specific to State, county, and city? 

 Cook County, South Holland a suburb of Chicago.

The rental is located in Cook County Illinois, South Holland a suburb of Chicago.

I have a rental that is rented with signed lease for 1,300 a month the new tenant who just moved in last month, this month decides he only is going to pay $1200 because he says he didn't do an final walk thru prior to signing the lease and wants to charge me $100 that he supposedly paid to have the washrooms cleaned. He also paid on the 8th. There is a $10 a day late fee after the 3rd day. What type of notice should i provide to him. He will not be renewed as he is cocky and disrespectful.