All Forum Posts by: Claudia Del Leola

@Claudia Del Leola All great advice here guys. There is plenty to take into consideration. I will tread lightly. Thank for sharing your insight.

@Marteki Codjoe I've used First Midwest several times. They offer competitive rates and are very easy to work with.

Should I be suspicious about receiving a request for rental application from someone who I have not yet spoken to much less even shown the property to? My gut tells me this is highly unusual especially considering the rent is over $4k/month.

No questions, no calls, or request for viewing... all with a move in date in the 1st week of June. I know there have been all sorts of scams popping up in the rental market. Has anyone else experienced this situation?

@Jonathan Klemm I know, I've lived in Chicago all my life and rents are the highest I ever seen. With all the great advice I've received here I may end up doing a combination of a move in fee with one month's SD. Thanks again for chiming in.

@Tom Shallcross Thanks for the advice. All great perspectives here. I'm thinking now I may do a combination of a move-in fee and one month SD to cover my bases. I did think it was high as well, but all the guidance I found was less than 1/2 of rent. With the rents as they are lately the numbers can get up there very easily.

@Nathan G. Thanks for the feedback. Makes sense. I may end up doing a combo of the two and charge 1 month SD and a move-in fee per person.

@Brie Schmidt Thanks, I appreciate the input it definitely helps me with additonal perspective. I thought as much, but wasn't sure what was typical in today's crazy market.

Just wanted to get some feedback back on the amount to charge for a move in fee. Most of the guidance I've found says it should be less than half of rent.

I havr a listing for a 3br/2.5 bath townhouse in Chicago (Logan Square) and am charging $4500 (no security deposit). Is a $2000 non-refundable move-in fee in line with this type of listing?

Any guidance or feedback would be a big help. Thanks!

@Rachel H. Did you conditionally approve the application? I believe you have to mark the app with conditional approval to move forward with the criminal check.

Current Value: $350k

HOA: $440/mo

Loan Bal: $160k

Current Rent: $2800/mo

I used an online cash out refinance calculator and the $100k is what it gave me.