All Forum Posts by: Daniel F.

Hi all,

I just passed the real estate license exam here in Chicago, my intention is to do this for family business purposes and am looking for a favorable commission structure. I found one brokerage, Kale Realty who have the commissions going 100% to broker but you pay $325 per transaction, for rentals its 80% to broker and $15 per transaction. In addition you pay $49 monthly fee + $199 annual errors and omission insurance. 

For someone who is most likely only going to do a handful of transactions a year mostly in renting, does this sound like a fair deal or are there better alternatives?

Thanks!

Maybe present this info over to him and see where the disagreement lies.

Thanks for the responses... not sure where you are all located but in Chicago its common practice for the prospective tenant to be shown the unit while a tenant resides. Leases are on an annual basis that typically begin on the first of the month, and yes, the turnaround is one day. The tenant moves out the last day of the month, we clean and do any needed repairs that day, and the next tenant moves in on the first.

I haven't heard of any of my colleagues, whether it be other landlords or management companies that don't show units while tenants are there. It's just unreasonable and a complete waste of a month.

That being said, yes I have pictures of the unit from when it was clean, and on paper unit looks great, along with it being competitively priced. Fact of the matter is the current tenants aren't respecting the property, so be it we'll all move on.

Thanks for the responses everyone. Like mentioned some of you, it's part of the game I suppose. I know it's a stretch thinking the deposit is there for remedy of not being able to rent it out, just frustrating.

@Joe B. "Your expectation of the tenant to clean and help you rent the unit with no downtime is unrealistic."

My expectations aren't that demanding, I don't need a spotless unit. I have other tenants who I have never had issues with. This is beyond and reasonable of what "normal" is.

Every prospective tenant has had their fair share of comments of disgust. There is only so much I, or the real estate agent can do with words for them to try to visualize the place in a normal condition.

I'll call it a sunk cost at this point.

Hi everyone,

I am having the unfortunate experience of dealing with an extremely messy tenant right now. Due to the conditions of the apartment, I am having difficulty getting it rented for June, a week away!

The clutter is intense in all of the rooms, the bathrooms are dirty, there is garbage in the hallways. This is clear violation of my lease and I have notified my tenant I'd like this to be resolved in a timely fashion. 

I have had no problem renting out the unit out by myself via Craigslist and Zillow in the past, but have even resorted to hire a real estate agent. Nonetheless, the agent is having trouble renting out the apartment as well.

Hypothetically speaking, in Illinois in a situation like this, would a landlord have any rights to the security deposit to remedy the potential vacancy of the apartment til July?

Thank you.