All Forum Posts by: Jarret Jarvis

Hi @Jacob Dalton,

Thanks for sharing your situation—it’s clear you’ve put a lot of thought into this decision, and I can understand why you’re concerned given the challenges of being a landlord in Cook County.

Screening tenants is definitely a key step, but I agree it’s not foolproof. Here are a few additional strategies that might help mitigate risk if you decide to rent the property:

1. Hire a Strong Property Management Company: While you’ve already spoken with some PMs, consider finding one with extensive experience managing single-family rentals in Cook County specifically. A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.
2. Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.
3. Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default. It’s worth researching to see if this might be a good fit for your situation.
4. Lease Structure and Clauses: Work with an attorney to draft a lease with strong clauses for late fees, maintenance responsibilities, and other terms to protect your interests.
5. Target Stable Tenant Profiles: While no tenant is risk-free, targeting tenant pools that historically have more stability (e.g., retirees, dual-income households, or tenants relocating for work) may reduce risk.
6. Stay Up to Date on Landlord-Tenant Laws: Understanding your rights and obligations can help you navigate issues more effectively if they arise.

That said, if the potential risks are keeping you up at night and the financial pressure of an eviction would be too much, selling may still be the best option for peace of mind. You’ve got a great property with a fantastic rate, so it should be appealing to buyers even in this market.

Ultimately, the decision comes down to your personal risk tolerance and financial situation. Whatever you decide, I wish you the best of luck, and feel free to keep us updated!

Best,

Jarret

Hi @Javade Jones,

That’s a great strategy! Seller financing can be a fantastic way to get into a 4+ unit property, especially in a competitive market like Chicago.

Have you started reaching out to owners directly or networking with agents who specialize in multifamily properties? Sometimes off-market deals can be a goldmine for seller-financed opportunities.

Let me know if you’d like any tips or resources—I’d be happy to help!

Best,

Jarret

Hi @Vivien Martin,

Welcome to BiggerPockets and congrats on starting your journey into real estate investing! A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.

Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal. The forums are full of experienced investors who are happy to share advice and tips to help you succeed.

Best,

Jarret

Here’s a response you can use:

Hi Jordan,

Happy New Year!

That’s a tough situation. Honestly, I think the PM bears some responsibility here. Switching the utilities into their name without safeguards in place—knowing the tenant might act out—seems like a misstep on their part.

While it’s true you’ll ultimately have to cover the cost, it doesn’t feel entirely fair for you to shoulder the consequence of their decision. If this is part of a pattern with the PM, I’d seriously reconsider working with them in the future. A good PM should protect your interests and anticipate potential risks like this.

Let me know how it all shakes out!

Best,

Jarret

Bigger Pockets,

Does anyone have a real estate attorney they recommend in Alabama? Would be great if they had experience in commercial space specifically storage units? 

@Jonathan Klemm you're correct meant to put the 2024 Chicago residential lease I'll have to create another post. Yes our team does a lot of rental listings in Chicago no specific niche. 

@Brie Schmidt thank you so much for your concern. I never disburse the document publicly and disburse it to clients. Also, how did you know that I was a member of CAR just curious?

Hey Chicago Bigger Pockets Community,

Hope you're all doing well! 👋 I wanted to reach out to let you know that I have access to the Exclusive 2024 Rental Listing Agreement for properties in Chicago. If you need this document for any rental transactions or agreements in the Chicago area, feel free to reach out to me, and I'll be happy to share it with you.

Having the right documentation is crucial when it comes to real estate transactions, and this agreement is tailored specifically for Chicago rentals in 2024. It's a great resource for landlords, property managers, or anyone involved in the rental process.

If you're interested, just drop a comment below, and I'll get in touch with you privately to provide the necessary details. Let's make sure your rental transactions go smoothly with the right paperwork!

Looking forward to assisting you all.

Best regards,

Jarret 

Hi Sandeej

I would recommend Cary Schiff - he is an excellent attorney for landlords

https://www.cgschifflaws.com/

Hey there, 

I highly recommend Jason Chmielewski with JMC Law Group. My team and I work with him on the regular and recommend him to all our clients. He is one of the best. Let him know I sent you! Contact information is below

Jason M. Chmielewski, Managing Attorney
JMC Law Group
111 West Washington Street, Suite 1500
Chicago, Illinois 60602
(312) 332-5020 phone
(312) 332-5021 fax
ww.JMCLawGroup.com

Hi Regina

The lease application is the same as that of 2020. If you need the 2023 Chicago Residential Lease Template, please feel free to shoot me your email in a DM and I'll send you a PDF copy. Likewise for the application.