All Forum Posts by: Jeremy Marek

Now that the Cook county tenant landlord ordinance has taken effect, does anyone have an updated lease from the Illinois Realtors association? Last I heard from property manager was that it was in the works but not finalized (that was at least a month ago)

@Alfred Litton you are spot on!

@Joe S. I totally agree. Count yourself lucky that you aren't stuck paying out of pocket with a bad tenant during a moratorium

@Wade Germann I'm a seasoned multifamily investor from Oak Lawn/Evergreen Park and used to present at an investor meetup we had going in NWI, but Covid has thrown all that off. I'm definitely down for an in-person meetup

@Luke H. Yeah, it's been that way for a while (at least in the Chicago market). It's a bummer for sure. By far the second best bet is FB marketplace and growing fast. Just make sure to do a couple searches for the best groups in your area to post your listing. We are not using any of Zillows other tools (like their rent collection feature), because it will undoubtedly go to a fee based system soon too and who knows how competitive it will be... Would rather not have to rely on them

@Margarita Chacon , regardless of the reason, it will be a very long time until you can evict, even if it is related to gross lease violations. You would be best to contact an attorney to figure out your best course of action. Also, remember that not only have the feds extended the moratorium, Pritzker will also be extending the state moratorium for at least the next few months. The State and County will be much more trouble for you than the federal moratorium.

Also, please contact your local cook county board to oppose the RTLO that is being proposed. It will be one of the most restrictive and anti-landlord ordinances in the country if it passes.

https://chicagorealtor.com/take-action-oppose-cook-countys-proposed-rtlo/

@Dan Weber This is exactly why landlords need to be more active in the legislative process. Without small mom and pop landlords taking the time to explain how difficult and expensive these mandatory rules make life, these small business owner landlords are going to go extinct, leaving the hedge fund megalords to take over.

@Allison Leung the app has got to get better. It's constantly crashing or buggy on S9+

Now is the time to worry about it, before it becomes law... Too many small time landlords have a laxed attitude on major legislation and aren't contacting their local representative to explain their hardship.

Our first was a 6 unit (all 2-1s)