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All Forum Posts by: Jesse M.

Jesse M. has started 6 posts and replied 59 times.

Post: Lease templates (Chicago)

Jesse M.Posted
  • Investor
  • Chicago, IL
  • Posts 60
  • Votes 45

I'm trying to compare lease agreements between EZlandlordforms.com ($30) and the standard from Chicagorealtor.com (free) and wondering if anyone had some positive/negative feedback about either of these. It seems that the one from Chicagorealtor would be more bulletproof but I don't have the ability to modify it (addendums, etc). EZlandlordforms gives me the ability to customize to my liking but I'm not 100% positive everything would stand up to Chicago ordinance.

Any horror stories?

Post: Chicago south side rental market

Jesse M.Posted
  • Investor
  • Chicago, IL
  • Posts 60
  • Votes 45

Pretty quiet for me right now. I would suggest putting something up on Domu and Apartments.com. I've received some interest from those sites. Still mostly comes from Craigslist though.

Post: Best way to run credit for potential tenants?

Jesse M.Posted
  • Investor
  • Chicago, IL
  • Posts 60
  • Votes 45

Smartmove user here. One good thing about this that I don't really see mentioned is that when the applicant pays (instead of the landlord) it registers as a soft hit to their credit, rather than a hard hit, so it won't affect their credit rating. I take the applications and send them a link from Smartmove.

I'm using an M2M lease for the same reason. Will start in October and tenant is aware that I will offer a 1 year in the spring/summer.

Post: Potential tenant's rent paid by employer - bad idea?

Jesse M.Posted
  • Investor
  • Chicago, IL
  • Posts 60
  • Votes 45

@Frank Squire @Account Closed I'm going to contact this person's employer for an employment verification request anyway so why shouldn't I also mention this particular arrangement and ask for details?

Post: Potential tenant's rent paid by employer - bad idea?

Jesse M.Posted
  • Investor
  • Chicago, IL
  • Posts 60
  • Votes 45

I have a potential tenant whose rent will be paid by their employer. Essentially, this person receives a stipend and spends as they wish. What could go wrong? When I call the HR department, what specifically should I ask? I'm a little worried that this arrangement may end abruptly.

Post: Chicago-land- renting during different seasons

Jesse M.Posted
  • Investor
  • Chicago, IL
  • Posts 60
  • Votes 45

I can tell you that I'm not having great luck finding tenants right now for my condo. I suppose there are a multitude of factors that could be contributing to this, but that's what I'm experiencing.

Post: How long to wait before using rental listing agent?

Jesse M.Posted
  • Investor
  • Chicago, IL
  • Posts 60
  • Votes 45

Hi everyone, new guy here. I'm trying to rent out my condo and after reading many posts/blogs here on BP, decided to give it a go on my own. In terms of reviewing applications, running bkgd checks, and creating a lease that works for me, I feel that I can handle all that (I have a little experience since I was the condo assoc president for a couple years). However, there doesn't seem to be any interest in my offering after about one week. I've posted on Craigslist, Zillow, Trulia and Hotpads. I feel my rental price is fair for what tenants will receive even though it may be higher than surrounding properties. I know several people in my building currently renting for what I'm asking.

Anyway, I'm doing this by myself so I don't need to fork over a full month's rent to have a professional find a tenant. I guess I'm curious how long I should wait it out, considering the renting season is fast coming to a close, before using a listing agent. Should be noted that I'm already out of the condo and living with my fiancée.

Post: Newbie from Chicago

Jesse M.Posted
  • Investor
  • Chicago, IL
  • Posts 60
  • Votes 45

Hey everyone, just thought I'd drop by and say hi. No experience whatsoever with REI but hopefully getting into B&H some day. Currently trying to rent my condo. Go Cubs.