All Forum Posts by: Roderick McCleary

Good idea - I guess I am a little sensitive to this topic because I had to go thru an eviction process with the tenant before this couple. Want to make sure I am taking the right steps in assessing this situation.

It's a 2br so roommate is definitely an option.

Hi BP - I have had this couple as tenants in my rental for the last 2yrs and they've been nothing but great tenants for me. Always pay on time, rarely complain about anything and overall low maintenance for me. Unfortunately, they just broke up and have 2mo left on their lease. 

Challenge: 1 tenant makes enough $ to comfortably afford the rent on their own. The other tenant does not make enough $ to afford the rent on their own. Both tenants individually want to stay in the Unit and sign a new lease. The tenant who does not make enough $ is still living in the Unit by herself. 

Any recommendations how I handle this situation? Not sure how to properly tell the tenant who's income doesn't support the rent that I do not want to resign the the lease with her. I am located in Illinois.

The rental property is located in Batavia, IL. 

And I agree with you on the risk of showing the unit with Tenant in there - I am not going to do it.

Thank you Scott & Andrew, both valid comments. I was in the unit a few weeks ago and it's in great condition, the tenant keeps it clean.

@Scott M. - you mentioned serving her a notice and taking her to court. Do you have any resources to point me to in order to learn more about this? Obviously, this is a last resort because as a Landlord with a full-time job my goal is to make this Rental as hands off as possible.

Hi All - 

The Scenario: I live in IL and am landlord to a 2 unit property. Unit 1's lease expired April 30th, 2021 and she has been a nightmare tenant. She claims she is looking to move out but keeps coming up with new vague excuses to buy herself more time. She keeps paying May/June rent so far but she is not peaceful to deal with and has had a few run-ins with the local cops. I have found a new couple who is ready to move into Unit 1 and they have until July 31 to move in otherwise they will look elsewhere. I do not want to lose these perspective new Tenants.

The Challenge: Current Unit 1 Tenant won't tell me the date she is moving out, citing she has to wait for her Mother's home sale to close so she can get money. She won't give a date on moving out and her logic is constantly flawed. I requested to show her Unit to my new tenants so they can see it in person before we can come to terms on a Lease but she refused my request. She said she will not allow anyone (myself included) to enter her Unit while she occupies.

The Question: As the landlord, what are my rights? I have read online that as long as I give her 24hrs (which I have) I have the right to access the Unit. Also, if anyone has any tips on how to remove her from the Unit (eviction?) that would be helpful. Thank you in advance.

Hi All -

I bought my first rental property 3yrs ago and have come to notice lots of "bandaids" around the two units I purchased which has led me to having to renovate more than originally anticipated.

The good news is, the new reno projects I've been doing look great and bring the units back into the 21st century which has allowed me to increase my rents over time. The latest project I am about to embark on is pulling out the existing vinyl tile on the shower/tub wall and replacing it with new tile.

Question for BP: as a Landlord, what is the best type of backsplash material for a shower/tub project? I originally was going to do a tile but then someone mentioned to me Vinyl would work well since it is a rental.

Any guidance here? Ideally I'd like whatever material looks the best/is the most durable/affordable! Thank you in advance.

Hi everyone - I realized I left out some information.

Those CoC #s are based off me not living in the Property.

It's a 3 unit property that cash flows $2,366/unit. Upside to raise rents to $2,500/unit in Year 1 (but I'm trying to be conservative in my numbers for this exercise).

Hi All -

I am looking to buy a 3 flat and move into a unit for a year to be able to capitalize on favorable interest rates for a 'buy and hold' investment in Bucktown.

I ran the numbers on this property that I really like and I am showing the property is a 7.09% Cap and has a 8.20% CoC return. What is the forum's opinon of these numbers?

I have read conflicting opinions on both of these metrics when trying to pre-determine which is a good measurement of whether this will be a good investment or not.

Thanks for the feedback!

Hi - new Landlord here dealing with this situation for the first time. My tenants bought a house and terminated our Lease 4mos premature. I have their Security Deposit still (equivalent to 1 month's rent) and they have completely moved out of the unit as of 3/31. Due to COVID, I've had a hard time finding a new Tenant so now my Unit is vacant.

In the Lease we signed together, there is language that states: "if the Tenant moves out prior to the natural expiration of this lease, a re-rent levy of [equivalent to 1 month's rent] will be charged to the Tenant.".

Given these circumstances, am I legally allowed to tell the Tenant due to them breaking their lease early I will simply keep their Security Deposit? Any insight will be helpful as I want to communicate this to them today or tomorrow.