All Forum Posts by: Ryan Bird

@John Mocker Thank you!

Tenant is asking for 2 year lease during renewal. They have been good so far and we’re okay with locked in rent for next two years.

Looking for any gotchas and clauses/provisions to add in the lease addendum. I’m also debating for 2 year lease vs option to renew after 1 year.

My insurance company just sent me a notice regarding the drop of fungi or bacteria from liability coverage. It says the fungi or bacteria exclusion applies to bodily injury, property damage and also any loss, cost for testing and mitigating.

Thoughts on this? Should I shop for new insurance?

For lease renewals that are yearly, do you sign entire lease or just the addendum?

If it’s entire lease, what dates do you put in new lease? Let’s say the current lease runs from Aug 1st, 22-July 31st, 23 and you’re renewing it today, March 1st, 23.

Should I use Aug 1st, 23 (end date of current lease) -July31st, 24 Or is it Mar 1st, 23 (today’s/signature date) - July 31st, 24. I wasn’t sure if previous lease that covers from today till July 31st, 23 is still valid once the new lease executes.

Question to investors/PMs in the area : When is the best time to start / end a lease in Iowa city/Coralville/NL area?

Trying to understand the optimal lease cycle and if there is a strong recommendation on which month to list your rental to attract great tenants.

@Nathan Grabau

Thanks Nathan! This is very helpful.

@Nathan Gesner

Thanks Nathan! This is very helpful.

@John Warren

This is very helpful. Thank you John! Agreed that we should look at other factors and especially with investing locally. That macro trend is very useful chart to look at vs just recent data. I also see several counties/cities with a net increase.

@Bob Floss II

“someone” is quoting data from census in the article. It’s only showing decline from 2014. I believe it was all positive from 2000-2010 and before. I didn’t understand the 45 years continuous loss part.

Here is the link and the page also provides link to census website data that was used. I assume this comes our every year in Jan since the census data gets published in Dec.

https://www.illinoispolicy.org/outmigration-caused-illinois-population-to-decline-again-in-2022/

Even otherwise, I think it’s a fair ask for someone starting to learn how investors are looking at these numbers and why this shouldn’t be the only criteria to look at.

I’m interested in investing in northwest suburbs of Chicago but recently read a 2022 year end report that take about negative net migration in Illinois, specifically in cook county and city of Chicago. I could see such articles on population decline from 2017 so looks like it’s not something new.

As an investor, how would these migration reports impact your investment decisions in Chicago or suburbs? Most of the real estate videos/podcasts suggest that I should look at cities with positive net migration so curious on why would someone continue to invest in Chicago or suburbs?