LindaMost statutes don’t allow you to collect double rent, the previous tenant would need to be pro-rated back for that portion of time you let the new tenants occupy. 

This change is significant for the financial feasibility of ADU construction in Chicago since water service costs can be more easily justified when collecting rents from two additional unit.Also proposes to allow larger units and to allow ADU construction in any zoning designation.

Best way for collecting rent, security deposit, etc. with 1 property.

To my understanding the law states here that you either have to have an ownership interest in the property or you have to have a RE brokers license to collect and enforce a lease.Collecting rent and enforcing a least for Properties in an LLC:1.

That comment specifically relates to the investors who believe they are better protected by having a separate LLC collect rent and perform management functions independent of the deed holder LLC.

My name is Richard Pennington I am in the Raleigh North Carolina area seeking any advice on using an FHA loan or conventional  loan for my first investment property. My best rule of thumb is to have 20k for every 100,...

While not ideal, when weighing the additional costs and time of foreclosure, against the likelihood of recovery from the PG, we determined it was more likely we’d save expenses than we’d be able to collect on the PG.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Future Rights: It is common for leases to either:Cover existing tenants and equipment: This means the lease covers only the equipment and tenants on the tower at the time of the sale.Include provisions for future tenants: Some agreements might allow for new tenants and equipment to be added, potentially impacting the compensation.Lump Sum Payments: When a lease is sold for a lump sum, it often includes a transfer of the right to collect future rents from existing tenants.

We had a few where we had to wait until rent assistance kicked in (and don't get me started people driving a Porsche and collecting rent assistance), but in the end we were whole.