Janna Afanasjeva
Chicago security deposits - is business account enough?
For those landlords who take security deposits in City of Chicago, is a separate business bank account sufficient for the security deposit or do I still need to set up the special landlord account that requires all W-...
Victor So
Tips on househacking in Niles, IL
Hello BP!
I just closed on a 2-unit property in Niles, IL where I will house-hack by living in one unit and renting out the other. I also plan to airbnb my spare rooms for extra income. Before acquiring this propert...
Adam Craig
Security deposit for small office space?
Do you require full security deposit for small office space?
We have about 8000 sq ft of office divided into 6 units with units ranging from 700 sq/ft to 2000 sq/ft.
The space we have is completely remodeled and mov...
Freeman Schultz
Question about increase for a security deposit
I have been looking at investment properties and learning a lot about investing but I am a little confused about who pays for the increases in the safety deposit.In a lease renewal, the rent will usually increase and ...
Debbie J. Skora
Inheriting Tenants with Substandard Leases
We are inheriting tenants in four of the units in our next purchase. I know that we must uphold their leases as long as they are valid. My question is what ability we have to enforce certain “policies” such as requi...
Kiet Tran
Rent: First months, last months, & security deposit
Is charging first months rent, last months rent, and security deposit overkill? I have screened tenants that have a 650+ credit score but am deciding whether or not just first months rent, and security deposit is acce...
Bienes Raices
Problem with security deposit account, and Bank of America
I set up two business checking accounts for my LLC--one for the rents,etc. for the property that will be held by that LLC, and the other for just the security deposit for that property, as my state's law requires. (la...
Nili Yosef
Security deposit question- has to be in a savings account?
Hi all,Am i legally obligated to keep security deposits in a savings account? is this only if the property is under an llc or also if it's my name?Thanks!
Aaron W.
Evicted tenant from over a year and a half ago strikes back
I had a tenant text the other day that they paid a deposit and never got a deposit statement and they were trying to buy a house and that this needed to be settled in court. I saw this and was thinking you have to be...
Paige Roberts
Best product to kill German Roaches
Has anyone ever dealt with these horrible things? I've tried the boric acid,borax, foggers,sprays, even professionals have come twice but I fear they will come back. Should I just keep doing follow ups with pest cont...