Colleen F.
Security deposit - no forwarding address
Ok so I called, emailed , and texted and got no address to send security deposit to. I then sent the security deposit to the rental address and the tenant has no forwarding address order so it was delivered to the...
Russell W.
Inheriting tenants, no security deposits
I'm about to close on a small multifamily building with 3 tenants, each of which have re-signed for a year. The previous owner charged a move in fee, did not collect a security deposit.Is it possible (or recommended) ...
Angelo R.
No security deposit; higher rent
If I wanted to increase cash flow and was willing to tolerate more risk, would it be wise to forego the security deposit and instead ask for higher rent?Let’s say the market rate is $5,000 for my property and the secu...
Aviram Bilder
Tenant with no security deposit
Hello everyone,I have recently bought a small multifamily with tenants in place, on a month-to-month basis. The previous owner did not ask the tenants to provide him security deposits.I have decided to raise rents in ...
Marci Stein
No refund policy on deposit
went to see a home from an investment rei company on C.L. dealing with foreclosures only. web site looks authentic enough, listing many homes sold and some current ones for sale. Site states said if i make an offer,...
Brendan Moehn
Tenant withholding rent due to no record of their deposit
TL:DR- Tenant withholding rent due to not going to get deposit back, which there is no record of. What's the best time/cost effective way of dealing with it?I purchased a property end of October, 2019. The previous la...
Giavonn R.
Month to Month Tenant- No lease - No deposits - Purchase
Hello BP - I am about to purchase my first rental property after a long while of being in the business. There is a tenant in place that is a friend of the seller so it is month to month, no deposit and they pay about...
Tony Freeman
Why Security Deposits In Chicago Are A NO NO!
This isn't meant to be a long post but I have a lot of first time investors and house hackers or just investors that are new to Chicago that ask about charging a security deposit and my answer to them is NEVER charge ...
Alec Siebert
Tenant Low Move-in Rate/No Deposit
We're looking into buying a 60+ unit complex where their current marketing is for prospective tenants to pay about half a month's rent with no deposit to get them moved in. I've been a property manager/investor for 1...
Lucas Hammer
Renter Question - No Deposit; Threatening to Charge
So I'm a renter and a landlord currently. We'll be house-hacking in Chicago, but we're moving out of our current apartment to take possession of the new 2-flat we bought. We gave a notice to vacate with our rent to ou...