On August 2 Governor Quinn signed Senate Bill 1766. This new law is effective immediately and requires all residential leases to state existing law and include the following language.
"if any lessee or occupant, on one or more occasions, uses or permits the use of the leased premises for the commission of a felony or Class A misdemeanor under the laws of this State, the lessor shall have the right to void the lease and recover the leased premises"
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The daily life of a property investor turned landlord. With 15 years experience including: acquistion of over 100 properties, landlording, tenant issues, and other stuff just because you own property.
My Side of the Story
"I started acquiring property in 1993. Bought my first fixer upper house to sell. It didn't sell so I rented it instead... got to pay the bank. I bought another house, the same thing happened. Guess what? property investor is now a landlord. One bit of advice here: make sure that you have enough cash put back to pay the bank, when your tenant vacates and they will. Long story short, I have a plethora of stories to share. Maybe you will laugh, say "oh no", want to get even, hate me, or buy a property. It's a life and here are my stories. Enjoy!"
Ruth
Ruth
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