Negotiations

The art of landlording requires a negotiation skill. I have learned to follow up said negotiations with a letter stating the agreement.  So that there are no surprises.
So when they call up and tell you that they have money for you....take it one step further and find out when the next payment is coming and what you will do when the 2nd payment does not come.  In this case, I have insurance ie. Officer Dixon and a set out date postponed one week.  Don't cancel or you will have to start all over.

More expense and more delays.

New Law

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"

Julie Julia

I loved the movie "Julie, Julia" (I might have the title slightly wrong).  Anyway, the movie was my first exposure to blogging.  I just loved the way Julie blogged every day about  Julia Child's recipies that she was making.  I know that you are suppose to write about what you know.  Well, what did I really know about anything.  I finally decided that I could write about landlording. 

And so I started in 2009.  I was off to a great start.  I wanted my blogs to be upbeat and entertaining.  After awhile, I realized that many times landlording is not upbeat, nor entertaining, nor nice.

If you can't say something nice than you should not say anything at all.

Mum's the word!

Surprise Property tax!

Property tax surprise is not really a surprise.  You've known for one year that the property taxes are due the same time every year.  Sure would have been easier to pay had I set aside payments monthly.  I am on tract to have that set-up for 2011.

Next year no surprises!

SB1766-Crime Free Clause

Yesterday the Governor of Illinois passed SB1766 into law.  Requiring all landlords to have a crime free clause in all rental contracts.  Actually, I do have something like that in my contracts.  SB1766 does not provide any protection or access to information to landlords during the screening process to determine whether or not landlords will be renting to a potential criminal.  Many people lie on their applications.  I catch them sometimes and sometimes I don't.  If a crime is committed on our property, our job will be to get them out and fast.

Lord help us!

Move'em Out, Move'em In

Old tenants moved out, left some furniture, dirty carpets, ugly paint on the walls.  New tenants love the house, like to clean, and could use some of the furniture.  And have money. 

Now that's what I am talking about!

Who cares?

Be careful in your selection of tenants.  By the time, renters get finished with their, "I don't care it is just rented attitude" they have destroyed your property.  Try to avoid these types of renters.

1. I don't care and I don't pay list.
2. I don't care but I do pay list.
3. I don't care, I don't pay, and it's your fault list.
4. I don't care, I don't pay, it's your fault and if you kick me out, I will get even list.
5. I don't have any money, but I really need a place to live.
6. Oh that felony on my record is a mistake.

If this doesn't bother you , "You might be a landlord".  But then Who Cares?