What are these items?
If you’re like me, you would say these are a sprinkler head and a smoke detector. You would be wrong.
In fact, these are non-operable fakes. Instead, they contain tiny surveillance cameras and they are now illegal in Illinois since they are non-functioning.
Fire and Life Safety Device Act Public Act 95-946. New criminal [...]
Filed under: Landlord/Tenant Law | Tagged: fake smoke detector, fake sprinkler, illinois law, real estate, real estate law | Leave a Comment »
by Mel Metts
What kind of lease do you use? No preprinted lease is perfect, and I’ve made a number of my own modifications over the years. Here are some that you should consider.
Charge a single late fee instead of a daily late fee. Why? Judges are now limiting awards to a single late charge. If [...]
Filed under: commentary | Leave a Comment »
Under Illinois Law, in certain circumstances a tenant has the right to repair his dwelling and deduct the cost from the rent payment. If the landlord fails to make certain repairs within 14 days after being notified by the tenant in writing or more promptly as conditions require in the case of an emergency, the [...]
Filed under: Landlord/Tenant Law | Tagged: rental floss | Leave a Comment »
I don’t have to tell you that home foreclosures drive down neighborhood values.
As I search the Multiple Listing Service today, there are approximately 1,500 Lake County residential listings of distressed or foreclosed properties, accounting for 23% of the market.
And those 1,500 properties have frozen the entire market, which sits in suspension waiting for something to [...]
Filed under: commentary, mortgage | Leave a Comment »
LCPIA’s Julie Eckard, Sen. Michael Bond, Rep. Ed Sullivan Jr., Sen-Elect Dan Duffy, LCPIA meeting organizer Hilde Waldschmidt, Sen. Susan Garrett, LCPIA’s Mel Metts, Rep. Kathleen Ryg, Sen. Terry Link.
By my count, approximately 70 LCPIA (Lake County Property Investors Association) members and guests braved the winter storm to attend.
After a rocky start due to weather, [...]
Filed under: Uncategorized | Leave a Comment »
Rental Floss
If you pay the heat for your tenants, you don’t want that heat going to waste. I’ve tried using the tamper-proof covers available at home-improvement stores, but my crafty tenants always figured out how to cheat the heat.
Enter Accustat, a tamper-resistant thermostat available with fixed-temp modules or an electronically programmable version.
Available from Johnstone Supply or [...]
Filed under: commentary | Tagged: energy saving, rental floss | 1 Comment »