Rental Floss

Do You Screen For Undocumented Immigrants?
Landlords have no legal obligation to check an applicant’s legal immigration status, and I have never done so. I am not in the immigration enforcement business, and legal resident status is not on my list of criteria.
On the other hand, there isn’t any reason why you couldn’t require your tenants [...]

10 New Rules for 2008 Taxes

10 New Tax Rules for 2008 Taxes
01-20-2009
With each new year comes a new batch of tax rules and miscellaneous changes to the laws that taxpayers need to be aware of. There’s no denying that the tax code in the United States is incredibly complex, and there are tons of changes. But here are some of [...]

Landlord Safety

FEBRUARY LCPIA MEETING TOPIC: LANDLORD SAFETY
WHERE:
American Legion Gurnee Post #771
Located 1 block east of Rt. 21 at Grand Avenue in Gurnee.
WHEN:
February 10, 2009
6:30 p.m. (Registration 6:00 to 6:30)
Aug 24, 2008 | CHICAGO | The 77-year-old South Side landlord who was set on fire last week, allegedly by a 28-year-old former tenant, has died.
Harlan Hayes was [...]

Right or Wrong?

By Mel Metts
Right or Wrong?
Don’t shovel your sidewalks! If you don’t shovel, you can’t be sued if someone slips and falls; but if you do shovel, you are liable.
Wrong!
Illinois law protects you from liability.
CIVIL IMMUNITIES [Illinois Compiled Statutes]
(745 ILCS 75/) Snow and Ice Removal Act.
(745 ILCS 75/1) (from Ch. 70, par. 201)
Sec. 1. It is [...]

Accept Credit and Debit Cards From Your Tenants

By Mel Metts
Think that accepting credit cards from your tenants is a big hassle? Times have changed, and now anybody with a bank account and e-mail address can accept plastic. It’s not difficult.
PayPal changed all the rules. Before PayPal, vendors faced multiple hurdles if they wanted to accept credit and debit cards. No more!
First, let’s [...]

2000 Readers With Nothing to Say

So this blog has had more than 2,000 hits so far.
Yet — except for spammers, precious few of you have replied to any of my posts.
How about this: If you agree with me, let me know. If you disagree, let me know. If you can shed more light on an issue, let me know.
Comment! Please!
(Humor [...]

Can I Find REO Bargains in Lake County?

The other day I put together a list of foreclosed homes that turned out to be pretty good deals for their buyers. All sold for $110k or less.
All of the homes on the list would also make good rental properties; they are in desirable locations and should garner sufficient rents.
For a look at this list, go [...]

Are Month-to-Month Leases Right For You?

By Mel Metts

There is a great deal of confusion over month-to-month tenancies. Yes, they should be in writing. No, you don’t have to sign a new one every month.

To minimize confusion, my leases are titled “Rental Agreement.” I have annual rental agreements and month-to-month rental agreements, depending on the circumstance.
A month-to-month tenancy has a start [...]

Advertise Your Properties Using Postlets

By Mel Metts
Postlets is a free service that allows you to create attractive for-rent or for-sale ads for CraigsList and other sites.
The beauty of postlets is the ability to upload multiple photos of your property and include them in your professional flyer.
>>Full Article

 

Let’s Talk Lintel

 
 A lintel is a horizontal structural member, such as a beam or stone, that spans an opening. This discussion is about lintels mounted over window openings.
Look at any brick wall; if there is brick above the window opening, a lintel is required to support the massive weight. The most common lintels you will encounter are t-shaped [...]