Rental Basics in Plainfield>Question Details

Katie Marie, Real Estate Pro in 60559

Are the online DIY leases any good?

Asked by Katie Marie, 60559 Tue Jul 31, 2012

My husband and I are first time landlords in IL. If not the online leases, any recommendations for a lawyer to help guide us through creating our lease so that we don't overlook any important stipulations?

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An experienced real estate attorney will have the proper leases and make certain you are not only protected during the rental period but that you understand your responsiblities to your tenant. I would definately have an attorney sit down with you and explain all the blank spaces and the parameters of the lease. In addition, if finding a tenant becomes difficult, I would engage the services of a realtor to handle the transation, drive qualified tenants to the property and arrange for the proper credit and background checks.
1 vote Thank Flag Link Tue Jul 31, 2012
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Landlord liability for criminal activities.
1 vote Thank Flag Link Tue Jul 31, 2012
A lease is only as good as the tenant you choose. No tenant is better than a bad tenant... or a vacant unit is better than a rental unit with a bad tenant. What is a bad tenant? Someone that does not realize the value of what you are allowing them to live in. What do you expect as a landlord? Many leases cover the basics. It is the rider to the lease that can keep you in line with your investment objective. Have you reviewed the HUD guidelines for rentals? Please do!
1 vote Thank Flag Link Tue Jul 31, 2012
You can have a Realtor guide you through the whole process. They will find you a renter, and screen the tenant, arrange move in walk through, and write the lease. Contact me Coldwell Banker Honig-Bell Amanda Albrecht @ 815-715-5904 for more info!
1 vote Thank Flag Link Tue Jul 31, 2012
Thank you for the input. Our mortgage broker (a family friend) will be giving us a few referrals for real estate attorneys.
0 votes Thank Flag Link Thu Aug 2, 2012
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