I am an Oak Park condo owner and I am looking to rent out my unit. Is this something I should take on myself?

Asked by Jackie Caruso-Hudson, Oak Park, IL Mon Aug 15, 2011

If not, who do I enlist help from?

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6
Linda Little, Agent, Oak Park, IL
Mon Sep 16, 2013
The first step is to make sure your association will allow rentals. I can help you more in detail if you contact me thru my Trulia Profile.
0 votes
maggielampo, Renter, Oak Park, IL
Sat Feb 9, 2013
Hi Jackie! I am a 27 yr old female professional. I currently live and work downtown and would like to move out a little from the hustle and bustle into Oak Park. Would like to talk to you further on your unit. My e-mail is maggielampo@gmail.com. Thanks so much and I look forward to speaking with you.
0 votes
Mark Fischer, Agent, Chicago, IL
Fri Sep 21, 2012
Hi Jackie, I would love to discuss renting your condo out. Many issues to consider however...

I am a broker who sells and rent a ton of real-estate in the Village.

I would like to discuss options with you.

Do you have time to chat?

my call is 3129617232
0 votes
Debbie Weeks, Agent, Oak Park, IL
Fri Aug 26, 2011
Hi Jackie,

I don't know if you've already decided whether to hire a realty firm or to try to rent your condo out on your own yet, but like most issues that have to do with hiring out versus doing something yourself, there are pros and cons to both routes. If you try to rent your condo out on your own, you're likely going to encounter many challenges. First, after putting together your ad, you will need to respond to your ad inquiries on Craigslist or whatever ad medium you use, which could be somewhat time-consuming. More time-consuming will be setting up appointments to have people come see your condo. You also need to be very careful having people come to see your condo whom you do not know. Then there are the issues with having to run prospective tenants' credit reports and doing background, work and rental history checks or hiring services to do so. The main advantage to doing all of this work yourself is saving the commission fee. However, commission fees are a one-time, tax-deductible fee and in the big picture seem well worth the money for all of this legwork being done for you. Realtors will likely do a better job of finding a solid, stable, long-term tenant than you could given what I assume are your limited time and resources.
0 votes
Kelley Golden, Renter, Oak Park, IL
Sat Aug 20, 2011
Hi Jackie,

Is your condo still vacant to rent out? I am looking to rent a unit in Oak Park to get closer to work. Please reply via email, kelzgldn123@hotmail.com or call me at 708-261-7135.

Thanks,

Kelley Golden
0 votes
Gina Ziegler, Agent, Marlton, NJ
Mon Aug 15, 2011
Yes. There are lots of free websites (Craigs List) that will find you renters. Ask you prospective tenants to run there own credit report on http://www.freecredit.com or any similar site. Have an application for them to fill out that will give you work history. Most important, before choosing them as a tenant, ask to see 12 months of previous rent checks. This will show you how they pay their rent!
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