Lease With Option To Own
What are the Security Deposit Changes in the new RTLO
Cook County Commissioners pass new RTLO for Rental Deposits Security Deposit- In January 2021, the Cook County Commissioners passed the new Residential Tenant Landlord Ordinance, also known as the new RTLO. The RTLO will go into effect on June 1, 2021, and will bring many changes to owners in the 125 cities in Cook County.…
Read MoreHow Student Loans Impact Your Credit Profile- Need Help?
Student Loans Impact on Your Credit Student Loans- There are a lot of people out there who receive tremendous benefits from student loan assistance. This doesn’t include the 30% of people who obtain one only to drop out of school early, or for our 300,000 waiters and waitresses that have a Bachelor’s degree. It’s certainly…
Read MoreEviction Moratorium Extended to April 3, New Change Added for Evictions
EVICTION MORATORIUM EXTENDED UNTIL APRIL 3, NEW CHANGE ADDED FOR EVICTIONS On Friday, March 5, Governor Pritzker extended the eviction moratorium to April 3. A new addition to eviction procedures was also added: if, after the filing of an eviction action, a tenant delivers an Illinois Tenant Declaration to the landlord, the landlord may only…
Read MoreRental Assistance Program For Landlords
Register Now – Landlord Meetup Every Thursday @ 3PM – Next Meeting March 11th, 2021 Rental Assistance Program Rental Assistance is available for landlords. The Cook County Emergency Rental Assistance program pays up to 12 months of missed rent and utility payments and up to 3 months of future rent payments. Payments will be made directly to…
Read MoreCDC Eviction Moratorium Ruled Unconstitutional
Eviction Moratorium A federal judge ruled that the Center for Disease Control’s (CDC’s) moratorium on evictions is unconstitutional. The judge, John Barker, declined to issue an injunction against the CDC’s rule, but said that he expects that the CDC will respect his decision and withdraw the moratorium. So far, the CDC has not issued a…
Read MoreLandlords Should Require Renters Insurance—Here’s Why
Why Should Landlords Require Renters Insurance? Renters insurance is valuable to landlords because it ensures the tenant’s property is protected, minimizes their cost towards property damages as a result of tenant negligence, mitigates coverage disputes (i.e., who pays for what) if the tenant’s possessions are damaged or stolen while on the property, and reduces landlord’s…
Read MoreChicago’s Fair Housing Ordinance
Fair Housing During the summer of 2020, the City Of Chicago approved the new Fair Housing Ordinance. This ordinance increases the amount of notice a landlord must give in order to not renew a lease, terminate a lease, or raise the rent of a tenant. Chicago Landlord Wants To Terminate Your Lease – Under the ordinance, landlords…
Read MoreDid The Last Round of Stimulus Help Renters Enough?
The latest round of stimulus provided much-needed relief for struggling families and businesses across the United States, especially for renters facing ballooning balances and costly monthly burdens. The package bought renters time, but for how long? New data from Zillow and MRI Software goes over the current state of the rental market and the challenges renters face moving forward.…
Read MoreMortgage Broker -Benefit of Using A Great One
The topic is about a mortgage broker that helped us save a deal for a client. A great fix and flip opportunity for our client but at the last minute underwriting got scared and we almost lost the deal. We closed because of a great team effort including the attorney, a contractor that went the…
Read MoreA New Path To Home Ownership (Lease With Option To Own)
Are you close to being able to buy a home but aren’t quite there? A NEW PATH TO OWNERSHIP You may not be ready to buy a house today, but you can still live in the home and community you really want. Smith & Company can show you how. Learn More
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