After Shelter-In-Place: A Primer For Landlords – Part Three in a Four-Part Series Shelter-in-Place orders, while certainly prudent, have created financial difficulties for many. And while recent data has shown that tenants have continued to pay their rent at a higher-than-expected rate, forecasts tell us that the worst has yet to come, and that requests… Read more »
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We don’t know exactly when the Illinois Shelter-In-Place order will be lifted, but we can, and should, start preparing for it. And while the laws and situations are still changing, here are recommended best practices for reopening your buildings to tenants.
In the residential arena in particular, one common theme of debate has been the impassioned (and sometimes menacing) demands for rent relief in the form of “rent strikes,” and full-on rent forgiveness by landlords. Municipalities have, in varying forms, discussed, considered, even proposed laws requiring that landlords either forgive or defer rent collection. Not surprisingly, landlords have resisted – mainly citing their own mortgage, labor, tax, insurance and other operational costs.
Buying or selling the right property — and at the right price – always feels like a big win, for everyone involved. And it is. So, oftentimes, real estate agents will finish one deal and move quickly on to the next. But the most successful agents understand that every closing opens up a whole host… Read more »