What is the best way to work through tenant defaults?

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Working Through Tenant Defaults

 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 »

Safety AND privacy – How do you find the proper balance?

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  Post-Shelter-In-Place: A Primer For Landlords – Part One in a Four-Part Series 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 the most current answers to the most frequently asked questions:… Read more »

Does government-mandated rent relief require just compensation under the takings clause?

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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.

How can I control real estate showings in the shadow of COVID-19?

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Over the course of the past week, we have fielded dozens of requests for clarification on how property owners and homeowner associations can protect themselves from exposure to COVID-19 in the context of real estate showings. Because of the critical importance that social distancing plays in avoiding catastrophic levels of infected citizens overwhelming our medical… Read more »

How can I protect my Development project from COVID-19?

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  The health and economic impacts of the Coronavirus epidemic will assuredly touch virtually every corner of the World before it is brought under control. And while the virus has many fearing for their health, it is casting a much longer and darker shadow over many sectors of our national and global economies. As voluntary… Read more »

What can I do, as an agent, to provide my clients with additional value AFTER they’ve closed on their sale of purchase?

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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 »

Must surplus funds from a completed homeowner association project be refunded to Owners or can it be used in other ways?

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Surplus Special Assessment Funds

When a homeowner association has to undertake large capital repair projects, it will often pay for these projects by way of charging special assessments to the owners.  Previously, when there were surpluses collected for those projects, Illinois law prohibited refunds to the owners, past or present. However, as of January 1, 2018, absent express directives… Read more »