A Quick Forecast on the Chicago IL Real Estate Market this April 2022

by Apr 30, 2022

If you’re managing several Chicago rental properties, you may be familiar with the unfortunate circumstance of having bad tenants. As a landlord, you’ve probably encountered all kinds of bad tenants at least once in your career. 

Tenants who can’t pay, tenants who destroy your property, and tenants who violate your lease agreements are all examples of bad tenants. Now, you know that they’re stressful to deal with. What can you do so you don’t experience having bad tenants? Or what are your options in case you do have to deal with them? We have solutions for you and more, so keep on reading.

What to Do When You Have Bad Tenants in Your Chicago Rental Properties

Being a landlord is hard work, and we’re here to lessen the burden with some tips on how to deal with bad tenants and how you can avoid them early on.

Screen Your Tenants Thoroughly

One of the best ways to avoid dealing with bad tenants later on is to thoroughly screen them. Ask for valid documentation so you can look into their character and financial background. Watch for recent illegal activity and be extra mindful of who you allow to live in your home. As much as possible, choose tenants with clear track records and who always holds up their end of the bargain. You want tenants who pay on time, so if you have access to their credit records, best do a thorough sweep for any anomalies in their records.

Schedule Inspections

Scheduling regular inspections is one way to keep bad tenants inline. Periodic inspections of your rental property may reveal signs of illegal activities or other potential problems, like discovering illegal tenants or pets. At least twice a year, inspect your rental property for any potential maintenance concerns. If you see that the tenant is not on top of maintaining the property, try to address it sooner rather than later.

Evict Your Tenants

Evicting your tenants should be your last resort as this is very difficult to do. Not only is it mentally and physically exhausting, but the law also favors tenants, so it can be difficult to evict them if you don’t have a compelling reason to.

As a landlord, it is vital to be familiar with the eviction requirements and laws in your area. However, in many states, you can only evict a tenant for one of these three reasons:

  • The tenant failed to pay rent
  • The tenant failed to move out once their lease ended
  • The tenant violated the lease terms

So, you definitely cannot evict a tenant just because you don’t get along with them. 

Explore Legal Options

If all else fails, you should start exploring other legal options. Such options available to you are suing your tenants or getting their wages garnished. However, these largely depend on the situation and the laws involving this situation. You might need the expert opinion of an attorney before you can take other legal action.

Sell to a Professional Home Buyer!

If you don’t want to deal with your unruly tenants and no longer wish to manage your rental property, you’ve come to the right place. If you find yourself thinking, “how do I sell my house fast in Chicago, IL” then maybe you should consider selling your property to a cash home buyer. Selling to a professional home buyer like Onyx Homes LLC is one of the best decisions you can make for yourself and your rental unit. 

If you’re looking for a cash home buyer and are interested in selling your home, we buy houses for cash in Chicago, IL here at Onyx Homes LLC. We are a real estate solutions company that specializes in solving your real estate problems for you. If you have bad tenants, don’t worry; you don’t have to evict them, we can take care of that and more. After you’ve sold us your home, you no longer have to think about bad tenants in your Chicago, IL home. 

READY TO SELL YOUR HOME?

Here at Onyx Homes LLC, we are experienced cash home buyers in Chicago, IL. We will provide you with the best offer for your home and deliver a quick and painless close to the buying process. If you don’t want to go through the hassle of listing your home and working with a real estate agent, going through the motions of a regular sale, you can always opt to just sell your home to us! We’ll take care of the rest.

Our goal at Onyx Homes LLC is to improve the overall quality of housing for the residents of Chicago, IL. We buy houses in just about any condition and situation, including foreclosure, late mortgage payments, or fair market value. You can either take a step forward into your new life by accepting our fair cash offer, or take your chances with the long arduous process of traditional home selling. For more information about our home buying process, give us a call at (847) 262-9012 today.

WE BUY HOUSES FAST FOR CASH

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