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As a Landlord, you gotta make money.
Shoes to buy, mouths to feed.
You do this with rental income.
But sometimes the real estate market turns hotter than a turkey fresh outta the oven.
And when it does, you may want to cash in and sell a house.
Make sure the lease lets you end a tenancy if...
If you're a Landlord long enough, someone will owe you rent.
And there's always a sob story reason.
Out of town for a funeral.
Hours cut at work.
The new iPhone released, so...
The line of excuses are longer than a Chick-fil-A drive-thru.
Now listen, empathy ain't bad.
But it doesn't...
You get it.
Being a Landlord is risky.
And Lady Luck ain't always on your side.
So you took advice from smart lawyers and started an LLC.
They rambled on about the LLC being a "separate entity."
And how it helps protect your stuff when if you get sued.
Yada yada yada.
You're...
Uncle Sam is smarter than you.
And his laws make your life suck keep you safe.
Case in point:
You've gotta ditch removable batteries in smoke alarms.
Only 10-year sealed batteries will do.
For fun, we asked the retired hippie working the Lowes aisle about sealed batteries.
Good...
You knew this was coming.
But it still hurts.
We told you that HB 2775 was headed to the Governor's desk.
And that he would sign it...
* shudders *
Welp, he did.
So congratulations - you're now a Section 8 Landlord!
That's right.
You must take Section 8 Tenants (if all else...
You: Hey, I’m dropping by tomorrow to inspect the place.
Tenant: I’m in Vegas for two weeks. I don’t want anyone in the home when I’m not there.
* cracks knuckles *
Oh, my bad.
Guess you didn’t get the memo (or read the lease).
You see, I don’t...
The million dollar question.
"You have the best Tenants! What’s your secret?!?”
* clears throat *
”Oh, ya know.
I check Facebook.
Maybe Google.
Nothin’ special - I just go with my gut!”
Who can argue with that?
Hmm... take a guess.
Yep -...
It’s your lucky day.
The *perfect* Tenants want your house.
References check out.
They have money.
And your criminal history is worse than theirs.
* traffic tickets count - nice try *
They want to move in ASAP.
So you sign the killer lease and email it over.
Six hours later - no...
Your Tenants pay a security deposit, right?
* um, yeah... *
Smart move.
It's a great way to protect yourself (and get paid).
But where do you keep it?
It's not your money, after all.
Invest in Bitcoin?
Your personal bank account?
A Mason jar buried in the backyard?
Nah, you know better.
There is...
Google rocks.
It can make you an *expert* on anything.
But sometimes Google is wrong.
Say you want to know how much you can charge in late fees.
If you’re not a Legal Plan Member, you can’t just call a lawyer for the answer (without getting billed).
So you Google it.
And...
So, um…
Remember that law we mentioned a few months back?
The one forcing you to be a Section 8 Landlord.
At the time, it just passed the House.
But now it’s headed to Gov. Pritzker’s desk.
And it’s a sure bet he signs it.
* Googles Section 8 housing *
Section 8...
“Yo… we got a leaky sink!” shouts your Tenant.
By now, your plumber is on speed dial.
He fixed it lickety-split (no major issues).
Until that night.
Three missed calls - in less than a minute - from your Tenant.
And this text - “Your plumber STOLE my...