Posted on October 24,2022 in Real Estate

Naperville and Yorkville Real Estate Lawyer for Landlords

What is a Limited Liability Company?

Limited Liability Companies (hereinafter referred to as “LLCs”) are the preferred choice of business entity for real estate investors (except for real estate owners involving in flipping real estate). 

LLCs are increasingly popular because of their flexibility, liability protection, and flow-through tax treatment. In this article, we will discuss the pros and cons of an LLC for real estate investors and other considerations that must be considered by real estate owners and investors.

Often, real estate investors feel that liability insurance is a safe liability decision other than investing in an LLC. Assets owned in your personal name have significant liability risks and liability insurance limits that risks (to some extent), but liability insurance has gaps. 

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 Posted on October 21,2022 in Residential Landlord Evictions

Procedures for Residential Eviction for Romeoville, Will County

An eviction is the process of getting a court order to remove a tenant and other occupants from a rental property. A court order is required to evict someone from a property. In Will County, the Sheriff will schedule the eviction. In Will County, the Sheriff will then schedule a date to conduct the eviction. The time to execute an eviction and evict a tenant varies.

Summary process is the court case a property owner files to get a court order. An order of possession is the court order that allows a property owner to evict a tenant. The Will County Sheriff is Sheriff’s Office to evict a tenant and their belongings out of the property after the order of possession court order expires. 

The Illinois (IL) Rental Payment Program (“ILRPP”) is administered through the Illinois Housing Development Authority. The Illinois Rental Assistance Program (“IRAP”) unlike ILRPP is open and is accepting eligible participants on a rolling basis.  IRAP provides housing assistance to tenants and direct financial assistance to property owners. IRAP offers security for tenants and financial assistance for property owners. The program provides housing assistance to tenants and directly to property owners with the objective of providing housing security for tenants. 

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 Posted on October 17,2022 in Residential Landlord Evictions

Since Covid-19, Landlords are often left wondering what the eviction process now looks like. Below are some answers to frequently asked questions surrounding court evictions, otherwise known as cases in “Forcible Detainer and Entry.”

How Long Does an Eviction Take?

It is typical for residential landlord evictions to range anywhere from six to ten weeks, from start to end. Court availability can sometimes dictate whether a case can be heard sooner or later. However, tenant cooperation will largely determine how long the eviction will take. Things to consider when thinking of tenant cooperation include whether the tenant is purposefully evading service, whether the tenant fights the eviction, and whether the tenant is open to a settlement agreement to shorten the process.

How Do I Start an Eviction Against Current Tenants?

In order to initiate an eviction against current tenants, the landlord, through themselves or a private process server, must serve a notice onto the tenants. The most common types of notices are a five-day notice and a thirty-day notice.

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 Posted on October 10,2022 in Real Estate

Aurora and Plainfield Real Estate Lawyers for Articles of Agreement

Articles of Agreement are known for their installment land contract, which usually requires two closings. Articles of Agreement are also land as “Land Sale Contract” or “Articles for Deed” or “Rent to Own” Installment Contracts. Going forward, we are going to refer to Articles of Agreement to describe seller financing and installment contracts. The benefit of seller’s financing is ability to avoid commercial lending requirements such as debt to equity ratios and poor credit scores.

Installment Contracts

An installment contract is a method of establishing a real estate transaction, which is an alternative to traditional mortgage financing. Under the installment contract, the buyer is essentially a “renter” with the ability to acquire an ownership interest in the future. An installment contract also involves an option to purchase. An option to purchase is the ability of the buyer to obtain traditional mortgage financing within certain time limitations. Furthermore, the buyer must also maintain a healthy renter and owner relationship. 

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 Posted on October 07,2022 in Residential Landlord Evictions

Real Estate Attorneys for Landlords and Property Owners

This article summarizes the benefits and disadvantages to placing rental properties in a Limited Liability Company in the State of Illinois. A Limited Liability Company, or otherwise known as an “LLC”, is a hybrid between a partnership and a corporation. In Illinois, LLCs have increasingly become the favorite business entity for property owners.  

What are the Benefits of an LLC?

There are three (3) major benefits on an Illinois Limited Liability Company or otherwise known as an “Illinois LLC” or “LLC”. The following is the first major benefit of an LLC:

1. Limited Liability Protection

The major benefit for rental property owners is limited liability protection. Simply put, this means that the business and the property owners are separate and distinct from one another. The basis of the LLC is to provide asset protection for the rental property owners.  A major concern for property owners is liability issues that may threaten the financial viability of a person or family. For example, lawsuits that typically deal with an LLC are limited to the business aspects of the corporation, rather than impacting a family’s assets such as other rental properties.  

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 Posted on September 30,2022 in Landlord Eviction

Landlord Attorneys Serving Warrenville, Wheaton, and Glen Ellyn

Landlord Evictions, LLC represents landlords in disputes with their tenants. Our law firm exclusively represents the interests of real estate investors and landlords. Our law firm specializes in representing landlords in the areas of Lisle, Naperville, Warrenville, Glen Ellyn, Lombard, Wheaton, and the surrounding areas of DuPage County.

Causes of Evictions

Evictions or otherwise known as “forcible entry and detainer actions” are caused by the following issues:

• Unpaid rent or slow payment in rent

• Illegal Use of Property

• Lease Violations

• Terminate Written or Oral Lease (Month to Month Rental Tenancy)

The above reasons are the most common reasons for eviction proceedings. Non-payment of rent are addressed by 5-day notices. A 5-day notice is a type of written notice that gives a tenant actual notice of their entire unpaid rent. The 5-day notice requires full-payment of rent (the full amount of rent). Landlords may not accept partial payments of rent after the eviction notice expiration period (or they risk invalidating the eviction notice).

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 Posted on September 28,2022 in Residential Landlord Evictions

The Will County Residential Landlord Eviction Process will be discussed in this article. The eviction process is also called the “Forcible Entry and Detainer Process” otherwise known as the eviction process for residential evictions. This blog will focus on the Circuit Court of the Twelfth Judicial Circuit or otherwise known as the “Will County Circuit Court”. 

Joliet and Will County Residential Eviction Procedures

Will County Government and the Will County Courthouse has developed a partnership to assist residents, which have a likelihood of becoming homeless if the eviction process is finalized. Furthermore, the Illinois Rental Payment Program or otherwise known as “ILRPP” is the State of Illinois’s version of the rental assistance program to aid residential landlords and tenants. The purpose of the residential rental assistance programs is to provide housing assistance to tenants directly to landlords with the goal of providing housing stability for tenants.

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 Posted on September 21,2022 in Residential Landlord Evictions

Evictions are also known as “forcible entry and detainer actions” in the Bolingbrook, Romeoville, Joliet, and Naperville areas of Will County, Illinois. Landlord Evictions, LLC concentrates exclusively on behalf of landlords. Will County is one of the several counties that we offer our services and expertise in prosecuting prosecute eviction cases.

At the first court date, there are several possibilities as to what will happen. The first possibility depends on whether the Will County Court has jurisdiction over the Defendant and Unknown Occupants. To successfully obtain authority over the Defendants, the Plaintiff (the landlord, through their lawyer) must properly serve the Defendant (the tenant) and Unknown Occupants a summons with rental relief language attached. 

Proper Service

Personal jurisdiction is a fundamental right that every Defendant has. The law is clear that a Defendant may not be sued when they have not been properly notified under Illinois law. The required knowledge does not mean that the Defendant knew about the court process, but instead that a court officer such as the Sheriff’s Office or a private process server served the Defendant with the Eviction Summons and Complaint. Essentially, the Defendant must be put on notice that a case is against them is happening, which, in the eyes of the court, occurs upon proper service.

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 Posted on September 14,2022 in Residential Landlord Evictions

This blog article discusses the eviction process or otherwise known as the “forcible entry and detainer process” throughout Fox Valley, including, but not limited to:

• St. Charles

• Geneva

• South Elgin

• Fox River Grove

• Fox Lake

• West Dundee

• Cary

• Algonquin

• Campton Hills

• Elgin

• Aurora

• North Aurora

• Montgomery

• Sugar Grove

• Yorkville

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 Posted on August 24,2022 in Residential Landlord Evictions

Illinois HB 2877 signed by Governor Pritzker created the Covid-19 Federal Emergency Rental Assistance Program Act, which aimed to provide additional protections for renters and homeowners. The goal of HB2877 was to provide housing stability and provide rental assistance relief to rental property owners and renters. In Illinois, property owner evictions were sealed by HB2877 through August 1, 2022.

August 1, 2022

HB 2877 will allow forcible entry and detainer actions or otherwise known as “eviction cases” to be public record against a tenant’s record. The Illinois Rental Payment Program or otherwise known as “ILRPP” provides direct funding up to $25,000 for qualifying tenants and landlords for failure of a tenant to provide rental payment. The purpose of ILRPP is to provide funding to landlords to assist tenants to remain in their home and provide housing stability. 

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