Posted on August 22, 2022 in Residential Landlord Evictions

Why Landlords Should Consider Setting Up an LLC?

A Limited Liability Company or otherwise known as an “LLC” is the preferred method of incorporation for real estate investors. The purpose of an LLC is for the following purposes:

• Limited Liability Protection

• Pass Through Tax Treatment

• Flexibility of Management Structure

Limited Liability Protection

One of the primary reasons of setting up an LLC is limited liability protection. As a rule, setting up an LLC creates separation from the property owner or real estate investor that set-up the LLC. The business purpose of setting up an LLC is to protect one’s personal assets from liability exposure of rental property. For example, if the LLC cannot pay its’ debts or faces a lawsuit or other liability exposure, then the LLC’s creditors cannot go after the LLC’s owner’s personal assets.

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 Posted on August 17, 2022 in Residential Landlord Evictions

In this blog article, we will discuss quitclaim deeds and how to transfer your property ownership into an LLC or otherwise known as an “Limited Liability Company”. 

Kendall County Quitclaim Deed Attorney for Real Estate Investors and Property Owners

A quitclaim deed enables a new property owner to obtain whatever the current owner has in the property when the real estate deed is signed and delivered. Hence, a quitclaim deed is unlike a warranty deed because the new property owner gets the property interest that was previously owned by the past owner. Therefore, liens, judgments, and mortgages will still require title clearance for a sale of the property to occur.

Does a spouse have sign when the property involves investment or vacation property?

Generally, a spouse does not acquire homestead rights in investment, rental, and/or vacation property. A personal residence is a property interest where a current spouse must sign a quitclaim deed because of homestead rights.

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 Posted on August 15, 2022 in Residential Landlord Evictions

This blog article will discuss the forcible entry and detainer process in Yorkville and Kendall County. Property owners understand the forcible entry and detainer process as “Landlord Evictions.”

Kendall County Landlord Evictions

In Yorkville and Kendall County, evictions are processed in Room 116 of the Kendall County Courthouse. The first step in the eviction process is to prepare and deliver the eviction notices. As a rule, the most common eviction notices are a five-day and thirty-day notice. 

Five-Day Notice

The purpose of a five-day notice is a written notice that gives the tenants warning that they have five days (not business days) to pay the full rent day or face the prospect of an eviction. We highly recommend that a private process server serves the five-day notice. A private process server is a licensed professional that is authorized to service official court paperwork to tenants. 

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 Posted on August 10, 2022 in Residential Landlord Evictions

In our experience, residential landlord evictions range from six to ten weeks in Will County to be processed from the beginning to the end. Landlords often wonder how long the eviction process takes in Will County and nearby Communities. 

An eviction proceeding may also be known as a “forcible entry and detainer action”. Landlord Evictions, LLC processes evictions for landlords exclusively in a cost-effective and efficient manner. The process if broken down into five parts.

The residential eviction process in the Joliet, Plainfield, Bolingbrook, and Romeoville and nearby areas involve a five-part process:

• Eviction Notice is the first step in communicating with the tenant(s) of a problem such as non-payment of monies; termination of a month-to-month rental tenancy; and/or a lease violation. We recommend personal service to deliver the eviction notice because otherwise, the eviction notice may be ineffective.

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 Posted on August 08, 2022 in Residential Landlord Evictions

Yorkville and Kendall County Real Estate Investors Attorney

At Landlord Evictions, LLC, we represent real estate investors and property owners with regard to their real estate transactions in Kendall County including Yorkville, Oswego, Plano, Plainfield, Newark, Sandwich, Somonauk, and nearby areas. A cash deal is a strong offer on a residential real estate property.

The most formed contract for residential real estate closings is the Multi-Board Residential Real Estate Contract 7.0, which dictates a standard contractual agreement that is used by realtors, buyers, and sellers in the suburbs of Illinois. A real estate investor or property owner that offers a cash offer is a strong position to obtain an accepted real estate contract.

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 Posted on August 03, 2022 in Residential Landlord Evictions

Residential evictions are complex matters for landlords and real estate investors. At Landlord Evictions, LLC, our attorneys, and staff specialize in Landlord Evictions exclusively representing Landlords. In this blog article, we will discuss the eviction process in Will County and Kendall County. Both counties have similar processes in place.

The first step in prosecuting a residential eviction or otherwise known as a forcible entry and detainer is delivery of the eviction notice. The most common eviction notices are the thirty (30) and five (5) day notices. There is also a seven (7) and ten (10) day eviction notice. We will not discuss the later two eviction notices in this article.

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 Posted on August 01, 2022 in Residential Landlord Evictions

Property Protection Attorney in Yorkville and Kendall County

Property ownership is a big responsibility and is a huge liability concern. Real estate investors and landlords are often ill-prepared in how they structure their rental property ownership structure. Proper business structure is vital for real estate owners because one lawsuit can wipe out a lifetime of wise decisions.

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