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| Wrigleyville Duplex Down for 'Rent by Owner' -- $2395/month |
Not every private owner needs a Realtor to fill a vacancy. In a rental market with tight inventory -- like Chicago's West Lakeview or Wrigleyville Neighborhoods -- a landlady can simply place an ad in Craigslist, hang a .99 cent sign on the fence with a scribbled description, and if she's not smoking crack with her morning whiskey when she decides on a price, probably get the unit rented after a weekend or two of showings. Even in the 'Off Season.'
Below are the three traditional rental seasons in Chicago:
1) May 1 through April 30 the following year.
2) October 1 through September 30 the following year.
3) Off-Season (any 12 month lease that begins or ends outside of the parameters of 1 & 2 above.)
And if she is 'Pet Friendly', i.e., allows a dog or two-- then she can even be a little crack smokey on her rental price.
Still, there are several other (and more important) issues concerning the Application/Acceptance Process: Fair Housing, non-discriminatory qualifications & advertising, background & credit check, references, security deposit requirement per Chicago Ordinance, etc., in which case, the services of a Realtor may well be worth the usual/customary fee of one month's rent.
If you think you got all that handled then by all means, DIY. If not, I'm a Chicago Realtor... let's chat.
Geno Petro | Chicago Realtor
