A city with old buildings like Chicago must take care to keep its residents safe. Building code violations warn owners to make repairs or improvements that will prevent tragic accidents, such as fires, from taking lives. Such violations often carry fines, and owners not only have to come up with funds to pay the penalty, but finance the repairs, which are often costly. Owners or landlords who undertake the repairs themselves may save money, but they also run the risk of further violations if the work is improperly done.
Purchasing a home can be exciting and a little frightening. Despite careful budgeting and planning, there is always the fear that an unexpected expense will make residential real estate ownership a struggle, perhaps jeopardizing the owner's ability to keep up with mortgage payments and other costs. One woman in a town south of Chicago was shocked when just such an expense arose. However, the seemingly underhanded manner in which she accrued the expense may be a cautionary tale for others.
Chicago continues to draw foreign investors with its valuable properties and potential for development. Investors from across the world have spent billions of dollars on commercial real estate in the Windy City in the past few years, and while the numbers have dropped, sales and profits remain high. A recent exchange continues the trend of foreign investors banking on Illinois for their real estate success.
Buying a home is one of the most exciting things you can do. At the same time, this can bring quite a bit of stress to your life.
As a landlord, you may worry about your property and the people whom you have rented it to for a number of reasons, whether you think that their animals will damage the premises or you are not receiving rent on time. Unfortunately, some tenants in Chicago violate the law by committing various types of drug offenses. If you know that a person renting your home or apartment is carrying out unlawful drug-related activities, you should look into your legal options and address the situation at once.