3 ms·
A reputation economy for tenants/landlords would be worth a lot to both parties. I just bought a rental property in Chicago, and I'm terrified of a bad tenant
by ShabbyDoo 14y ago
A reputation economy for tenants/landlords would be worth a lot to both parties. I just bought a rental property in Chicago, and I'm terrified of a bad tenant because the state/local laws are so pro-tenant. It could take me months to get rid of someone, and I risk penalties if I don't do "essential" things like provide a timely statement of interest earned on a tenant's security deposit. I'd gladly accept $100 less/month for someone who has proven himself reliable in the past. Conversely, I'd like to develop a verifiable reputation as someone who hasn't screwed over any tenants.
A friend who is an attorney lives in Texas (a very pro-landlord state) and has had to threaten legal action against his past two landlords to get back security deposits. Even as someone who is more capable than most at fighting back, he would love to avoid the trouble by picking from landlords who haven't screwed over others.