State Specific Question About: ILLINOIS (IL)

I had unit to become vacant on June 10th. I advertised and had a little activity. (Thanks for the phone screen notes - I will save on gas now). My friend reached out to me and said can I move in because my home is foreclosing. I told him I needed to run the credit to find out and he only had problems with mortgage on his credit. At the same time a really good prospect wanted to apply but she wanted move in by Aug 1st. I told that candidate sorry but I have someone who would like to move sooner. So I pinged my friend every week to make sure he would be moving in. On July 1 he said I will be moving in next Friday, July 8th. Last night I pinged him and said I will be bringing over the lease and keys - he said no thanks I'm going to try and live rent free for another year until foreclosure catches up with me.

Guess who has to pay operating cost out of pocket this month - me (miss stupid)

Can I sue this idoit for one month's rent although he did not sign a lease? All I have is text messages on a promise to take the unit.

No you cannot sue him.

You just dodged a bullet.

Never rent to friends or family. It will end in disaster. Every time they have a financial problem they will skip paying you because "Deb will understand. After all we are friends"

You can sue for anything. Whether you will win or whether it is worth the time and effort are another thing.

In this case, move on. I would call the other prospect, explain that the other tenant did not take it, it is available if they still want it, they have first chance at it.

From 'friend' to 'idiot' in less than a month - that's probably about right. Welcome to the "NEVER do business with friends or relatives" rule.

Getting a non-refundable holding fee could have helped you avoid the lost opportunity cost. The friendship would have still ended up being strained (because your friend would have expected you to refund the fee because of your friendship) but at least you would have gotten some cash out of it.

Lesson learned right?

I say let it go. People for the most part are ignorant. Not quite the word I want to use, but the best one I can think of at the moment.

When it comes to LL they all seem to forget we LL have mortgages, maintenance and bills to pay on our properties. Last weekend my husbands mother, sister nephews etc. came over. Wanted money to start up a cake decorating business. Turns out they think I don't work for a living and DH and I are rollling in money. LOL.

Keep your rentals business only and family/friends seperate. In fact, I'll go a step further and warn you about hiring family and friends to work for you as well.

A good rule of thumb to tell prospective tenants (i.e., those whom you have approved through your screening process)is that until a lease is signed, the rental unit remains on the market.

Ditto Gail.

I was supposed to meet tenants last Saturday to sign lease, after two weeks of applications and vetting, etc.

They didn't show for appt. and kept calling to reschedule later that day. When I did speak to them, I mentioned that my lease bans illegal activity, such as drugs, and ALL smoking in the house. So they changed their mind.

Fortunately, right before the lease appt., I showed it to someone else who wanted it and his roommates started sending their applications.

Unfortunately, his professor told him that it is too far from campus (it is only four miles, but the university tries to discourage commuting)

1. It ain't rented til it's rented.

(signed lease and money in fist)

2. NEVER EVER NEVER rent to friends. Now you know why.

I guess you have found out that he wasn't really much of a friend. Not only does he seem willing to screw his bank but he has not qualms at tucking it to you.

A good friend will come bail you out of jail. A real friend would be sitting in the cell next to you saying "Dammit man we effed up!!"

I wouldn't waste my time or energy bothering to sue him but I would definitely cross him off my Christmas card list.

This is only one of the many lessons you will learn from. Hind sight 20/20, I kick

myself as I look back and remember the little things tenants said on the phone that were the warning signs of things to come and I did not listen to that little voice inside me. I paid for it with many sleepless nights after that. As Dave Ramsey says, count your mistakes as paying "stupid tax".