Hi, my name is Mark Ainley GC Realty and Development. And when I talked about today is renting your property out in Schaumburg, Illinois.
We're located not too far from there in the town over Roselle, but we've been managing in Schaumburg for about 15 to 16 years now, so we've gone through the start of the rental license program to what it looks like today. So any property in town that is leased out is required of a rental license now, that includes residential and commercial. We are going to talk today about residential. If you want, we can talk about commercial. Feel free to reach out using my information below.
Schaumburg Rental License
But on the residential side, all properties are required to have this rental license. Now, for townhouses and condos, it's a little easier in Schaumburg where you just need to simply apply for the rental license and pay the fee of annual basis. Now, for single family homes, they do require inspections. So it's crucial that when you fill out the paperwork, you also get the inspection setup. It's a lot of people I see and make mistakes is they will fill out the rental license paperwork, submit their payment and then never get the inspection. And then they wonder why they got a $500 fine for not following the rules. So the inspection is not too gruesome. You know, they're looking for a lot of life safety things. They're making sure gas is leaking in and making sure CO2 detectors are in place. Smoke detectors are in place. But a couple of the things that they do require is in addition to them coming out, inspecting it as they require a gas appliance certification. Which means that you as the owner, will need to hire an HVAC specialist to come out and certify that your gas stove, your gas fireplace, your gas hot water heater, your gas furnace is all in operational condition. And you'll be required to put that your Tech to have that on a letterhead stating so.
What do I need to keep in mind?
Also, if you have a wood burning fireplace, they do require that it is determined to be safe for use. Which means simply up to spend the couple hundred dollars to have a chimney sweep come out and make sure that it's clean and they'll also certify on their letterhead. All the things get submitted in addition to passing other privates from the inspection. If you fail to get a re-inspection, isn't that bad. Now Schaumburg is great too, in the sense that you can apply you can get the pay the fee, move somebody in and then handle inspection as it goes. It's always easier to get the inspection work done in advance of somebody moving in, but it's not like some of the other villages that require it in advance. The other thing that you want to make sure is that Schaumburg also has the crime free addendum that it has to be part of the lease. Now that requires any landlord to take the crime free class, which we Schaumburg is a five hour course that all landlords have to take.
What if I have a property manager?
Now, if you're having a property manager, property manager should be certified with the village already. They should know exactly how to do this. Very smooth. They should have the vendors to get out there to certify your fireplace and certify your gas appliances. So, I recommend that you look into the property management option just to even handle this part. Even if it is the largest labor intensive piece of the whole rental license part. You can reach out to us anytime. I love to share with you more. Like I said earlier, we have been managing properties in Schaumburg for for many years now and we're very familiar with the process and the inspectors. We can chat with you in advance and can even help you as well to put you in the right direction for the right vendors. Love to share with you more information on how we manage properties in Schaumburg. So Mark Ainley GC Realty and Development. Thank you.
Download your FREE copy of: What They Don't Tell You About Real Estate Investing
See our available Turnkey Cash-Flow Rental Properties
Please give us a RATING & REVIEW (Thank you!)
Want extra Hacks & Tricks? Follow us on Facebook & Youtube!
Looking for a breakthrough in your career? Join Our Team!
SUBSCRIBE on to our podcast on iTunes | Spotify | Stitcher | TuneIn Radio
Need A Responsive Property Manager? We’ve got you covered!
If you have any questions Schaumburg Rental License, please contact us at:
GC Realty & Development
219 E Irving Park Rd.
Roselle, IL 60172