accidental landlord in lakeview (Chicago: for sale, real estate, apartment)

[mr aztec]

Hi, I guess the term for people like me are accidental landlords--job transfer will require me to move and too underwater to sell. But that is a topic for another day.

I'll likely be trying to lease my 2b/2b in Lakeview East (or East Lake View--I know some get picky if I don't say it just right--whatever is right). Decent upgrades, lots of space, great location.

I'm comparing to what I see on Craigslist and think I could rent my place between 1500 and 1900. I'll prolly side on the lower end as the move is kind of sudden and can't do many showings. Anyways, I'm looking for tips in general:

helpful websites/forums
whether to use property mgmt since I'll be very far away
whether to use tenant finding service (yes i know they are expensive)
better ways to price my rent
best ways to advertise, craigslist?

Much appreciated

[soulful]

Hello.

Most folks who are renting a condo don't use a property management service. I don't know how many units are in your building nor if the condo association has onsite maintenance?

I would try to rent it myself using Craigslist or the Chicago Reader. You could also list it through the Apartment People or one of the other apartment rental agencies. They used to charge the landlord one months rent as a fee (but that may be negotiable).

Also, be sure to check with your condo assocation regarding any requirements they may have. Many require that they approve the tenant, do a credit check, etc. This is particularly true of larger condo buildings. I am assuming your unit is a condo since you said "2br, 2ba" and there aren't many single family homes in East Lakeview that meet that criteria.

Also, I have noticed recently that a lot of rentals are listed with regular realtors through the MLS(Multiple Listing Service). I usually look at condos "for sale" through the Baird Warner website and when looking at a lot of the big buildings on LSD I happened to notice lots of rentals "popped up". I believe that rental listings through a real estate agent are non-exclusive listings (you may want to verify, however, that was the case in the past).

Actually, you might do all options simultaneously: list it as a rental with a realtor (assuming non-exclusive listing), list it with one or more apartment rental agencies (again, assuming non-exclusive listings, but these generally are), and run ads on Craigslist. And just see what comes through first for you..

Good luck to you..