Landlord Resource Guide

Are you ready to be a landlord? Check out these resources below to learn about financing a 2-4 flat, legal information, and property management.

Property Management

Preservation Next Toolkit-Toolkit covering acquisition and rehab, green building, and property management for small multifamily property owners.

Property Owners Resources-Information for property owners on tenant screenings, lease agreements, renewals, renter rights, and more.

2024 Lease Template with Supporting Documents-Lease template including the Residential Landlord and Tenant Ordinance summary and hazard statements for lead-based paint and radon.

Rental Income and Expense Worksheet-Excel sheet for property owners to track expenses and rental income.

Avail Illinois Rental Application Guide– Information on what property owners should and should not include in a rental application as well as free application templates.

Chicago Rents Tenant Connect-Connect to tenants utilizing housing subsidy programs, helping property owners receive guaranteed rent, fill vacant units, and access individualized support.

CIC Property Management Training– CIC offers best-in-industry workshops and training to help current and aspiring owner-operators grow and strengthen their business.

Home Repair

Contractor Interview Worksheet– Questions to ask your contractor during an estimate.

Home Maintenance Worksheet– Seasonal maintenance checklist.

Additional Dwelling Unit (ADU)– Guide on conversions, code compliance, permits, and budgets for the construction of basement units.

DIY Property Repairs– Simple repairs that can be done without a professional

Habitat for Humanity– Home maintenance tutorials and workshops

Property Taxes

Exemptions Pamphlet on property tax exemption eligibility, how to apply, and details on how exemptions can impact your property tax bill.

Appeals– How to file a property assessment appeal with the Cook County Assessor’s office.

Certificate of Error– How to apply for missing property tax exemptions and submit a certificate of error.

Grants

Purchase Assistance

Illinois Housing Development AuthorityUp to $10,000 in down payment and closing cost assistance in the form of forgivable and zero-interest loans.

NHS Chicago– Up to $30,000 in down payment assistance for income-qualified buyers.

Home Repair

City Of Chicago– Up to $10,000 in roof and porch repair grants for income-eligible homeowners.

NHS Chicago– Up to $45,000 in home repair grants for income-qualified owners in high-priority neighborhoods.

Elevate– Free lead risk assessment as well as grant funding to remove lead paint hazards.

Home Energy Savings

Chicago Bungalow Association– Free energy assessments and recommendations for energy-saving products (single-family and two-flats only).

State Of Illinois– Free solar panel installations for properties housing renters that are below 80% AMI.

CEDA– Heating and electricity bill assistance for income-eligible households.

NHS Chicago- Up to $180 in bill credits for income-eligible ComEd customers.

General Resources

Budgeting– Utilize this free worksheet to create a monthly budget and learn more about fixed and variable expenses.

Department of Housing – Has a wealth of resources for 2-4 owners to take advantage of.

Important Questions to Ask Your Home Inspector-10 questions compiled by HUD to ensure an equitable inspection.

Webinars and Workshops– Learn about the homebuying process, achieving financial security, avoiding foreclosure, and more.

Mortgage Relief Scams– Learn how to avoid mortgage relief scams, review options for legal representation, and report fraud.

Consumer Financial Protection Bureau– The CFPB provides educational tools for managing finances and debt, ensuring you are treated fairly by lenders when buying a home, and more.

Working with a Lender

U.S. Bank – 2-4 units

Liberty Bank – 2-4 units

Chase Bank – 5+ units

NLS – 2-4 units

CIC – 5+ units

C3 Fund – Offers Acquisition and Rehab Loans ranging from $75,000 – $500,000

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