Gateville Law Firm

Yorkville Residential Landlord Attorney

Lawyer in Kendall County Helping Residential Real Estate Investors Protect Their Investments

While some property owners make their living exclusively by renting out residential properties, most landlords do so because it can be a very profitable type of investment. Landlords who own just a small number of properties are often self-taught regarding the legal side of their business, and they do not tend to have attorneys on retainer to address everyday concerns. For such owners, it might makes financial sense to retain a lawyer to protect their one or two rental properties. Often, landlords and investors self-taught legal knowledge have gaps and substantial liability risks.

At Gateville Law Firm, we understand certain situations might arise in which a small-scale landlord might need a qualified residential real estate attorney on his or her side. In addition to providing trusted representation for "career" residential landlords and investors, we also offer "as-needed" representation for those who rent out just a few properties.

When to Hire a Residential Real Estate Lawyer

There are many different situations in which it is a good idea to retain the services of an experienced residential real estate lawyer, but most of them can be sorted into three basic categories:

  • Landlord-tenant concerns, including evictions: Whether you are a hands-on landlord or a silent investor, you are responsible for any legal issues that may arise. Tenant laws in Illinois are very strict in regard to the rights of tenants, and with so much information available online, tenants are more knowledgeable than ever before. With this in mind, a lawyer can review all of your lease terms and paperwork so that you can be certain that the proper procedures are in place. A lawyer is also especially important if and when a dispute comes up, including the need to evict a tenant for non-payment, lease violations, or any other reason.
  • Contractor work: If and when the time comes to make improvements to your investment property, you will probably need to hire professionals to complete the work. Your attorney can assist you in protecting yourself and your investment by reviewing contractor agreements and ensuring that the work is completed as promised. By taking action in advance, you will be in a better position to seek relief in the future if problems develop with the finished work.
  • Liability protection: This area can be further broken down into two subsections: preventive measures and responding to legal actions brought against you. On the preventive side, your lawyer can help you create a limited liability company (LLC) to protect your personal assets in the event of a lawsuit against you. Liability prevention also includes taking action to ensure that your property is safe and that you are following all of the applicable state and federal laws that pertain to tenant rights, housing discrimination, and other concerns. Responding to a lawsuit also requires the help of a qualified attorney. If you are facing a legal action related to premises liability, property damage, liability insurance disputes, or any other type of lawsuit, our team can help you.
  • Series LLCs. The Series LLC consists of a Parent LLC, which has sub-LLCs to own each rental property as its' own LLC with increased asset protection. As a Series LLC, each LLC is greatly discounted after paying more for the Parent LLC. Series LLC generally only require one annual report versus multiple annual reports for each LLC.

Gateville Law Firm Team has over 20 years of legal and real estate expertise including multiple employees with significant title insurance background. The Attorneys of Gateville Law Firm have a niche focus on real estate, flipping, and business structure planning law. Our real estate team provides trusted guidance and skilled representation to protect your residential real estate investments.

Call 630-780-1034 Today

For more information about Gateville Law Firm and our approach to residential real estate concerns, contact our office. Call 630-780-1034 to set up an appointment with a member of our team today. We look forward to the opportunity to serve you. At our firm, we help clients in Yorkville, Oswego, Plano, Newark, Kendall County, and all of the surrounding areas.

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