I own two condos in Chicago’s River North. Both tenants have not paid rent since May/June 2020—both have been GAINFULLY employed during the pandemic.— Kathy Smith (@KAKflipflopgirl) August 5, 2021
I can’t sell. I can’t evict. I send letters demanding payment of rent due—and I’m accused of harassment.
- Higher rents because of this additional risk.
- Fewer landlords in the future. Big companies survive; smaller guys and gals die.
- Governments step in with rent controls which leads to lower quality spaces and a further reduction in supply.