What You Must Know About Renting Your Property In Roselle
As a local Property Management firm in Roselle we have managed hundreds of townhouses, condos, & single family homes in Roselle since our start in 2003. Roselle can be tricky for Landlords because it falls into two different counties Cook & Dupage which means depending what part of town you are in there may be different rules. If you are renting now or looking to rent your property in Roselle these are a few things you must know to reduce your risk.
City Of Roselle Rental Requirements
- Roselle Rental License Requirement — Good news here is that there is no rental license or occupancy permit requirement in the Roselle for owners that want to rent their place out more than 31 days at a time. This means any short term investor Landlords will need to complete the short term rental requirements.
- Roselle Rental License Inspection — Since there is no rental license or occupancy permit requirement in the Roselle that means there is no rental license inspection. This may be different for short term rentals.
Cook County Roselle Rental Requirements
- Cook County Just Housing Amendment — For Roselle, or anywhere in Cook County, all housing providers must follow the Just Housing Amendment that was passed in 2019 and dictates how you underwrite potential rental applications. See “Just Housing Amendment — Are You Screening Correctly in Cook County/Chicago?” for more information on what you must know.
- Cook County RTLO — For Roselle, or anywhere in Cook County, all housing providers must follow the new Cook County Residential Tenant Landlord Ordinance that was passed in 2021. This ordinance was the largest set of restrictions put in place for Roselle housing providers ever and there are severe consequences if not followed. Read more on what you must know about the Cook County RTLO.
Dupage County Roselle Rental Requirements — You’re in luck! There are no specific Dupage County rental/landlord laws you must follow. Now of course this can change so be sure to stay up to date on what is going on or hire a Property Manager that is familiar with the requirements.
With so much experience in Roselle over the last 20 years we are able to handle any of these county requirements and know how to comply with all of the laws and regulations on behalf of our clients. Below are some additional commonly asked questions when it comes to renting a property in Roselle:
Q. Do I have to obtain a rental license if I am going to rent my property in Roselle?
A. No. There is no rental license or occupancy permit requirement in the Roselle.
Q. If I am looking to rent my home in Roselle do I have to follow Cook County rules or is that just in Chicago?
A. Yes. Part of Roselle still falls in Cook County (mostly on the north side of town). The newer Cook County laws do apply to all housing providers in Cook County sections of Roselle. This means the Just Housing Amendment and the Cook County RTLO must be part of your process.
Q. Is there a specific lease template I must use if I lease my home in Roselle?
A. Yes. If you are in Cook County, there is a specific lease template and many addendums and attachments Roselle housing providers must provide when signing up a new tenant. In addition to what is required by the Cook County RTLO.
Q. Is there a limit to the rent amount I can ask for from a tenant?
A. No. There is no limit to what amount you can ask for but the renter pool will dictate supply and demand reaction. When you ask too much you do attract little showing activity or less than qualified activity.
Q. My condo/townhome in Roselle is within a Homeowners Association (HOA) so do I have to follow Roselle and Cook County rules or just my HOA?
A. Yes. You must still follow Cook County (if located in Cook County) in addition to the rules and regulations your Homeowners Association has in place. I would seek permission to rent your condo/townhome from your HOA as soon as possible because there may be restrictions you are not aware of or a possible wait list for owners looking to rent.
Q. I live out of state so do I still need to take the Crime Free Seminar for my rental in Roselle?
A. No. There is no crime free requirement for Landlords in Roselle, Illinois.
Q. I have been renting my rental in Roselle for 4 years and I never registered for the rental license or the crime free seminar and now that I know what should I do next?
A. Nothing. There is no rental license or occupancy permit requirement in Roselle.
Q. Should I hire a Property Manager to manage my rental in Roselle?
A. Yes. A Property Manager can take the risk off your back with our extensive experience managing properties in Roselle, working with the city of Roselle, and following the Cook County RTLO and Just Housing Amendment. In 2020 GC Realty & Development took an active role alongside the NBOA to advocate on behalf of housing providers to limit restrictions Cook County was trying to put in place on everyday housing providers like yourself. It was our podcast, Straight Up Chicago Investor, that helped get the word out to Housing Providers and Property Managers around Chicago.
Q. How much can I rent my home for in Roselle?
A. We would love to help you determine a rent range of what you home can demand in the open market so reach out to us today or feel free to to use our free rental analysis tool and get pricing and comparable properties on a single report immediately.
Q. Should I sell or rent out my home in Roselle in today’s real estate market?
A .To help determine your financial gain by renting out your property over selling we have developed a Sell Vs Rent Calculator where you can see what your wealth being built over time can look like by NOT selling and renting the property out. Remember there are 5 ways to make money in being a real estate investor.
Q. Does it make sense to lease and manage my Roselle rental myself?
A. No, not if you value your time and want to limit your risk. There are day to day obligations when renting your place in Roselle and it will take time to learn, plus there is a level of risk for each if not done 100% correctly. I am not saying private housing providers are not able to figure it out and do it by the book, but I am saying your time is worth a lot more than what you will pay a company like GC Realty & Development to handle it all for you. Not to mention the risk you pass on for us to reduce for you.
Q. How much does it cost to hire a Property Management or Property Manager in Roselle?
A. Less than most will think when you account for the time it takes you to operate a rental as a housing provider yourself in Roselle. For 7–8% of the monthly rent we can handle 100% of the entire process saving you 30–40 hours per year and take so much of the risk off of your shoulders.
Q. Do I have to hire a Property Manager for my Roselle rental or can I hire someone to just find me a qualified tenant and screen them properly?
A. Yes, real estate brokerage firms like GC Realty & Development, LLC offer “Tenant Placement” options only for their clients. For one month’s rent we can guide you through getting your place rent ready, handle all marketing, showing, screening, lease creation, and initial fund collection.
Every day homeowners / housing providers have questions about renting their property in Roselle. We create these articles to help owners find this information easily and all together in one place. Oftentimes owners don’t know what questions to ask or what they need to know. We would love to talk more about your plans to rent or how things are going with your current tenants so you can reach out to us anytime. Our goal is to provide value to housing providers like you through being a resource for all things when it comes to being an investor in Roselle.
Disclaimer — All info in the chart and attached spreadsheet is subject to change without knowledge of GC Realty & Development, LLC. All info is deemed accurate as of 12/2/22.