Northwestern Law Class of 2013 Forum

[NayBoer]

Do apartments in Chicago not charge deposits? Websites don't mention it much and craigslist ads mostly mention it when they're zero. Is it customary for them to spring the deposit on you as a surprise, or are they just not charging deposits right now?

Not to be a creep, but what hotels are people staying at for the ASW? Did anyone get a good NU rate or just book online?

I called half the hotels that were listed as offering NU rates. Several of them had no idea what I was talking about, and I'm pretty sure the other one was just quoting me the regular rate (he was vague about the rate and I didn't push). So I think it's all regular rate. Also, one of the phone numbers goes to the wrong hotel.

[D-hops]

Do apartments in Chicago not charge deposits? Websites don't mention it much and craigslist ads mostly mention it when they're zero. Is it customary for them to spring the deposit on you as a surprise, or are they just not charging deposits right now?

I think it depends on what you are looking at. A lot of high rises charge a non-refundable move-in fee and then don't have a security deposit. But if you are leasing from a individual or looking at 3-flats or walk-ups a lot of the owners will charge a deposit.

[NayBoer]

Do apartments in Chicago not charge deposits? Websites don't mention it much and craigslist ads mostly mention it when they're zero. Is it customary for them to spring the deposit on you as a surprise, or are they just not charging deposits right now?

I think it depends on what you are looking at. A lot of high rises charge a non-refundable move-in fee and then don't have a security deposit. But if you are leasing from a individual or looking at 3-flats or walk-ups a lot of the owners will charge a deposit.

Thanks!

Also, my girlfriend found a law that requires landlords to go through a lot of hoops to get a deposit, and also requires them to pay back interest on the deposit after a year. So it sounds like a hassle. Might explain why they don't do it.

Guess I'll watch out for move-in fees. Hopefully they'll have a move-in special at McClurg or Streeter Place or wherever.

[fl0w]

Do apartments in Chicago not charge deposits? Websites don't mention it much and craigslist ads mostly mention it when they're zero. Is it customary for them to spring the deposit on you as a surprise, or are they just not charging deposits right now?

I think it depends on what you are looking at. A lot of high rises charge a non-refundable move-in fee and then don't have a security deposit. But if you are leasing from a individual or looking at 3-flats or walk-ups a lot of the owners will charge a deposit.

Thanks!

Also, my girlfriend found a law that requires landlords to go through a lot of hoops to get a deposit, and also requires them to pay back interest on the deposit after a year. So it sounds like a hassle. Might explain why they don't do it.

Guess I'll watch out for move-in fees. Hopefully they'll have a move-in special at McClurg or Streeter Place or wherever.

While a lot of apartments do not do a "deposit" they will often want you to pay the first couple months of rent or something.

[Drew2010]

Do apartments in Chicago not charge deposits? Websites don't mention it much and craigslist ads mostly mention it when they're zero. Is it customary for them to spring the deposit on you as a surprise, or are they just not charging deposits right now?

I think it depends on what you are looking at. A lot of high rises charge a non-refundable move-in fee and then don't have a security deposit. But if you are leasing from a individual or looking at 3-flats or walk-ups a lot of the owners will charge a deposit.

Thanks!

Also, my girlfriend found a law that requires landlords to go through a lot of hoops to get a deposit, and also requires them to pay back interest on the deposit after a year. So it sounds like a hassle. Might explain why they don't do it.

Guess I'll watch out for move-in fees. Hopefully they'll have a move-in special at McClurg or Streeter Place or wherever.

Actually just signed a lease at Streeter Place.. no move in fee or security deposit, just had a 1/2 off pet deposit. I think the app fee was $60, something like that. To qualify without a cosigner you need to show an income of 2.5 X the yearly rent.

Edited to make more clear.

[Drew2010]

In Chicago right now and staying at the inn of Chicago. Location is amazing and everything else is more than I expected for the cost. It's got my recommendation so far.

I was also in Chicago the past couple of days and stayed at the Affinia hotel. I got a good price through travelocity buying along with my flight, but I'm not sure how much it was per night. Was a good location, on the same street as the law school. Probably about a 1-2 min walk from the school. As far as the room it was fairly nice, I would recommend it if you can get a decent deal there.

[Holly Golightly]

Do apartments in Chicago not charge deposits? Websites don't mention it much and craigslist ads mostly mention it when they're zero. Is it customary for them to spring the deposit on you as a surprise, or are they just not charging deposits right now?

I think it depends on what you are looking at. A lot of high rises charge a non-refundable move-in fee and then don't have a security deposit. But if you are leasing from a individual or looking at 3-flats or walk-ups a lot of the owners will charge a deposit.

Thanks!

Also, my girlfriend found a law that requires landlords to go through a lot of hoops to get a deposit, and also requires them to pay back interest on the deposit after a year. So it sounds like a hassle. Might explain why they don't do it.

Guess I'll watch out for move-in fees. Hopefully they'll have a move-in special at McClurg or Streeter Place or wherever.

Actually just signed a lease at Streeter Place.. no move in fee or security deposit, just had a 1/2 off pet deposit. I think the app fee was $60, something like that. To qualify without a cosigner you need 2.5 X the yearly rent.

Wait...what?!

[Drew2010]

Wait...what?!

I decided on AJD, so I wanted to get up there before the online classes start so me and my wife have plenty of time to settle and job search and stuff before I have to get to work. We're moving up on April 1st.

[09042014]

Do apartments in Chicago not charge deposits? Websites don't mention it much and craigslist ads mostly mention it when they're zero. Is it customary for them to spring the deposit on you as a surprise, or are they just not charging deposits right now?

I think it depends on what you are looking at. A lot of high rises charge a non-refundable move-in fee and then don't have a security deposit. But if you are leasing from a individual or looking at 3-flats or walk-ups a lot of the owners will charge a deposit.

Thanks!

Also, my girlfriend found a law that requires landlords to go through a lot of hoops to get a deposit, and also requires them to pay back interest on the deposit after a year. So it sounds like a hassle. Might explain why they don't do it.

Guess I'll watch out for move-in fees. Hopefully they'll have a move-in special at McClurg or Streeter Place or wherever.

So you settled on streeterville?

[Holly Golightly]

Wait...what?!

I decided on AJD, so I wanted to get up there before the online classes start so me and my wife have plenty of time to settle and job search and stuff before I have to get to work. We're moving up on April 1st.

Sorry, I should have clarified. The "Wait...what?!" was re: needing to provide 2.5x yearly rent without a co-signer.

[09042014]

Wait...what?!

I decided on AJD, so I wanted to get up there before the online classes start so me and my wife have plenty of time to settle and job search and stuff before I have to get to work. We're moving up on April 1st.

Sorry, I should have clarified. The "Wait...what?!" was re: needing to provide 2.5x yearly rent without a co-signer.

I'm guessing he means monthly instead of yearly.

[Drew2010]

Wait...what?!

I decided on AJD, so I wanted to get up there before the online classes start so me and my wife have plenty of time to settle and job search and stuff before I have to get to work. We're moving up on April 1st.

Sorry, I should have clarified. The "Wait...what?!" was re: needing to provide 2.5x yearly rent without a co-signer.

I'm guessing he means monthly instead of yearly.

Nope.. yearly.. so rent X 12 X 2.5 is what they want you to make per year, or receive through financial aid to get approved without a cosigner. They also said they would accept savings or funds up to that amount, but I don't see that being very relevant, it sure wasn't for me. Maybe different buildings in the area do things differently?

Edit: I fixed the original so it was clearer. I just trying to say they want to see an income of 2.5 X the yearly rent.

[D-hops]

Nope.. yearly.. so rent X 12 X 2.5 is what they want you to make per year, or receive through financial aid to get approved with a cosigner. They also said they would accept savings or funds up to that amount, but I don't see that being very relevant, it sure wasn't for me. Maybe different buildings in the area do things differently?

Edit: I fixed the original so it was clearer. I just trying to say they want to see an income of 2.5 X the yearly rent.

Yeah, that is similar to what I have at my current place. I needed to show that the rent I would be paying is no more than 40% of my gross income for the year. Otherwise I was going to need a co-signer.

[09042014]

What is the cheapest anyone has found rent around the area. The COL loans look like they won't even cover 12 months rent.

[D-hops]

What is the cheapest anyone has found rent around the area. The COL loans look like they won't even cover 12 months rent.

I think they'll cover rent....if you don't want to eat anything for the year.

[09042014]

What is the cheapest anyone has found rent around the area. The COL loans look like they won't even cover 12 months rent.

I think they'll cover rent....if you don't want to eat anything for the year.

Holly was telling me about a tea and whiskey diet. I should try it.

[NancyBotwin]

What is the cheapest anyone has found rent around the area. The COL loans look like they won't even cover 12 months rent.

Ohai, just popping in real quick... it's not meant to cover 12 months, only 9. hth.

[09042014]

What is the cheapest anyone has found rent around the area. The COL loans look like they won't even cover 12 months rent.

Ohai, just popping in real quick... it's not meant to cover 12 months, only 9. hth.

Anyone know if NU give summer grants?

[AddyO]

Nope.. yearly.. so rent X 12 X 2.5 is what they want you to make per year, or receive through financial aid to get approved without a cosigner. They also said they would accept savings or funds up to that amount, but I don't see that being very relevant, it sure wasn't for me. Maybe different buildings in the area do things differently?

Edit: I fixed the original so it was clearer. I just trying to say they want to see an income of 2.5 X the yearly rent.

So I don't have a job and I know that most people do, but I don't want to use a co-signer. Did you mean if you have the savings you still need a co-signer or if you can cover the rent x12 x2.5 through savings alone and financial aid you can sign for yourself? I should be able to get an apartment if I can technically pay for it in cash right?

[fl0w]

Nope.. yearly.. so rent X 12 X 2.5 is what they want you to make per year, or receive through financial aid to get approved without a cosigner. They also said they would accept savings or funds up to that amount, but I don't see that being very relevant, it sure wasn't for me. Maybe different buildings in the area do things differently?

Edit: I fixed the original so it was clearer. I just trying to say they want to see an income of 2.5 X the yearly rent.

So I don't have a job and I know that most people do, but I don't want to use a co-signer. Did you mean if you have the savings you still need a co-signer or if you can cover the rent x12 x2.5 through savings alone and financial aid you can sign for yourself? I should be able to get an apartment if I can technically pay for it in cash right?

if you can show that your loans will cover it, you are fine.

[Drew2010]

Nope.. yearly.. so rent X 12 X 2.5 is what they want you to make per year, or receive through financial aid to get approved without a cosigner. They also said they would accept savings or funds up to that amount, but I don't see that being very relevant, it sure wasn't for me. Maybe different buildings in the area do things differently?

Edit: I fixed the original so it was clearer. I just trying to say they want to see an income of 2.5 X the yearly rent.

So I don't have a job and I know that most people do, but I don't want to use a co-signer. Did you mean if you have the savings you still need a co-signer or if you can cover the rent x12 x2.5 through savings alone and financial aid you can sign for yourself? I should be able to get an apartment if I can technically pay for it in cash right?

Ya.. if you can satisfy the rent X 12 x 2.5 then no need for a cosigner.. sorry, I originally had a typo where I said with a cosigner, but I meant without. With a cosigner you don't actually have to make or show anything.

[D-hops]

What is the cheapest anyone has found rent around the area. The COL loans look like they won't even cover 12 months rent.

I think they'll cover rent....if you don't want to eat anything for the year.

Holly was telling me about a tea and whiskey diet. I should try it.

I like this. It's like a detox with booze.

[NayBoer]

I'm assuming that some loan documentation will be sufficient to get approved, since 1Ls aren't allowed to work.

So you settled on streeterville?

Yeah, pretty solidly. Not entirely opposed to River North, Gold Coast or New Eastside, but I'd really like it to be less 20 minutes' walk. Looking most closely at McClurg, but I'll do Streeter Place or somewhere else if the move-in fees, parking, etc. don't add up.

The problem is Streeter Place you pay for all sorts of awesome community amenities that I don't really need. I'd rather have a 1BR or convertible in McClurg. Living in a one-room studio would probably drive me crazy faster than going without access to a community pool, gym club, and business center. The Streeter Place convertibles are crazy.

Actually just signed a lease at Streeter Place.. no move in fee or security deposit, just had a 1/2 off pet deposit. I think the app fee was $60, something like that. To qualify without a cosigner you need to show an income of 2.5 X the yearly rent.

How far from Chicago is your current job? Was it plausible that you'd keep working the job? Because my job is 2,100 miles from Chicago, so if they ask me even a few questions it will be obvious that my income records and W-2s are irrelevant for my future income.

[09042014]

I'm trying to find something cheap, but I've realized that isn't happening without moving far away from school.

Supposedly that NU owned building across the street is kinda cheap, but I heard it sucks. I'm considering taking a tour or something to see how bad it sucks and how cheap I can get it.

[Drew2010]

Actually just signed a lease at Streeter Place.. no move in fee or security deposit, just had a 1/2 off pet deposit. I think the app fee was $60, something like that. To qualify without a cosigner you need to show an income of 2.5 X the yearly rent.

How far from Chicago is your current job? Was it plausible that you'd keep working the job? Because my job is 2,100 miles from Chicago, so if they ask me even a few questions it will be obvious that my income records and W-2s are irrelevant for my future income.

Both my job and my wife's are both around 1500 miles away. We went the cosigner route because of that. I'll be getting a living stipend from the GI Bill which makes inability to pay our rent extremely unlikely, thus providing our cosigner with enough confidence that they wouldn't get screwed over by helping us out. We had some money saved up, plus we're selling both our cars, and we're using that money to live off while we search for my wife a job. To live comfortably we need to find her something making about $10/hour full time.. however we're hoping that is the worst case scenario. She is almost finished with an MPA degree, so we're really hoping we can find a non-profit admin job somewhere.