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How churned-and-burned leasing agents can cut their losses

IRS logo

Last year 100s of people signed on with one of Chicago’s rental services to begin what they were led to believe might be a lucrative career in real estate. A few of them earned a decent buck during the prime rental season, but most didn’t, and the great majority of them left the business within ...

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Posted by Joe Zekas on February 6, 2014

Chicago is leading net exporter of people to New York

High Line sign

According to a recent piece by Aaron Renn at City Journal, the New York area lost nearly 2 million net domestic migrants in the 2000s. Chicago didn’t rank among the top 10 destination metros for net migration by New Yorkers. Atlanta, Allentown and Charlotte did. Although New York attracts far fewer domestic migrants than it ...

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Posted by Joe Zekas on September 10, 2013

Rat out a Chicago rental service to the IRS and make big bucks

Craigslist recruiting screen cap

It’s common for Chicago rental services to report their leasing agents as independent contractors for tax purposes, but control their day-to-day activities to the extent that they should have been classified as employees. The rental service recruiting ad, above, only hints at the high degree of control that rental services often exercise over how leasing ...

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Posted by Joe Zekas on February 15, 2013
ChicagoSouth Side

Is mortgage fraud still afoot in Englewood?

Englewood streetscape

Back in early August the Feds announced (PDF) the indictment of fourteen individuals charged with engaging in mortgage fraud in the Englewood neighborhood. The charges were part of Operation Madhouse, an undercover investigation conducted by the FBI, Housing and Urban Development’s Office of Inspector General and the IRS Criminal Investigation Division. If you look at ...

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Posted by Joe Zekas on October 10, 2011