I have a legal question pertaining to some rental property that my husband and I just purchased. Before we purchased it, there was no mention verbally or on the disclosure about major street work to be done surrounding this 4 unit apartment complex that we purchased. Our tenants have been parking along the side of the street and now they are told they are not permitted to do this any longer, due to a YEAR long construction project now taking place. The public works director, who I just spoke with, said that there will be "no parking" signs put up, now and after the project is completed. There is no place for our tenants to park. Nothing was mentioned in the disclosure by the (sellers), previous owners, of the property, about this 1 year project that will have a huge affect on our tenants convenience, as the whole apt. building will be surrounded by broken up and blocked off streets, literally no where to hardly even walk. When we purchased this property two weeks ago all we saw was 1 parked bull dozer behind the apt. building, in which we thought the city was going to do something behind the complex. We had no idea until a couple of days ago when we went to check out the property we saw they were tearing everything up all around and even up to the side of our building!! I called the public works director and he knew the previous owners to this apt. building by name, and he did not realize that the property had already been sold. This made me realize that the previos owners KNEW about this extensive street project, but lied on the disclosure saying on the disclosure that they were not aware of any changes around the property which would hurt the value,etc. It is apparent that they DID know, because the public works director knew them by name without me even mentioning their names to him. We have a tenant that has already given us his notice to move out. Now we are going to have try and rent this apt. to someone that won't mind having machinery and no place to park and a total mess. This has really hurt our investment. We are going to consult an atty., however, anybody out there that has had a similar experience, any advice ? Thank you !

While I have a 4-unit APT building myself, I have not had your experience. But if I were in your shoes, I'd be consulting an attorney.

The things that come to mind is fraud & lack of total disclosure. If there was a lot for the tenants cars to be parked on, access would have to be provided. But since it is side street parking, this really puts you in a bind. And then to not permit parking after construction is completed??? You might also be having a discussion with some more city officials. Start with your Alderman where your apartments are located.



I wish I could be more encouraging here. I really do. But I see things could very well be getting nasty for you in the near future