Chicago Property Management Blog

You've saved and looked and now you own a great rental property to strengthen your financial portfolio. The house is clean, the appliances are in, and you're ready to start on the landscape. Before you spend thousands of dollars on a brand-new landscape, remember that landscaping for a rental property isn't the same as for your own home. Your tenants aren't the gardeners. It's okay to expect them to mow the lawn...

If you're managing your own investment or looking for a property manager, keep in mind that maintenance problems will arise at some point. How you handle those issues can have a large impact on your bottom line. Proactive maintenance is crucial to keeping your tenants happy, so repairing problems quickly is the best way to go. Choosing the right property manager can help ensure that repairs are handled seamlessly.Making Maintenance ...

One of the first questions clients ask is, “How much should I rent my Chicagoland property for?” It’s a great question! There are many factors that go into determining the rental market value of your home.Comparable Market AnalysisFirst, we look at the comparable rents in the area. We want to know what other properties similar to yours are renting for. We look at the amenities they have, and whether there are any upgra...

If you are reading this, chances are you are "one in four landlords who've lost rental income because of the pandemic." We get that you have backed up mortgage payments and property taxes. But rushing the eviction process in Illinois can lead to you being sued.By the way, a Chicago tenant now has five years to sue you over an illegal eviction. So, why risk having to pay a tenant that hasn't been paying you? E...

We’re often asked how we screen applicants, so I wanted to share how we approach it. First, we screen all applicants over the age of 18. The first thing we do is invite applicants to complete an online application form. This is where the applicant enters all of their information for us to review.Next, we run a full credit, criminal, eviction, and background check. Sometimes we do find red flags on these reports and we are able to ...

Tenants come and go. As a property owner, nothing can put more money in your pocket than renting your home quickly and to the right person. Here are some tips that will help you do just that.Pro-tips to rent your property quickerTake a look at the condition of your property. You want fresh paint, clean surfaces, well-manicured landscaping, and attention to detail both inside and outside of your property. Make sure the property...

Many people ask that question “What do I have to do to my place to get it rented?”First and foremost, appeal to the masses by choosing neutral colors and tones. Highlight walls may look good with a particular style of furniture when you live in your home, but now that you're trying to rent it out and make a profit, accent walls are no longer as appealing. We always say “GO NEUTRAL!”You have to under...

The Chicago real estate market is experiencing unprecedented change at the moment. Like in most metropolitan areas across the US, rents and house prices are on the rise. If you're lucky enough to be in a position to do so, now is a perfect time to become a real estate investor.But there are many different types of real estate investments a person can make. So which type of investment property fits the best with your c...

Today we’re going to discuss the various fees associated with property management and the cost of hiring a professional property manager, which is often lower than the cost of managing a property yourself.Management FeeThe management fee is something that’s charged every month. Some managers will charge you a flat fee per unit and others will charge a percentage of the rent that’s collected. Sometimes, there will be a ...

Working with a Chicago Housing Authority (CHA) for a Section 8 tenant can be a very lucrative strategy for your investment portfolio. As a first-time landlord with HUD Housing Choice Vouchers, you are going to need to learn more about the process. There are many positives and negatives to setting up your portfolio with this type of income, and we'll discuss some of them in this article.If you are managing the property yourself,...