Chicago Property Management Blog

Acquiring a property occupied by Section 8 tenants in Chicago or its suburbs, such as Country Club Hills, Hanover Park, South Holland, or Flossmoor, can present an excellent opportunity to grow your real estate portfolio. However, it's crucial to familiarize yourself with the full process before finalizing the purchase.In this article, and the accompanying video, I will outline the steps involved in transferring the tenant's Sec...

I often speak with investors who hesitate to change their Property Management firm when they have a Section 8 tenant. They're unsure about the process to follow or are worried about losing money in the transition. I typically have these conversations when they've reached the point of knowing it's time to part ways with their current Property Manager, but the fear of the unknown holds them back.Let me address this concern dir...

THE NO 1 REASON PROPERTY MANAGERS GET FIREDAs a business owner, I have learned over the years that I need to rely on data to make decisions. I learned early on that I couldn’t just rely on my gut instincts, especially if I wanted to grow my company. In January of 2020, I wrote a blog that was posted to Bigger Pockets. The post contained information that I had acquired over an eighteen month period while talking to over 300 in...

Before the days of YouTube, BiggerPockets, and even E-books, I had to gain all of my real estate knowledge through my own trials and tribulations. In the end, it cost me a lot of money for my “street education”. As an avid reader, I love gathering information from various sources including books, podcasts, and forums. All of the information I have acquired has been fantastic, but it has lacked a local focus, and when I ...

On our most recent show, we discussed what Landlords need to know about in regard to their mortgage moan on their investment properties. There are different facets of the CARES Act that must  be followed and you must stay in compliance. Right now, there are many loan options available that you may be able to take advantage of with your loan provider. Topics Discussed IncludeRestrictions under the CARES Act for owners with Fann...

In 2018, I read an article online written by a Realtor in which she described how her business was taken to the next level after reading the book, Ninja Selling by Larry Kendall. She discussed how reading the book had gained her new clientele in just under a few months. Less than a month later, I stumbled upon a Podcast that described a similar success story, the author having read this same book as well. I brushed off these two si...

Earlier this year, I had the opportunity to sit down with Andrew Chen, owner of Hackyourwealth.comAndrew is well known for his wealth building hacks and has been involved in some pretty interesting careers, some in which he had no prior training in at all. His content has been published on Forbes, CNBC, Business Insider, and Glassdoor. https://hackyourwealth.com/managing-rental-properties-property-management-tipshttps://podcasts.ap...

Many people have questions about Section 8 and the ins and outs of the Housing Choice Voucher Program (HCV).  The unfortunate part is many of the ins and outs differ slightly from state to state, county to county, and then even city to city.  The differences between Section 8 housing programs are not large, but it is important you pair yourself up with a Property Manager or fellow investor to make sure you avoid the pitfalls o...

Hi, my name is Mark Ainley from GC Realty and Development. We're a local property manager out of Roselle, Illinois, just outside of Chicago. What to know in advanceThere's some things that you want to make sure that you know in advance, to make sure that you're not delayed in getting your property rented. So Hanover Park, like most other villages around here, do have an annual rental license fee. The number is now an op...

Hi, my name is Mark Ainley GC Realty and Development. And when I talked about today is renting your property out in Schaumburg, Illinois. We're located not too far from there in the town over Roselle, but we've been managing in Schaumburg for about 15 to 16 years now, so we've gone through the start of the rental license program to what it looks like today. So any property in town that is leased out is required of a ren...