Chicago Property Management Blog

In the dynamic realm of Chicago real estate, staying compliant with regulations is paramount for landlords and tenants alike. Recent concerns raised by Chicago Association of Realtors (CAR) members highlight the importance of understanding and adhering to the Chicago Residential Landlord Tenant Ordinance (CRLTO) guidelines, particularly in the context of timely rental unit showings.Unlocking CRLTO Compliance: Decoding the 48-Hour Notice...

As a landlord in Chicago, it is essential to conduct routine inspections of your rental properties to ensure that they are being maintained by your tenants according to the terms of the lease agreement. These inspections can help you identify any issues with the property, assess any damage, and ensure that your tenants are complying with the terms of the lease.But what exactly can a Chicago landlord look at during an inspection? Here ar...

The Chicago Just Housing Amendment is a piece of legislation designed to address housing discrimination based on criminal records. Enacted on October 1, 2019, this amendment significantly impacts the tenant screening process for landlords and property managers in Chicago.Key provisions of the amendment include:Limitations on Criminal Background Checks:Landlords are restricted from considering arrests that did not result in a conviction ...

In a significant move towards fair housing practices, Illinois has passed a groundbreaking bill, HB 2775, which prohibits discrimination in housing based on an individual’s participation in the HUD Section 8 Housing Choice Voucher (HCV) Program. This legislation marks a crucial step in protecting individuals' "source of income" under the Illinois Human Rights Act, akin to protections based on race and religion.1. Sco...

As a self property manager, it's essential to stay informed about upcoming legislation that may impact tenants and property owners. One such legislation that is set to come into effect in January 2024 is the Tenant Radon Protection Act. This act aims to enhance the safety and well-being of tenants by addressing radon exposure in rental properties.Radon is a naturally occurring radioactive gas that can seep into buildings, posing pot...

As a landlord in Chicago, navigating the Chicago Human Rights Ordinance (CHRO) is pivotal for fostering an inclusive and compliant rental environment. This comprehensive guide is tailored specifically for landlords, offering insights and practical steps to ensure CHRO compliance while upholding housing equality.Understanding CHRO for Landlords:Insightful Overview:The CHRO serves as a vital framework to prevent housing discrimination. Ga...

While owning a home comes with many benefits, the most notable is the potential to rent the space out to tenants. Owning a rental unit can establish a steady stream of passive income. The average home in Illinois is worth just over $280,000, putting it on the lower end of the national average. Affordable real estate has made places like Chicago great areas to invest in rental properties. Yet, many owners are on the fence about using mu...

Today, we'll be discussing an interesting trend that has emerged in recent years—the decline in the premium associated with long-term furnished rentals. Join us as we explore the factors contributing to this shift and shed light on the evolving preferences of tenants in the city.Shifting Tenant Preferences: In the past, long-term furnished rentals often commanded a premium due to their convenience and flexibility. However, ten...

Chicago is one of the most sought-after U.S. cities, with a population of 2.6 million locals. Each person needs a space to call home and a base to explore an area named one of the best places to live nationwide.Experts predict that the number of residents will grow in the upcoming years. People move here to utilize the job opportunities, cuisine, education, and Lake Chicago.If you're a landlord with MLS listings, you must be over th...

As a Chicago landlord, you need to be aware of common seasonal issues that can impact your rental properties. Preparing for potential problems and addressing them promptly is key to keeping tenants happy and avoiding costly damage. Here are some seasonal issues for landlords to monitor:Winter:•Heating problems: Ensure furnaces and boilers are serviced annually before winter hits. Have an emergency HVAC contractor on call for any he...