Let us do
the worrying
for you.
Multi Family
The partnership you need to ensure you’re realizing your investment’s maximum potential
Single
Unit
Our care and attention ensures your investment is protected – for single homes and condos
Management with your wallet in mind.
Managing rental properties can be a difficult terrain to navigate. One wrong decision can be the difference between spending money and making money. Successful management requires strategy, plentiful and diverse resources, comprehensive knowledge of codes and regulations, and strong conflict resolution skills.
Multi Family
Focused on maximizing your investment.
- Tenant relations
- Unit inspections
- Rule enforcement and fine collection
- Coordination of lease renewals
- Coordination of evictions with an attorney
- Neighbor relations
- Insurance maintenance and claims
- Collection of rent payments
- Monitoring past-due accounts and coordination of collections
- Creation of annual budgets
- Monthly and annual reporting
- Monthly transfer of rental income directly into owners’ accounts via ACH
- Bill payment
- Collaboration with an accountant for tax filing
- Collaboration with a collections firm for balance collections
- Plumbing issues
- Electrical issues
- HVAC issues
- Garage door maintenance
- Pest control
- Painting
- Tuck-pointing
- Gutter, drain, and downspout cleaning
- Window washing
- Landscaping
- Snow removal
- Turnover cleaning
- Carpet cleaning
- Hallway and common-area cleaning
- Graffiti removal
- Intercom and security system maintenance
- Elevator maintenance
- Waste and recycling removal
- + anything else that comes up…..we can handle it all!
Leasing and Advertising
- Taking high-quality photographs that highlight your property’s features
- On-site consultation to prepare your property for showings
- Researching comparable properties to determine a reasonable rental rate
- Listing your property on the MLS (Multiple Listing Service), Zillow, Trulia, HotPads, Craigslist, and many other sites.
Showing the Property
- Responding to inquiries and requests for showings
- Coordinating showings with current tenants (if applicable) and prospective applicants
- Managing keys and access to your property
Application Processing and Lease Creation
- Screening prospective tenants:
- Credit
- Background
- Income
- Residential history
- Negotiating the lease to obtain the most favorable terms for you
- Creating the lease and collecting the initial payments from the tenant
Single Unit
Focused on protecting your investment.
- Tenant relations
- Unit inspections
- Rule enforcement and fine collection
- Coordination of lease renewals
- Coordination of evictions with an attorney
- Insurance maintenance and claims
- Collection of rent payments
- Monitoring past-due accounts and coordination of collections
- Creation of annual budgets
- Monthly and annual reporting
- Monthly transfer of rental income directly into owners’ accounts via ACH
- Bill payment
- Collaboration with an accountant for tax filing
- Collaboration with a collections firm for balance collections
- Plumbing issues
- Electrical issues
- HVAC issues
- Pest control
- Painting
- Turnover cleaning
- Carpet cleaning
Pricing and Advertising
- Taking high-quality photographs that highlight your property’s features
- On-site consultation to prepare your property for showings
- Researching comparable properties to determine a reasonable rental rate
- Listing your property on the MLS (Multiple Listing Service), Zillow, Trulia, HotPads, Craigslist, and many other sites.
Showing the Property
- Responding to inquiries and requests for showings
- Coordinating showings with current tenants (if applicable) and prospective tenants
- Managing keys and access to your property
Application Processing and Lease Creation
- Screening prospective tenants:
- Credit
- Background
- Income
- Residential history
- Negotiating the lease to obtain the most favorable terms for you
- Creating the lease and collecting the initial payments from the tenant
Trusted by Building Professionals
Frequently Asked Questions
Depends on the type of property (condo, apt bldg, SFH, etc.).
A dedicated team of three people who will be your primary contacts) in addition to an accounting team and other support staff.
Monthly: an income/expense report that itemizes every payment received (income) and sent (expenses)
Annually: an income/expense report that includes category subtotals (rent received; utility expenses (per utility), plumbing repairs, HVAC repairs, etc.)
You’ll want to confer with your insurance agent to be sure that you have coverage for a tenant-occupied property. This is sometimes referred to as a “landlord policy” or something similar. We recommend that your liability coverage limit be at least $1,000,000 per occurrence, but that is ultimately your decision.
In the Chicago market, procuring a qualified tenant usually takes 15-45 days if rent is set competitively. It’s important to note that rental rates typically decrease from 5% to 20% during the off-season (roughly October through February), so we recommend and usually attempt to structure leases that start during the off-season to end during the peak season.
If the property is your primary residence and you’re receiving one or more property exemptions as the result of the property being your primary residence, you should lose those exemptions, so your taxes will almost surely increase. Otherwise, nothing, but your property taxes should be (confirm with your accountant) a deductible expense.
We post available properties on the MLS as well as numerous websites to ensure maximum exposure for every property that we lease. We review every applicant’s credit history, criminal background, and eviction history. We also verify every applicant’s income (usually by obtaining several recent pay statements or an employment offer letter) and attempt to obtain a positive reference from each applicant’s previous landlord.
A property owner can choose the criteria (in accordance with fair housing laws) used to evaluate prospective tenants, but we’ve already done this for you. We intentionally do not involve our clients in the tenant selection process so that we substantially reduce the potential for claims related to fair housing violations and to enable us to process applications as quickly as possible. It’s not uncommon for a tenant to move on to a different property if their application isn’t processed and a lease sent within one day (or even a few hours).
