Chicago Property Management Blog

A Chicago Property Management Company's Guide to Reducing Vacancy Costs for Landlords

By Jason Marcordes Friday, December 20, 2024

Hello, Chicago landlords! You probably know that empty units in your investment property can really drain your wallet. Vacancy costs not only encompass the lost rental income but also include additional marketing expenses, maintenance costs during the vacancy, and the opportunity...

Can a Renter Change the Locks? Guidelines for Landlords of Chicago Rental Properties

By Jason Marcordes Monday, December 9, 2024

As a landlord in Chicago or the Chicago suburbs, understanding your tenants' legal rights regarding changing locks in rental units is crucial for maintaining property security and ensuring compliance with local housing regulations as well as state and local laws. This guide a...

Limited Inventory? No Problem! Converting Vacant Commercial Space into Chicago Residential Rentals

By Jason Marcordes Monday, November 18, 2024

As Chicago’s residential real estate market tightens and inventory becomes more limited, investors are searching for creative ways to diversify their portfolios and capitalize on underutilized properties. One increasingly popular option is converting vacant commercial ...

The Unexpected Obstacles of Buying Property Sight Unseen: How to Avoid Costly Mistakes in the Chicag...

By Jason Marcordes Thursday, November 14, 2024

Are you interested in purchasing investment property out of state or just find it more convenient to find and buy a property without all of the hassle? Or maybe you are looking to make a quick offer on a property in hopes to land it before someone else sees it and makes a b...

Navigating Tenant Turnovers: Minimizing Costs and Vacancy Periods

By Jason Marcordes Monday, November 4, 2024

What is the number one killer of cash-flow in real estate investments? Assuming you got the tenant screening right - tenant turnover is going to have the biggest impact on your bottom line. It always surprises me that most people don’t know this, nor do they seem to u...

A Significant Change for Rental Property Owners: How Chicago's New Anti-Gentrification Ordinance Wil...

By Jason Marcordes Friday, October 25, 2024

What is the Northwest Side Housing Preservation Ordinance in Chicago?The Northwest Side Housing Preservation Ordinance, effective October 9, 2024, aims to preserve and even expand areas of affordable housing and limit gentrification in areas surrounding the 606 Trail. It expands ...

The Biggest Legal Mistakes Chicago Property Owners Make Without Professional Property Management

By Jason Marcordes Tuesday, October 22, 2024

Owning rental property in Chicago and its suburbs can be a rewarding investment with great returns, but it also comes with legal responsibilities that can quickly become overwhelming. Without professional property management or taking the time to learn the many legal aspects...

Top Day-to-Day Tenant Complaints and How Property Managers Resolve Them: A Landlord’s Guide

By Jason Marcordes Friday, October 18, 2024

Managing rental properties comes with its share of day-to-day complaints from tenants. After being in the industry so long, we’ve heard a lot of requests and complaints from tenants. There are some of these that we get much more frequently than others and are important for ...

How to Strategically Budget for Property Management Services: For Your Chicago Rental

By Jason Marcordes Tuesday, October 15, 2024

At the end of the day, your goal as a real estate investor is to make money! Right?!? Over the years I’ve talked to many investors that end up not making what they intend, nothing at all, or even losing money on their properties. Before you jump into a relationship with a p...

Hidden Costs in Property Management Contracts What to Watch For

By Jason Marcordes Monday, September 30, 2024

There really is no standard for what’s charged for or what could be charged for when it comes to property management fees. And while I’m a true believer in you get what you pay for, I also want to know what I’m paying for on the front end. We’ve reviewed m...