Chicago Property Management Blog

How Much Should I Budget for Repairs for My Rental Property?

By Jason Marcordes Thursday, October 29, 2020

Budgeting for your rental property is crucial to a successful investment. Repairs can sometimes be unpredictable, so it is important to allocate enough funds to handle any unforeseen costs on top of regular maintenance. Below, we’ve outlined some of the most commonly used s...

How to Winterize Your Rental Property

By Jason Marcordes Wednesday, October 21, 2020

Winters in Chicago can be long and formidable. Whether it’s the frigid winds or the regular mid-winter snowfalls, ensuring that your Chicago rental property is adequately winterized for your tenants is crucial. Not only is providing your renters with enough heat the right t...

The Top 5 Design Trends to Avoid when Renovating your Rental Property

By Jason Marcordes Thursday, October 15, 2020

Regular maintenance of rental properties is an expected element of property investment, especially between tenants. However, if your rental property is showing its age or seems lackluster in the context of the Chicago neighborhood where it resides, you might be considering renova...

How to Set the Right Price for Your Chicago Rental Property

By Jason Marcordes Monday, October 12, 2020

When analyzing a real estate investment, there are many financial variables to take into account in order to be successful. One of the most important questions to answer regarding any rental property is what the appropriate rent amount is.Charging too much for rent in a particula...

5 Ways to Guarantee that your First Chicago Investment Property is a Success

By Jason Marcordes Thursday, October 8, 2020

Purchasing your first rental property can be a lucrative endeavor, but it’s not without financial risks. Knowing what to expect, how to approach acquiring a new property, and which properties will be worth your investment, is key to succeeding with your first Chicago rental...

What Can I Charge to my Tenant’s Security Deposit?

By Jason Marcordes Monday, September 14, 2020

If a tenant did not pay rent or you incurred significant damages to your property during their lease, you might need to withhold a portion, or all, of a tenant’s security deposit to cover your losses. As a landlord, it is important to understand what you are legally allowed...

Can I Sell My Rental Property While Tenants Occupy It?

By Jason Marcordes Monday, August 31, 2020

When you’ve decided it is time to sell your rental property, you have two general options: wait for the tenant’s lease to end and they move out to sell to an end-user, or sell your property to an investor while your tenants still occupy it. While selling your tenant-o...

Navigating the Eviction Process in Chicago During Covid 19

By Jason Marcordes Tuesday, July 21, 2020

Covid has unfortunately made it difficult for many tenants to pay rent. Under normal circumstances, after a missed payment, a landlord has the right to start the eviction process. However, with eviction courts closed and a new Covid-19 Eviction Protection Ordinance in Chicago, th...

Should I Own My Rental Property in an LLC?

By Jason Marcordes Tuesday, June 30, 2020

Owning your rental Property in an LLC can be a smart decision as a property owner. An LLC can help reduce your overall personal liability, but with anything, it’s important to understand the benefits and drawbacks for your investment purposes.What is an LLC?A limited liabil...

HOW TO PROPERLY SCREEN NEW TENANTS

By Jason Marcordes Wednesday, June 24, 2020

Any prospective tenant can seem great during the initial walk-through. So it’s important to screen every potential tenant thoroughly before allowing them to sign a lease. A seasoned landlord knows how frustrating it can be to work with a difficult tenant. Whether they ...