Frequently Asked Questions

  • How many units does GCR&D manage?

    As of January 1, 2016 we currently manage 477 residential units which are comprised of condos, townhomes, single family homes, and multi-unit apartment buildings. We also manage 2.6 million square feet of Commercial Retail/Office/Industrial space.
  • How long does the management agreement term last?

    Our management agreement is a 1 year term but can be canceled with 30 day notice for any reason. We often joke that you are only stuck with us for no longer than 30 days at a time.
  • How long will it take to lease out my property?

    If we price the rental rate to be in tune with what is going on in the local market and the property shows well we can generally rent your home in 3-4 weeks.
  • How long have been in business?

    We incorporated our firm in 2003 as an S-Corp and restructured it in 2006 as an LLC. We started our Property Management division in 2005.
  • Should I allow pets?

    We ask that you keep all options open. We don’t have to select a tenant with bad credit and a 200 pound dog or an applicant with 9 cats but we want to keep our options open for a quality tenant that has a medium sized dog. A person’s application will reflect how they will care for your property including how they will allow the keep of an animal in your home.
  • How can I protect my rental from pets?

    We will accept animals of well qualified applicants. These applicants will show us pictures of their pet and they provide us information such as breed, weight, & age. This helps rule out the 40 pound mix that turns out to be a 150 pound Pitbull. An approved tenant with a pet will pay either additional security deposit or a non-refundable pet fee. A home with hardwood, tile, or wood laminate is more pet friendly from a landlord’s perspective then a home with carpet throughout.
  • Does GCR&D manage Condominium Associations?

    Unfortunately, we no longer accept or manage any Condominium Associations.
  • Does GCR&D hold the security deposit?

    GCR&D will hold the rental security deposit in the owners separate rental deposit account. Any return or forfeiture of a security deposit will be approved by the owner prior to any final decisions. The balance of your account on the monthly ledgers will reflect the security deposit being held.
  • Will I get to approve the tenants that will be living in my rental?

    You will always get to approve the tenant moving into your rental. We will not waste your time with less than desirable applications and we will bring you the details of the quality perspective tenants. You will give the final approval on choices we bring you that we think are best for you.
  • Do you have our own maintenance staff or do you hire contractors?

    We have a maintenance staff that is led by our maintenance coordinator. They are able to complete about 85% of all work orders that may arise. The other 15% may be contracted out to third party vendors that we work closely with. Using these third party vendors still allows us the ability to control costs. The discounts we receive with these third party vendors are passed on to the unit owners.
  • Is GCR&D properly insured?

    GCR&D carries a business liability, workers compensation, umbrella, auto, and professional liability (E&O) policies all with at least million dollar limits.

For more information about Chicagoland Property Management, please visit our educational blog page.

Why Work with GC Realty & Development, LLC