Chicago Property Management Blog

Every landlord knows the drill. You find a qualified tenant, they pass screening, you're ready to sign, and then they hit you with it: "We need a first-of-the-month move-in."It sounds reasonable. Leases traditionally start on the 1st. It's cleaner for accounting. The tenant's current lease probably ends on the last day of the month. Everyone does it this way, right?Here's the problem: that accommodation is cost...

Chicago winters don’t just bring snow and sub-zero wind chills. They bring the problems landlords and property managers wish they never had to deal with: frozen pipes, no-heat emergencies, vacant-unit risks, and the reality that squatters don’t care what your plans were for that building. In this Chicago Landlord Secrets livestream, Mark Ainley (GC Realty & Development) and Tim Harstead (Chicago Style Management) get re...

How long does it really take to rent pet-friendly vs. no-pet units? We analyzed 391 leases across Chicagoland to find out.Many Chicago landlords struggle with whether or not to allow pets in their rentals. One of the most common questions we hear from property owners is, "Will allowing pets help me rent faster or just create more headaches?"If you know me, follow my content, or listen to the Straight Up Chicago Investor Podcas...

At GC Realty & Development, LLC, we’ve seen landlords run into avoidable headaches that the right knowledge and processes could have prevented. Owning rental property can be incredibly rewarding, but it also comes with its share of legal pitfalls. One misstep in leases, inspections, or evictions can cost you time, money, and stress. Ignorance is not a defence. We want to educate Chicagoland landlords on how to protect themselv...

Here's something you almost never see in Chicago real estate: raw, transparent leasing data from an actual property management company. Most managers or investment groups guard this information like a trade secret or something more risque than numbers. Some may have mispriced a few properties and are ashamed those errors “messed up” their numbers. But having this data can fundamentally change how you plan your investment...

Here's something interesting: I get crazy questions everyday from Chicago area investors but I don't get asked about late fees very often. But here's the thing, I see investors getting this wrong every single week. Landlords across the Chicago metro are making up their own late fee policies, slapping whatever number feels right into their leases, and they have no idea they're exposing themselves to serious legal and fina...

As a Chicago landlord, measuring the performance of your rental portfolio is essential to long-term success. Without a structured system for monitoring results, it becomes difficult to identify issues early, make informed financial decisions, or maximize your returns. Tracking the right key performance indicators helps property owners stay competitive in a fast-moving rental market while ensuring that every property continues to me...

Most Chicago landlords have no idea what the Chicago Housing Authority (CHA), more commonly known as Section 8, will actually pay them until it's too late. They accept an application, wait 30 days, go through inspection, then find out the numbers don't work. Having placed over 400 Section 8 tenants in properties we developed, plus what we see managing 1,400+ units at GC Realty & Development, I've learned exactly what you...

We spend a lot of time crunching numbers at GC Realty & Development, LLC. That’s because we want you to have the data you need to make informed choices about your Chicagoland investment property.To determine whether your rental is performing well, we closely monitor two important numbers:Days on Market (DOM), or how long it takes to lease a propertyApplications per listing, or how many qualified applicants does your listing at...

If you own rental property in DuPage County, Section 8 applicants are part of your tenant pool whether you planned for it or not. Illinois protects source of income, which means you can't turn someone away just because they have a housing voucher. The good news? Figuring out what the housing authority will actually pay you is far more straightforward than dealing with the Chicago Housing Authority. The bad news? Most landlords still...