Chicago Property Management Blog

Chicago has faced a rise in foreclosures this year, and many face the looming shadow of the threat of foreclosure on their homes. In this guide, we aim to shine a light on another option open to those who need to sell fast.A short sale is where you sell your house for less than what you owe on the mortgage. In this article, we'll share five advantages of short selling your home.1. It Helps You Resolve Debt Worries With Your Mortgage...

Chicago's real estate market is dynamic, and maintaining your property is key to success. In this blog post, we'll explore essential property maintenance tips tailored to the unique needs of Chicago landlords and property managers. 1. Understanding Chicago's Climate Challenges:Chicago experiences a range of weather conditions throughout the year, from freezing winters to humid summers. To address these challenges:Winter: Ins...

In the dynamic realm of Chicago real estate, staying compliant with regulations is paramount for landlords and tenants alike. Recent concerns raised by Chicago Association of Realtors (CAR) members highlight the importance of understanding and adhering to the Chicago Residential Landlord Tenant Ordinance (CRLTO) guidelines, particularly in the context of timely rental unit showings.Unlocking CRLTO Compliance: Decoding the 48-Hour Notice...

As a landlord in Chicago, it is essential to conduct routine inspections of your rental properties to ensure that they are being maintained by your tenants according to the terms of the lease agreement. These inspections can help you identify any issues with the property, assess any damage, and ensure that your tenants are complying with the terms of the lease.But what exactly can a Chicago landlord look at during an inspection? Here ar...

JUST HOUSING AMENDMENT MATTERS?Navigating tenant screening in the Chicago market is complex and most Landlords or Property Managers are not even aware of this law that is set up to protect tenants. The Just Housing Amendment (JHA) has been in effect since 2020, but in 2025, it's clearer than ever that many landlords and property managers still don’t fully understand how to comply with it. I see it all the time, a well-meaning...

In a significant move towards fair housing practices, Illinois has passed a groundbreaking bill, HB 2775, which prohibits discrimination in housing based on an individual’s participation in the HUD Section 8 Housing Choice Voucher (HCV) Program. This legislation marks a crucial step in protecting individuals' "source of income" under the Illinois Human Rights Act, akin to protections based on race and religion.1. Sco...

As a self property manager, it's essential to stay informed about upcoming legislation that may impact tenants and property owners. One such legislation that is set to come into effect in January 2024 is the Tenant Radon Protection Act. This act aims to enhance the safety and well-being of tenants by addressing radon exposure in rental properties.Radon is a naturally occurring radioactive gas that can seep into buildings, posing pot...

As a landlord in Chicago, navigating the Chicago Human Rights Ordinance (CHRO) is pivotal for fostering an inclusive and compliant rental environment. This comprehensive guide is tailored specifically for landlords, offering insights and practical steps to ensure CHRO compliance while upholding housing equality.Understanding CHRO for Landlords:Insightful Overview:The CHRO serves as a vital framework to prevent housing discrimination. Ga...

While owning a home comes with many benefits, the most notable is the potential to rent the space out to tenants. Owning a rental unit can establish a steady stream of passive income. The average home in Illinois is worth just over $280,000, putting it on the lower end of the national average. Affordable real estate has made places like Chicago great areas to invest in rental properties. Yet, many owners are on the fence about using mu...

Today, we'll be discussing an interesting trend that has emerged in recent years—the decline in the premium associated with long-term furnished rentals. Join us as we explore the factors contributing to this shift and shed light on the evolving preferences of tenants in the city.Shifting Tenant Preferences: In the past, long-term furnished rentals often commanded a premium due to their convenience and flexibility. However, ten...