Chicago Property Management Blog

We’re often asked how we screen applicants, so I wanted to share how we approach it. First, we screen all applicants over the age of 18. The first thing we do is invite applicants to complete an online application form. This is where the applicant enters all of their information for us to review.Next, we run a full credit, criminal, eviction, and background check. Sometimes we do find red flags on these reports and we are able to ...

Tenants come and go. As a property owner, nothing can put more money in your pocket than renting your home quickly and to the right person. Here are some tips that will help you do just that.Pro-tips to rent your property quickerTake a look at the condition of your property. You want fresh paint, clean surfaces, well-manicured landscaping, and attention to detail both inside and outside of your property. Make sure the property...

Many people ask that question “What do I have to do to my place to get it rented?”First and foremost, appeal to the masses by choosing neutral colors and tones. Highlight walls may look good with a particular style of furniture when you live in your home, but now that you're trying to rent it out and make a profit, accent walls are no longer as appealing. We always say “GO NEUTRAL!”You have to under...

The Chicago real estate market is experiencing unprecedented change at the moment. Like in most metropolitan areas across the US, rents and house prices are on the rise. If you're lucky enough to be in a position to do so, now is a perfect time to become a real estate investor.But there are many different types of real estate investments a person can make. So which type of investment property fits the best with your c...

Today we’re going to discuss the various fees associated with property management and the cost of hiring a professional property manager, which is often lower than the cost of managing a property yourself.Management FeeThe management fee is something that’s charged every month. Some managers will charge you a flat fee per unit and others will charge a percentage of the rent that’s collected. Sometimes, there will be a ...

Working with a Chicago Housing Authority (CHA) for a Section 8 tenant can be a very lucrative strategy for your investment portfolio. As a first-time landlord with HUD Housing Choice Vouchers, you are going to need to learn more about the process. There are many positives and negatives to setting up your portfolio with this type of income, and we'll discuss some of them in this article.If you are managing the property yourself,...

For five years, I've been sharing valuable tips to both newbie and seasoned investors to keep them safe from common mistakes. I take pride in educating local and out-of-state investors about Chicago's laws, as well as Chicago's suburbs. I tell them how things work here, and what to expect. All of this information stems from my experience as an investor, specializing in the BRRRR strategy, and as an owner of a Property Manage...

70% of households have at least one pet living on the property, but that doesn't mean you want pets in a rental property you manage. Before you outlaw tenants with pets, you must understand the pros and cons of allowing pets in a rental property.We've created a list that will help you get closer to deciding whether tenants with pets are something you can deal with.Pro: Ability to Charge Higher RentThe first advantage of allowing...

If you are considering your first rental property or just closed on your 50th, there are many decisions to make relating to its management. Do you keep that pink bathroom? Update the landscaping yourself or hire help? One of the questions that may not have occurred to you: whether or not to hire a property manager. Many investors (both new and experienced) are hesitant to pay a property manager any of their cash flow, but it can save mo...

GC Realty & Development, LLC has enjoyed working with investors from around the world looking to purchase 1-4 unit investment properties in Chicago and the surrounding suburbs. We've worked with one of these investors in particular, Roofstock, Inc., over the past 12 months.Roofstock.com, is an online real estate investment marketplace, has provided a new opportunity for the company over the past years.As investors ourselves, we ...