Chicago Property Management Blog

Are you thinking about buying a home in the Chicago, IL area for the first time? You're in luck.According to a recent report, Chicago-area home prices just dropped for the first time in more than a decade. It should make it possible for you to buy a house without having to break the bank.We have more good news for you, too. There are a bunch of first-time home buyer programs you might be able to take advantage of when shopping for h...

Chicago has established several ordinances regulating rental housing and the landlord-tenant relationship. As housing providers and community members, it is important that we understand these ordinances to ensure compliance and promote safe, equitable living conditions for all. Some of the key housing ordinances in Chicago include:Residential Landlord and Tenant Ordinance (RLTO): The RLTO establishes rights and responsibilities for resi...

Chicago is home to many reputable property management companies that provide services to residential and commercial landlords. As a landlord, finding a qualified property manager is key to ensuring your real estate investments are well-maintained, tenants are supported, and legal requirements are met. Here are some of the top property management companies operating in Chicago:GC Realty & Development LLC: GC Realty & Development ...

Over the last couple of years, homes in Chicago, IL have been selling faster than ever before. This will be great news if you're someone interested in trying to sell a home fast in the Chicago area.But just because other homes in Chicago have been selling quickly doesn't necessarily mean you'll be able to sell your home fast if you don't take the right steps. It'll be important for you to take the correct approach to...

As landlords operating in Cook County, it is important to understand our responsibilities under the Residential Tenants Landlord Ordinance (RTLO). The RTLO establishes certain rights and protections for residential tenants in unincorporated Cook County and requires landlords to meet minimum health and safety standards for rental properties.Some of the key provisions of the RTLO that landlords should be aware of include:Security deposits...

As a leading provider of affordable housing in Chicago, we are committed to promoting equal access to safe and affordable housing for individuals and families of all backgrounds. The Chicago Housing Authority's Housing Choice Voucher Program, commonly known as Section 8, provides rental assistance to over 50,000 low-income households in Chicago. For those who qualify based on their income, Section 8 vouchers can be used to rent appr...

I have flirted with the idea of this article for quite some time now because I do truly believe in the use of Property Management from the investor standpoint. However, my hesitation in publishing this topic has been countered by the idea of the negative feedback I may receive for my comments below.   To head off some of those comments I will start by saying there are plenty of poorly run Property Management companies across t...

According to a PR Newswire article, foreclosures increased by 6% in the first quarter of 2023 when compared to 2022.Initiating a short sale is one way homeowners can avoid foreclosure, but what is a short sale, and is it a good idea to buy a home this way?A short sale is when the homeowner agrees to sell the home for less than the outstanding mortgage balance, and the lender forgives the rest of the cost.Are you considering buying a sho...

Buying your first home is an exciting and significant milestone. However, navigating the real estate market can be overwhelming without the right knowledge and guidance.Lots of homeowners wish they had access to resources and tips to help them through the process at the time. Luckily for you, you've stumbled upon this article.Read on for our first-time home buyer's guide.Understanding Your Needs and BudgetBuying a home for the f...

What is a Rental License Program? A rental license is a government program that provides landlords with consistent enforcement of codes of properties in various Chicagoland suburbs. To learn if your property has a rental license program check our list “here”. You can also google “Yourtown rental license” or visit the municipal website.Does every Chicago suburb have a rental license program?NoHow long will it...