Chicago Property Management Blog

As of September 2022, the average rental vacancy rate in the United States is 5.6%. This number reflects the percentage of rental properties that currently do not have a tenant.If you’re investing in a rental property, your goal should be to avoid vacancies whenever possible. The best way to do that is to convince tenants to sign renewal agreements.Lease renewals keep your rental payments coming in regularly and prevent you from h...

Here are four questions that will help you find a good property management company.Number 1:What is their tenant screening process? How do they screen them? Take me through what their process looks like. What's included? Is it a full criminal, credit, eviction, background check? Do they require proof of on time rent payments? Pay stubs? Do they look into their social media accounts? Do they call references? You really want to d...

As a business owner, I have learned over the years that I need to rely on data to make decisions. I learned early on that my gut instincts couldn’t tell me all the information I needed if I wanted to grow my company.In January of 2020, I wrote a blog that was posted to Bigger Pockets. The post contained information that I had acquired over an eighteen month period while talking to over 300 investors across the country. I prop...

84% of landlords say that their biggest worry when it comes to renting properties is payment issues. There are many reasons why a tenant may have issues paying their rent - but wouldn't it be great if you could find out that this might be an issue before renting to them? That's where credit checks come in. By looking into a potential tenant's credit report, you'll have a better idea of whether they'll be a ...

While hiring a professional may seem expensive, there are several things to consider beforehand that may point you toward this choice. Risk ManagementWhen you manage your own property, you are taking on 100 percent of the risk. If you work with a professional property manager, you are passing on a large part of that risk. If something goes wrong, you have an extra layer of protection. As an inexperienced landlord, you might ma...

You're trying to decide whether you should manage your own property or hire a professional property manager. I've seen a lot of people who aren't that good at managing their own properties. They list their home on Craig's List and Facebook, but they're not getting quality leads. Their tenants are constantly paying late and giving them every excuse in the book when they can't make their rent payments on time.Self ...

I am super excited to report that GC Realty & Development, LLC has made the INC 5000 list for the 4th year in a row. Special thanks to all those that help us achieve so many great growth years including our clients, vendors, residents, collaborators, Straight Up Chicago Investor Podcast family, and most of all, OUR EMPLOYEES. Thank you!Inc. released the Inc. 5000 2022 list of America’s Fastest-Growing Private Companies. ...

Do you own a rental property?If so, then you understand that dealing with the day-to-day operation of keeping everything running efficiently can be stressful. This is especially true when you have problems collecting rental payments from tenants.Keep in mind that you won't stay profitable if tenants don't pay when their rent is due. So what's the best way to handle this uncomfortable situation? This article can help. Here we...

When we begin working with new clients, they often ask if they should allow pets, or they tell us they don’t want to allow pets at their rental property in Chicagoland. We always advise our clients to keep an open mind. You have a large part of the population with at least one pet, and they’re looking for rentals that will accommodate them and their family. It’s becoming more common for homes to allow pets. Proper...

In recognition of the growing use of service and assistance animals, our Property Management Team is trained on the topic of service and assistance animal laws according to Federally regulated Department of Housing and Urban Development (HUD) Guidelines. We are pleased to share a summary of what we learned with you so that landlords, tenants, and followers can stay informed about these important rules, especially as a growing number of ...