We currently manage over 1050 units all around the Chicagoland area. Please see our coverage area map.
How long does the management agreement term last?
Our management agreement is a one year term, however, we believe this is a partnership and if you are not happy with our service the agreement can be cancelled anytime by providing 30 days notice. There is a $350 termination fee if the agreement is cancelled
within the first six months.
How long will it take to lease out my property?
If we price the rental rate to be in tune with what is going on in the local market and the property shows well we can generally rent your home in 3-4 weeks.
How long have been in business?
We incorporated our firm in 2003 as an S-Corp and restructured it in 2006 as an LLC. We started our Property Management division in 2005.
Should I allow pets?
We ask that you keep all options open. We don’t have to select a tenant with bad credit and a 200 pound dog or an applicant with 9 cats but we want to keep our options open for a quality tenant that has a medium sized dog. A person’s application will
reflect how they will care for your property including how they will allow the keep of an animal in your home.
How can I protect my rental from pets?
We will accept animals of well qualified applicants. These applicants will show us pictures of their pet and they provide us information such as breed, weight, & age. This helps rule out the 40 pound mix that turns out to be a 150 pound Pitbull. An
approved tenant with a pet will pay either additional security deposit or a non-refundable pet fee. A home with hardwood, tile, or wood laminate is more pet friendly from a landlord’s perspective then a home with carpet throughout.
Does GCR&D manage Condominium Associations?
Unfortunately, we no longer accept or manage any Condominium Associations.
Does GCR&D hold the security deposit?
GCR&D will hold the rental security deposit in the owners separate rental deposit account. Any return or forfeiture of a security deposit will be approved by the owner prior to any final decisions. The balance of your account on the monthly ledgers
will reflect the security deposit being held.
Do you have your own maintenance staff or do you hire contractors?
We have a maintenance staff that is led by our maintenance coordinator. They are able to complete about 75% of all work orders that may arise. The other 15% may be contracted out to third party vendors that we work closely with. Using these third party
vendors still allows us the ability to control costs. The discounts we receive with these third party vendors are passed on to the unit owners.
Is GCR&D properly insured?
GCR&D carries a business liability, workers compensation, umbrella, auto, and professional liability (E&O) policies all with at least million dollar limits.
Dangers of Owners Speaking With Tenants
How quickly can I expect a response from my single point of contact Property Manager?
We have Trademarked the phrase “Chicago’s Responsive Property Manager™” and we take that term seriously. We track our teams’ email communications for initial response times. We also monitor the status through completion of any email requests received from both residents and clients (owners). Our owner's handbook, which we will share, says that we will be back to you the same day if you are in touch with us before noon CST, and by the next morning if after noon CST. However, more often than not, it is much quicker than that.
Does the State of Illinois require a Property Manager to be licensed?
Yes, Property Managers perform tasks that are considered licensed activities. We have held our Managing Broker License since 2003. All licensed companies can be verified on the State of Illinois license lookup page IDFPR
How can I retain references for your services from your current or past clients?
No matter who you are looking to hire, take the time to search for them on Google, Yelp, Bigger Pockets, and NARPM. You can quickly search myself and my company name and come across all that has been said online. It is impossible to hide true company culture and the quality of service that was provided to clients with whom we had dealings with. Doing a search like this will yield you a far better confidence in our services.
Do you manage both short-term and long-term rentals?
At this time we only manage properties for owners who are seeking long term rentals. We do not manage any vacation rentals, AIRBNB, or furnished properties.
How long has GCR&D been in business?
GCR&D has been in business since 2003,and consists of 3 partners. Check out this recent article that goes in depth of our company history and what our logo stands for.
How many people work for your company, and what are their roles?
At the time of this response, late 2020, we have 42 full time team members working inside of the daily Property Management operation. Our operation is a hybrid set up of departmental and portfolio style management. This allows our clients to have a single point of contact while still having much of our staff be specialists in a particular part of the business such as collections, rental licensing, Section 8, and/or leasing.
Do you have any electronic and automated online portal systems set up?
Both our residents and clients have online portals that are set up during the onboarding process.
My house is vacant and I will need you to procure a tenant, how long is the lease term?
Our lease terms are typically one year. However, in the Fall, we may request 14-16 month leases that will end in Springtime two years later.
Who keeps the security deposit if it is forfeited at the end of the lease term?
The owner keeps all security deposit funds forfeited by the tenant at the end of the lease.
Does GCR&D keep late fees that are charged to tenants?
Many Property Managers do keep late fees, however, GCR&D will pass 100% of any late fees collected on to the owner.
What is the typical cost to evict a tenant from a property?
GCR&D will oversee and coordinate eviction cases for no charge, except for the delivery or posting of notices. The main costs will be direct from the attorney we work with and can range from $900.00-$2,900.00 depending on the case severity and court appearances. This price range includes court, administrative, and sheriff costs that will need to be paid.
How long does an eviction take?
The time it takes for an eviction will depend on the County the property is located in. Will County has faster evictions than DuPage or Kane County, but Cook County evictions are way longer than all of the collar counties. For more information on evictions in Cook County check out a recent article called “7 Hurdles To Tenant Evictions In Chicago”
Will you advertise and show a property while it is occupied, or do you insist on properties being vacant before you will start advertising them for rent?
Prior to Covid19, we were beginning to market properties in advance of the current tenant moving out. This has currently been placed on hold for the remainder of 2020 out of an abundance of caution for our current tenants, potential tenants, and leasing team.
How long does a property “turn around” take in between tenants?
This depends heavily on the condition and tenant set up of your property. Moving a market tenant out and a market tenant in can be fairly quick but moving a section 8 tenant out and a new section 8 tenant in can take in excess of 60+ days for the entire process.
Do you conduct credit and criminal background checks on prospective tenants?
The conduct credit, eviction, and background checks on every applicant while carefully complying with Fair Housing Laws and the new Cook County Just Housing Amendment. If you are in Cook County you want to make sure you are following both.
Is GCR&D experienced in Section 8 tenants and properties?
GCR&D has managed thousands of Section 8 tenants over the years and Section 8 tenants currently account for 15% of our rent roll. For more info on section 8 please visit our Section 8 Resource Center.
Do you take photos of the property prior to a tenant taking possession and following a tenant moving out?
We use a system called Zinspector which is a field to office software that provides photography, videos, inspection reports, and Scopes of Work within each property when a tenant moves in and out. We also use these inspections to troubleshoot maintenance items using their 360 virtual links. Check out a 360 degree view inside of a property on this sample inspection.
In regard to Maintenance Work Orders, do you take photos of the repairs that are made by vendors or handymen?
We require that all of our internal and external technicians provide completed pictures of the work prior to us closing out a work order.
What is your management fee rate?
As advertised on this website our monthly management percentage is between 7-10% with a minimum of $100.00 per unit, per month. Multi-unit properties with rents under $1,250.00 will be treated on a case by case scenario.
How do tenants place work orders for repairs needed in their unit?
Tenants have the ability to use their online portal or call a work order into our 24/7 work order line at 224-208-1400. Here they can speak to someone that specializes in working with tenant’s maintenance requests.
Will I know about every work order reported?
Our management agreement states that you have a $400.00 maintenance limit. This means that when a particular work order is expected to go over $400.00, you will be notified right away as we seek your approval to proceed, except in an emergency scenario where safety or the property is at risk. Your financial success is important to us, so work orders that fall under the maintenance limit do not create blank checks for us to conduct work with. We will also ensure that it is in your best interest to complete any work.
Who do you hire for maintenance repairs?
GCR&D runs a full service Maintenance Department that includes in-house employees and a solid vendor network that combined can complete almost any task that may arise. We also staff plumbing & electrical specialists.
Do you cover all areas of Northern Illinois?
Check our coverage area map on this website to see if we cover your area. If your property falls outside this area, then please inquire as we may be able to accommodate your request or refer you to another quality Property Management company we work with.
Do you place your rental listings on the MLS?
Yes, and be sure that anyone you hire does list them on the MLS as well. There are many Realtors that have tenant clients nowadays, so be sure that your Property Manager is casting the widest net to secure you your next tenant.
Do you place your rental listings on Zillow?
Yes, be aware that as of February 1, 2020 Zillow, which includes Zillow, Trulia, and Hotpads, started charging Property Managers a daily fee per listing to market rentals on these sites. Many Property Managers opted out but we did not so make sure whoever you hire is paying to market on these sites. For GCR&D, this is not an extra charge to an owner.
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