Chicago Property Management Blog

Considering Short Term Rentals (STR)? Watch this First!! (Pros & Cons)

Short term rentals can be an amazing way to launch your real estate investing career and make some serious cashflow. But have actually weighed the pros and cons? If you’re considering this investing strategy stick around and I’ll explain my top pros and cons of this asset class.Hi everyone, Jason Marcordes here with Landmark P...

What Type Of Insurance Do I Need For My Rental Property?

Hi everyone, Jason Marcordes here with Landmark Property Management. Today we are answering the question: What type of insurance do I need for my rental property? Now I know that nobody wants to think about insurance, let alone pay for it for that matter, but I promise that if you need it, you’re sure glad you have it! Over the past...

Rent-to-Income Ratio: Everything Landlords Need to Know

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When you need to fill a vacancy, you will have to start vetting the applicants. Although this is a tedious process, being thorough can help you choose the best applicant for your vacancy. An important part of selecting a new tenant is ensuring they can afford the rent, and that’s when evaluating their rent-to-income ratio becom...

What Can I Charge to my Tenant’s Security Deposit?

Hi everyone, Jason Marcordes here with Landmark Property Management. Today, we’re discussing the question, “What Can I Charge to My Tenant’s Security Deposit?” Before we talk about what we can and can’t charge to a tenant’s security deposit, let’s start with some security deposit basics.Illinois h...

Can I Sell My Rental Property With Tenants In It?

Today we are answering the question: Can I sell My Rental Property with Tenants In It? We wrote this blog a few years ago and it was a big hit, it’s our #1 blog post of all time, so I wanted to update it with a quick video version. So, can I sell my rental property with tenants in it? The short answer is yes! The lease is a leg...

What Can Chicago Landlords Do If Tenants Stop Paying Rent?

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When you have a tenant who hasn’t paid their rent on time, you’ll want to reach out to get this resolved immediately. If they don’t come forward with the rent, there are a few options you can pursue, including an eviction in the Chicago courts. While this may sound simple, it’s actually a complex process, and ...

A Guide to Changing Tenant Locks in Chicago

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As a general rule, you should change the locks on your rental unit each time a tenant vacates your property. Since there are many reasons a tenant might vacate, you must understand what to do in each situation. These practices will protect your property and help you avoid litigation. Scenario 1: The Tenant Moves Out at the End of The...

Build to Rent Homes

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Build-to-rent homes are residential properties that are built specifically for the purpose of utilizing them as residential rental property investments. While first starting in the 1980s, build-to-rent homes have gained in popularity over the past few years. Building ground up, rather than converting existing properties into rentals, has ...

6 Ways to Save Time and Money as a Property Manager

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While owning rental property provides a consistent source of income, it can also drain your time and finances if you’re not careful. You can reduce these costs and save time by creating a consistent management process that you use in managing every property you own. Here are 6 specific tips to help you get started.1. Create the Same...

Advantages and Disadvantages of Short Term Rentals

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Over the past few years there has been a notorious growth of short- term rental platforms such as Airbnb, VRBO, HomeAway. For many homeowners there is an internal debate between renting long-term versus short term. Contrary to a long term rental, a short term rental is a property that is rented out furnished / turnkey ...

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