Chicago Property Management Blog

How to Winterize Your Rental Property

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Winters in Chicago can be long and formidable. Whether it’s the frigid winds or the regular mid-winter snowfalls, ensuring that your Chicago rental property is adequately winterized for your tenants is crucial. Not only is providing your renters with enough heat the right thing to do, it’s also the law. Landlords who don'...

The Top 5 Design Trends to Avoid when Renovating your Rental Property

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Regular maintenance of rental properties is an expected element of property investment, especially between tenants. However, if your rental property is showing its age or seems lackluster in the context of the Chicago neighborhood where it resides, you might be considering renovations in order to lure high-quality tenants and increase you...

How to Set the Right Price for Your Chicago Rental Property

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When analyzing a real estate investment, there are many financial variables to take into account in order to be successful. One of the most important questions to answer regarding any rental property is what the appropriate rent amount is.Charging too much for rent in a particular unit can result in increased losses from vacancy while cha...

5 Ways to Guarantee that your First Chicago Investment Property is a Success

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Purchasing your first rental property can be a lucrative endeavor, but it’s not without financial risks. Knowing what to expect, how to approach acquiring a new property, and which properties will be worth your investment, is key to succeeding with your first Chicago rental property.In this post, we will examine five ways to ensure ...

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

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If a tenant did not pay rent or you incurred significant damages to your property during their lease, you might need to withhold a portion, or all, of a tenant’s security deposit to cover your losses. As a landlord, it is important to understand what you are legally allowed to charge your tenant, as well as the specific laws regardi...

Can I Sell My Rental Property While Tenants Occupy It?

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When you’ve decided it is time to sell your rental property, you have two general options: wait for the tenant’s lease to end and they move out to sell to an end-user, or sell your property to an investor while your tenants still occupy it. While selling your tenant-occupied home is an option, it can be more difficult than sel...

Navigating the Eviction Process in Chicago During Covid 19

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Covid has unfortunately made it difficult for many tenants to pay rent. Under normal circumstances, after a missed payment, a landlord has the right to start the eviction process. However, with eviction courts closed and a new Covid-19 Eviction Protection Ordinance in Chicago, the eviction process has become more difficult for landlords. ...

Should I Own My Rental Property in an LLC?

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Owning your rental Property in an LLC can be a smart decision as a property owner. An LLC can help reduce your overall personal liability, but with anything, it’s important to understand the benefits and drawbacks for your investment purposes.What is an LLC?A limited liability company (LLC) is a type of business structure. It combin...

HOW TO PROPERLY SCREEN NEW TENANTS

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Any prospective tenant can seem great during the initial walk-through. So it’s important to screen every potential tenant thoroughly before allowing them to sign a lease. A seasoned landlord knows how frustrating it can be to work with a difficult tenant. Whether they are constantly behind on rent, racking up complaints from ne...

What kind of insurance do I need for my rental property? Should I include Renter’s Insurance?

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The Windy City is a great place to live and invest. Finding the right insurance policy is an important step to protect your rental property from liability. If you occasionally rent out a room in your primary residence, then homeowners insurance might work for you, but if you’re renting your house, a vacation home, or other inve...

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