Chicago Property Management Blog

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 ...

9 Security Mistakes That Put Your Family and Home at Risk

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Home burglaries in the United States have become extremely common. Every 15 seconds a home robbery occurs in the country. According to Pew Research Center the police solve only 13% of them. Having a secure home is something that all homeowners should invest in as 34% of the break-ins occur through the front door of the home.&nbs...

IS CHICAGO A GOOD MARKET FOR REAL ESTATE INVESTMENTS?

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According to the Chicago Primary Metropolitan Statistical, as of 2022 the median property cost in Chicago was just over $310,000 dollars. If we compare Chicago prices to a city like New York (where the average price of a property is close to 1 million dollars), Chicago is considered a bargain.According to the Census Bureau, Chicago had th...

HOW TO ESTABLISH A PET-POLICY FOR YOUR RENTAL PROPERTY

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According to the American Pet Products Association (APPA) 70% of U.S households own a pet (about  90.5 million families). In 1988 only 56% of US households had a pet. This notorious increase has made landlords acknowledge the benefit of permitting renters to have pets in their properties, especially in Chicago. Allowing pets can...

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