Property Management Blog

By Tim Harstead - Sunday, July 21, 2024

Myths About Rental Property Pricing

Chicago has the highest rental prices in the midwest, with the average 2-bedroom apartment coming in at over $2,600 per month.If you're looking to get in on the booming Chicago rental market, you'll need to take the property valuation process seriously. Performing an accu...

By Tim Harstead - Sunday, July 14, 2024

Tips to Attract Tenants in a Tough Chicago Market

From the Loop's gleaming high-rises to the cozy, tree-lined streets of Lincoln Park, Chicago offers a vibrant mosaic of neighborhoods, each with its own unique charm and challenges.As a property manager or landlord, you know that attracting tenants in such a competitive envir...

By Tim Harstead - Sunday, July 7, 2024

How to Keep Great Tenants in Your Chicago Investment Property

Imagine this: You've just found the perfect tenant for your rental property. They pay their rent on time, take care of the place like it's their own, and even greet you with a smile whenever you drop by. It's a landlord's dream come true!But, as time goes by, you ...

By Tim Harstead - Friday, June 28, 2024

Eviction Protection Plans for Landlords in Chicago

Evictions in Chicago have gone back to pre-pandemic levels.If you're a Chicago landlord, evicting a tenant is one of the most stressful aspects of the job. You don't want to have to evict a tenant, but at the same time, you need to protect yourself and your property.Putti...

By Tim Harstead - Friday, June 21, 2024

5 Tips for Effective Maintenance Coordination in Rental Properties

Rental turnover rates hit around 20% in Chicago last year.Tenants choose to leave rentals because they think they can do better. The most common reason for rental turnover has to do with unresolved maintenance issues. If you can't properly maintain your rental properties, you...

By Tim Harstead - Friday, June 14, 2024

Keeping Track: How to Manage Your Rental Property Accounting Records

Chicago is one of the best cities in the country to own rental property, with nearly 55% of properties being renter-occupied.As of November 2023, the average monthly rent in Chicago was almost $2,000, which ranks in the top 20 in the US. Chicago landlords earn plenty of income fr...

By Tim Harstead - Friday, June 7, 2024

Difference Between Pets, Service, and Support Animals: A Landlord's Guide

Imagine you're a landlord about to rent out a cozy apartment. You've just met a potential tenant who mentions they have a pet.As you start considering the logistics, questions arise: Is it a pet, a service animal, or a support animal? What's the difference? How will e...

By Tim Harstead - Wednesday, June 5, 2024

New HUD Report for Tenant Screening and Credit Checks - Part 1

On April 29th, HUD released new guidelines for screening tenants and being compliant with the latest fair housing laws. I am writing this post in two parts. This is part 1 and will go into a summary of their 24-page guidance and what it means. Please note I am not an attorney, an...

By Tim Harstead - Tuesday, May 28, 2024

Attract New Residents Moving to Chicago for the First Time

Despite Illinois' quiet streets, downtown Chicago buzzes with more people than ever since the pandemic. For landlords, this change is a chance not to be missed.With more people moving to Chicago, there are more potential renters. This means you can fill empty properties faste...

By Tim Harstead - Tuesday, May 21, 2024

Safe Property Management for You and Your Tenants

As a property manager, your tenants' safety isn't just a checkbox on a legal form - it's a core responsibility that directly impacts your success. But how do you go beyond the basics and truly ensure a safe living environment?In this blog, we explore safe property man...