The Chicago West Town neighborhood has been one of the hottest markets in Chicago for the last five years, and the rental property potential is just scratching the surface. If you are one of the many new property owners in the West Town neighborhood looking to turn your property into a profitable rental, you need a property management company like Chicago Style Management that understands this hidden gem of a neighborhood and how to manage tenants and properties in the area.
What Makes West Town a Good Area for Rental Property
Over the last decade, the West Town area of Chicago has turned from a C-class area to a neighborhood with luxury apartments and condos, top-rated restaurants, and one of the best hangout scenes for young adults in Chicago. With restaurants like Kasama winning a Michelin star, and breweries like the Forbidden Roots or Perch, young professionals have flocked to the newly built or rehabbed condos and apartments in the area. With all of that being said, the charm of the neighborhoods' past has stayed, even with the real estate development boom, leaving tons of small shops and Hispanic food worth the travel throughout the neighborhood.
Why choose Chicago Style Management to manage your West Town property?
Chicago Style Management has years of experience of providing reliable service in C and D class areas as well as higher end neighborhoods. As this neighborhood transitions into a B or A class neighborhood, there are still elements of its C and D class past, such as older buildings, some shady streets, and areas that another real estate management company may not be willing to spend the time needed on to make sure that your tenants and buildings are well taken care of. Real estate investors also love our user experience, with real-time financial reporting that gives them instant access to their property's rental income and expenses.
What does Chicago Style Management do for its property owners?
We offer Chicago's premier property management services, handling everything for our clients from rehabbing a vacant property, finding and screening a new tenant, collecting the rent, handling financial reports, notices, and evictions when needed, as well as handling any work orders tenants may place, all while making your investment property passive. We handle tenants, toilets, and other issues that arise; you handle spending time at your 9-5, with your family, or on vacation. Our clients never have to worry about being called into an emergency during the middle of the night or while on vacation, and never have to worry about figuring out their accounting when it's time to do their taxes.
Why hire a property manager for your West Town Investment Property?
Most real estate investors don't have the time to keep up with the current market, so we often take over for owners whose rent price is costing them thousands of dollars in cash flow. Not to mention the city of Chicago has one of the most stringent landlord-tenant ordinances in the country; one small mistake could cost you thousands in fines. By hiring a professional property manager in Chicago, you are not only freeing up your time but also protecting your cash flow and profits from lawsuits and pricing mistakes.
Questions to Ask Property Managers Deciding Who to Hire
Do you have real-time financial data I can access at any time? We have taken over for many property managers who were just doing reporting on their computer or with pen and paper and oftentimes those reports were inaccurate, and we later found that the property managers were either stealing from them knowingly or incorrectly holding onto funds that should have been disbursed to owners.
What associations do you belong to? Chicago-style management is part of the Chicago Association of Realtors, the National Association of Realtors, and the National Association of Real Property Managers. This ensures we are kept up to date with all of the new policies and latest best practices for asset and property management.
