WHAT PROPERTY MANAGEMENT IN CHICAGO CAN DO FOR YOU WHEN SELECTING TENANTS
Tenants can make or break your rental investment success. It is important to select tenants that will not only pay rent on time but respect your property as well. Poor tenant picks can lead to huge problems down the road, potentially decreasing your profitability.
FILLING THAT VACANCY
While it is important to end a vacancy, it is equally important to find good tenants and that might mean not jumping on the first applicant that comes through your door. The professionals at Real Property Management Chicago Edge use seven proven techniques to find the right tenants for your rental while still reducing your vacancy days.
- First, an application is required for every tenant over the age of 18.
- Second, we verify the combined income of tenants to make sure it equals a minimum of 3X the rent rate.
- Third, we pull a credit check. When potential tenants have a low credit score, we verify employment and income as well as request a written explanation of any late payments from the past.
- Fourth, our Chicago rental property management experts take the time to verify rental history. A positive review from previous landlords says a lot about an applicant. Two years of prior rental history is typically adequate. Fifth, we screen applicants by conducting a criminal background check. When a tenant has a history of drugs, theft, violence, or sexual assault, there is an additional amount of risk and liability.
- Sixth, we check references. It is essential to not only contact friends or family but employers or colleagues as well.
- Seventh, knowing what you can and cannot do throughout the screening process is crucial. Our professionals stay up-to-date on current laws and regulations to make sure homeowners stay in compliance with all housing, discrimination, contract, and fair credit reporting laws. This ultimately saves landlords from costly lawsuits, penalties, and fines.
LOOKING FOR DEPENDABLE PROPERTY MANAGEMENT IN CHICAGO?
Responsible and reliable Chicago rental property management makes all the difference. The professionals at Real Property Management Chicago Edge know the rental industry and can help you run a profitable investment. We stay in strict compliance with the law to safeguard our clients, protect cash flow, and ensure every property is well maintained. Put our team of experts to work for you. Call us today.