Owning an investment property carries significant legal and financial risk. Many rental units can bring in extra income with proper and proactive management. Certain laws and regulations must be followed though. Property management in Chicago is a 24/7 job that requires precision and knowledge. Real Property Management Chicago Edge has some tips to help your investment be successful.
The Benefits of Professional Property Management in Chicago
As a property owner, you might think it would be easier and less expensive to self-manage your rental. After all, a simple internet search of “how to rent my house in Chicago” can give you some pointers. The reality is, using a professional property manager is the safer and cheaper choice. Real Property Management Chicago Edge can help you avoid high-costing mistakes and in turn, increase your cash flow. Property management is a unique and complex job. The responsibilities include:
- Tenants: Finding well-qualified tenants that will respect the rental unit and pay rent on time. A thorough screening process is crucial.
- Vacancies: Filling a vacancy through vigorous marketing and an organized leasing process. Otherwise, no tenants mean no incoming rent checks.
- Maintenance: Taking maintenance calls at any time – day or night. A proactive approach to maintenance requests saves money in the long run. A small water leak will be a big home repair if left unfixed.
- Inspections: Conducting regular home inspections – inside and outside – to catch problems before they escalate.
- Landlord/Tenant Laws: Making sure all laws and regulations are followed to avoid pricey errors.
- Evictions: Collecting rent and conducting quick evictions before an already negative situation spirals out of control.
- Unexpected Problems: Handling the unexpected (i.e. – natural disasters, drug/crime activity, fire) the correct way to prevent further loss.
More Money to You
Property management in Chicago requires skill, expertise, and knowledge. Partner with the local experts at Real Property Management Chicago Edge to make your investment property a successful business endeavor. Homeowners receive a better return when their property is carefully managed. Call today and put our experienced team to work for you now!