Property Management Blog

By Tim Harstead - Saturday, September 7, 2024

Should I Hire a Property Manager in Chicago?

There are certain challenges in every business, but property management can be especially taxing because of everything an owner needs to do for the rental business to run smoothly. It’s sometimes a task that real estate owners can do themselves, but the question is: Do they...

By Tim Harstead - Tuesday, August 6, 2024

IL Ranks in top 10 for 2024 home insurance rates increase

last year, the average home insurance costs have increased by over 20%, and according to a new report on bigger pockets (https://www.biggerpockets.com/blog/home-insurance-rates-to-increase-another-6-percent), the rate increases are not done yet for Illinois residents. Homeo...

By Tim Harstead - Wednesday, July 31, 2024

Our Response To HUD’s New Rules on Fair Housing - Part 2

Note: This is a Part 2 of our previous blog post, which can be found HERE: New HUD Report for Tenant Screening and Credit Checks - Part 1Your role in advocating for small landlords is crucial. If you haven't read my previous post on the new rules, I encourage you to do s...

By Tim Harstead - Sunday, July 28, 2024

Why Choose Full Service Property Management in Chicago?

Are you one of the 45% of landlords who manage their own investment properties? The do-it-yourself route could prove stressful and costly. Instead, rely on full-service property management.With help from an experienced property manager, you can increase your occupancy rate and RO...

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...