Interested in our real estate services? We are here to answer your questions about your real estate needs.
Absolutely! We welcome all the help that we can get to match properties with potential trustworthy tenants in Chicago’s housing market.
Yes, and the market shows no signs of slowing down! The strong economy and high private sector employment in Chicago has made it an ideal place for investors to put money into rentals. Renters typically spend less than 20% of their income on housing,which means that the rental market is as competitive as ever.
Property managers take on the day-to-day duties of managing and maintaining rental properties. They are in charge of listing property, collecting rent for their tenants, preparing tenancy agreements, and checking each unit before it becomes available so everything’s up to code. They also make sure that all properties meet high standards before they’re listed for rent.
Property managers are often paid the equivalent of 8-12% of the monthly rent every month, which is charged to the property owner. The size and condition of each property impacts how much this fee will add up as well; for example heavy damage could result in higher costs.
Property managers in Chicago only get a small fee equal to a percentage of the monthly rental income. The exact amount will depend on what type of property is being managed.
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