There are indeed very few approaches to investing money that impart the kind of stability and growth that real estate can offer, especially as to single-family rental properties. Why is rental real estate your rapid course to becoming a millionaire? Here are just a few solid reasons why owning Arlington Heights rental properties can achieve this aim.

Monthly Cash Flow

When executed properly, owning rental properties can get you to generate a great monthly income. Incredibly, not only should your rental payments cover the mortgage, insurance, and other expenses, but as a matter of fact, a lot of investors are pleased with positive net cash flows as well. Notwithstanding that it’s highly possible to acquire positive monthly cash flow with just one or two properties, many investors work their way up to a steady income through obtaining multiple properties.

Equity

In as much as your rental payments pay your mortgage, each one allows you to pay down your mortgage and build equity in the property. This equity can then be put to use in various ways to let you additionally increase your wealth-building potential. As an example, equity loans or refinancing a mortgage can help give you cash to invest in another property. You also recognize that equity is in profit when the time comes to sell the property.

Appreciation

Side by side with building equity, single-family rental homes are likely to appreciate in value year over year. This can certainly increase the amount of equity you have in the home and, thereby, increase your investment activity additionally. Even though not all real estate markets see gains every year, and few markets will see home prices rise faster than others, if you pick out your location attentively, you could surely see interesting upswings in value at the appropriate time.

Resources

Investing in rental real estate is additionally the best thing to obtain access to wealth-building resources that most other investors don’t have. If you have your rental properties leased and expertly managed, you can spend more time on activities that directly contribute to your bottom line. Approving someone else to tend to the day-to-day tasks enables you to focus on more productive investing activities.

Investing in real estate is likewise one business that will permit you to leverage other people’s assets to sustain your upward growth. Investing partnerships and collaborations are typical, particularly with a mentor or trusted business associate. By pooling resources, you can surely do far more than you could do alone.

Tax Benefits

Another benefit that’s important not to overlook is a federal tax. A lot of tax deductions are available to investment property owners, from operating costs to mortgage and property taxes. Several rental real estate investors turn out to be paying far less tax on their monthly income than they would if it was obtained another way.

With countless potential, it’s uncomplicated to see how investing in rental real estate could be your path to being a millionaire! Although to get started on the right foot, it’s relevant to have professional Arlington Heights property managers on your team. At Real Property Management Chicago Group, we team up with rental property investors to assess markets, set accurate rental rates, and even locate off-market properties for sale.

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Average Investor Salary

On a national level, the average real estate investor salary is somewhere between $70,000 and $124,000. It’s relevant to stress out that this estimate is based on all types of real estate investing, including house flipping and wholesaling. So it’s not a very useful estimate for single-family rental property investors.

Average Rental Property Owner Salary

When you aim at investors who buy and hold rental properties, the average salary for rental property investors changes to a range of $27,500 to $121,000 – an even wider swing than for investors overall. A little of what skews these numbers is that a lot of rental property owners are small investors, obtaining one or two rentals.

After monthly property expenses are taken into account, rental income can be relatively modest, especially for investors who are just starting. Nonetheless, as the upper end of the average salary presents, quite a lot of rental property investors make six-figure incomes together with the value of the property assets they hold.

Why Aren’t the Numbers More Specific?

It will be tedious to pin down how much a rental real estate investor makes because an investor’s income depends upon a range of conflicting factors. From how much cash flow each property generates month-to-month to how many properties you keep and how often you purchase more.

Real estate investing is a local business, so the local market will also significantly determine yearly investor income. The average salary for a real estate investor in North Carolina is about $99,000, whereas, in New York, it’s over $136,000.

How to Increase Your Rental Income

If you are undertaking to really grow your way into a healthy salary as a rental property investor, there are things that you can carry out to ensure that it will happen. Some investors find it profitable to buy as many properties as they can each year. Others explore avenues for the best real estate deals that will offer higher returns. Other investors may branch out and invest in up-and-coming markets, hoping to capitalize on growth in new markets.

It’s additionally vital to ensure that you optimize the rental income for every property you do possess. You may be truly missing out on additional earnings without even knowing it. There are multiple excellent ways to increase your rental income on an existing property. Fixing and improving your property’s condition could enable you to charge more rent, and as long as it is fulfilled inexpensively, it can be highly effective. It’s further necessary to know whether you are charging enough rent and how to use local market assessments to set your rental rate.

If all of this has you feeling a little overwhelmed, you may like to take into consideration working with Evanston property managers who are local market experts and can give you assistance in making the most of your rental properties. To learn more, contact us online today.

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Residential

Many new real estate investors thinking of purchasing select a residential rental property. Obviously, there may be an excellent reason for this: the residential real estate market is vast! In 2020, it was valued at $33.6 trillion and still increasing. By definition, residential real estate is purchased and occupied as a dwelling by owners or tenants.

Within this broad category of real estate, there are quite a lot of different kinds of residential properties: townhomes, duplexes, multi-family buildings, single-family residences, and more. Thanks to lifestyle and renter demographic changes, single-family rental properties have been in high demand for years. This makes investing in single-family properties one of the most commonly used options for new investors.

Commercial

By comparison, commercial real estate is property used only as a workspace or to conduct a business or trade. As with residential properties, there are lots of different kinds of commercial properties. Office space, retailers, restaurants, hotels and resorts, and even healthcare facilities all fall under the category of commercial real estate.

There are quite a lot of benefits and advantages of investing in commercial real estate, as it can be a very excellent option for most investors. Though, the initial cost of a commercial property is sure to be much higher than a residential property, which can be a hard complication for first-time investors to go through.

Industrial

Despite the fact that it’s technically part of the commercial real estate category, industrial real estate is a really unique type of real estate often designated for use in very specific ways. Examples of industrial real estate include car manufacturers, storage and distribution centers, food processing centers, power plants, and research and development parks.

There are additionally three different classes of industrial real estate – A, B, and C – so it’s imperative to do your research if you are taking into account investing. Leases on industrial properties can be very financially beneficial and have a tendency to be very long-term holdings. And, much the same as commercial real estate, it can be too costly to secure industrial property, primarily if such properties are in large demand.

Land

The fourth and final type of investment property you should learn about is land investment. Most of the time, raw or vacant land is purchased with the main goal to develop it in any way or to use the natural resources on or under the land for profit.

For many investors who own land, this would involve offering leases that allow tenants to harvest minerals or water, oil or mining, timberland, orchards, or to use as farms, ranches, and recreational activities. Buying raw land, particularly, is an exceedingly speculative investment that carries an equally high degree of risk. Though in good circumstances, leasing land can be a financially beneficial strategy for a real estate investor.

With a whole lot of different options within reach, many real estate investors will go into one type or sub-category of real estate, choosing to specialize. This can be exactly good when you are just initiating the process because it takes time to grasp everything you need to ascertain about investing in each type of real estate.

If you are looking to start investing in residential rental properties, we can help! Our local Arlington Heights property management experts join and work with investors like you to help look for, prep, and lease quality residential rental homes. Contact us today to learn more.

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Prepare for Severe Weather

Water damage due to severe water incidents is quite common, especially in areas where storms are a regular problem that people have to face. Strong wind and heavy rain may cause water damage. And if your property is in a flood-prone area, you’ll need to be wary of flash flooding as well.

To prevent water damage, it’s important that your rental property be made ready to go through severe weather. For instance, you have to do an annual inspection of your roof and make sure to seal all cracks or gaps you find. If there are shingles that are missing, replace them as needed. Also, ensure that your flashing, gutters, and downspouts have been correctly installed and are in good shape. If there’s a period of heavy rain approaching, improve the drainage around your property’s foundation to help the water flow away from the walls. If your property is in a flood zone, think about having sandbags on hand. Or, at least, have some sandbagging supplies nearby. These can really help protect your property. Even during unexpected weather events, preparation is key. With a little preparation, you’re doing a lot to help keep your property safe and dry.

Clean the Gutters

Other likely causes of water damage are incorrectly installed and clogged gutters. The gutter system is there to help the water flow away from the structure of your rental property. The issue is when the gutter collects too many leaves, twigs, and other debris. Instead of the water going through it, it pools and overflows and goes down the side of the house. When this happens, a lot of problems can happen. There could be leaking ceilings, wood rot, damaged drywall, and also ruined flooring. And, if left unchecked for long enough, leaking gutters can even erode a cement foundation and also destroy your landscaping.

This can easily be prevented by cleaning your rental property’s gutters at least twice a year. See to it that you clear out any debris. Then check the gutter system for any leaks and pooling water. When you habitually clean and make small repairs on a gutter system, you’re not only preventing water damage but you’re also saving on long-term repair costs.

Inspect Your Plumbing (and Water Heater)

The inside of your rental property could also suffer from water damage. Usually, plumbing issues are to blame. Leaking pipes, broken faucets, worn-out washing machine hoses, and old water heaters are the likely sources of water damage. Even something people regard as small– like a slow or blocked drain– can potentially cause serious water damage. And that damage could cost a lot in emergency repairs.

To make sure water damage won’t affect the inside of your rental home, have your entire plumbing system inspected annually. A professional plumber will be able to spot developing problems before they become obvious. Then you could have that fixed immediately during an inspection. By dealing with the plumbing problems while they are small, you do a lot in preventing water disasters. Not to mention what you save on repairs. It’s also crucial to keep track of your water heater’s age and condition. Make sure to have it serviced regularly and replaced before it fails. A failing water heater can leak water and flood a basement or garage. Now, you’ll have to pay for clean-up and repairs on top of the cost of replacing the unit. By replacing it before it fails, you’ll be able to better manage your cash flows and save yourself from unnecessary expenses.

Preventing water damage can be difficult. For sure it requires both time and good management. Instead of doing it all yourself, consider hiring one of our professional Chicago property managers to handle your preventive maintenance and inspections. To learn more, contact us online.

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Benefits to Consider

First, let’s take a look at the benefits. Aside from the benefit of having no mortgage payment, there are other great things that come with buying a rental property with cash. For example, more sellers would be inclined to negotiate with a cash buyer, especially if you can guarantee quick and full payment. They may even accept a lower price for the property. With no mortgage approval process to go through and potentially delay the sale, a cash buyer can move forward with the purchase quickly and eliminate the risk of loan denial.

Another benefit to consider is having to pay a smaller amount over the long term. This is because the property is free from any mortgage interests. Also, you get to save money from not having to spend for fees related to the appraisal, title insurance, and lender-imposed closing costs. And, because you will own the property at day one, cash buyers have full, instant equity in the property. This means you immediately have equity that can be borrowed against or cashed out when the time is right. Lastly, the thrill of a cash purchase is reason enough for some investors to jump in.

Costs to Consider

Although buying a rental property with cash has a lot going for it, there are also costs that you will have to consider– even if you plan to forgo financing your purchase with a mortgage. For example, while you may avoid the loan-related fees, you will still need to pay, out-of-pocket, the closing costs on a cash sale. These costs can go as high as around 3% of the property’s purchase price. These would include expenses like real estate transfer taxes, processing, and filing fees levied by the County Recorder, a home inspection fee, and so on.

Property taxes will also always be an expense that owners will have to pay. This will never go away. There may be property taxes on the sale itself– which would be due at the time of the sale. Then there would also be an ongoing expense– a tax that would have to be paid every year or twice a year. In many places, you can take a look at a property’s tax bill online through a city or county website.

Some more ongoing expenses that you have to pay would be the insurance, maintenance and repairs, utilities, and in some cases, homeowner’s association dues. All this comes together with owning your investment property. And finally, you’ll need professional Warrenville property management to maximize ROI. So, be sure to look into these and all other costs of owning a property, then include them when you’re making your monthly cash flow projections.

To reap the advantages of buying a rental property with cash, see to it that you have more than just the property’s purchase price on hand. You’ll also need enough cash for closing costs, taxes, insurance, and the repairs you’ll need to make to get the property ready to rent.

At Real Property Management Chicago Group, we help rental property buyers find good deals and off-market properties. Whether you want to pay cash or finance your next rental, we can help! Contact us online to learn how.

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Rotate Your Items

Dry storage areas typically store baking supplies, grains, dried beans, cereals, and canned goods. These foods are great because they keep on the shelf for a long time so you can buy them long before you need to use them. But if you have a stock of dry food in your pantry, kitchen, or storage room, it is a good practice to rotate your items regularly. Place new inventory behind older ones to ensure you use your existing stock. It is also good to write the expiration date of items on the containers and throw out expired items. Rotating your dry food is a great way to avoid getting sick from spoiled dry foods!

Cooler is Better

Dry food that lasts a long time in the right conditions can spoil quickly under the wrong conditions. This is especially true if you try to store dry foods in an environment that is too hot or not temperature controlled. According to the U.S. Department of Agriculture, dry food should be kept somewhere where the temperature is between 50 degrees and 70 degrees Fahrenheit. Storing dry goods in temperatures colder or warmer than these may cause them to deteriorate faster than they should.

Drier is Better

Together with cooler temperatures, keeping dry food dry is also very important. If you live in a humid climate, this can be challenging. Humidity can damage dry food and the packaging it comes in. Cardboard and even some cans get damaged when there is a lot of moisture in the air. In particular, wet boxes can become breeding grounds for mold and bacteria.

In humid climates, dry food is usually stored in airtight glass containers instead of in bags and boxes. If that is impractical for you, or if you live in a dry climate, you will need to use a dehumidifier or air conditioner to protect your dry food stores during the more humid seasons.

Keep it Centered

When identifying a place to keep your dry food storage, keep in mind that temperature and humidity levels differ even in the same room. For instance, you would get a different temperature reading around the outside edges of a room, near windows and doors, and up high. Exterior surfaces also tend to have more condensation problems and this can lead to bug or rodent infestation.

Even if your dry food storage is inside your house, put it someplace centrally located and off the floor. Do not place anything in areas that get direct sunlight or against an exterior wall. If your storage is in the basement or cellar, don’t place your shelves along any unfinished exterior cement walls. This will help keep your dry food dry, clean, and ready to use when you need it.

Are you in the market for a new rental home? Real Property Management Chicago Group can help! Contact us to speak to a Skokie property manager or view our listings online.

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Gallery Wall

One popular way to personalize an empty wall is by creating a gallery wall. A gallery wall is more than a few framed photographs; it is a coordinated display of art or photographs arranged with intent and an eye for design. Pick a theme color or art pieces in similar styles for a put-together look. You can also coordinate your gallery wall by using the same style or color of the frame on each piece. Or, go eclectic with different colors and frames, and make your wall reflect your unique personality! Use removable double-sided adhesives to hang your pieces to prevent wall damage.

Natural Beauty

Plant shelves are also a great way to fill an empty wall with natural beauty. Plants add relaxing greenery while freshening the air inside any home. You can use vibrant pots, too, for a custom look. But your landlord might not be happy if you install hanging shelves on the wall. You might want to use a tall open bookshelf instead or removable adhesives to display your plants.

Tapestry or Fabric Wall Hanging

Hanging a tapestry, rug, or fabric wall is another unique look for an empty wall. You can make macrame art or weave fabrics into a beautiful display if you are the crafty type. Or, you can purchase an interesting piece of fabric, tapestry, or lightweight rug and hang it on the wall. You can also opt for smaller pieces of fabric arranged in the space. Make sure to use removable hangers and adhesives.

Temporary Wallpaper

If hanging things on the wall still isn’t doing the trick, you can opt to put up temporary wallpaper on the empty wall instead. This is also a great way for renters to create an accent wall without having to paint or damage the wall to install it. From traditional to contemporary, temporary wallpaper comes in a variety of styles. You can go for bold, bright colors or choose softer neutrals. Whatever you choose, you can easily remove the wallpaper when you move out, therefore ensuring your security deposit refund.

Go 3-D

An empty wall is also a great canvas to showcase your collected items, from hats to baskets. Beautiful woven baskets or sunhats hung on the wall create a beautiful, unified display. These lightweight items work well with removable adhesives and will make a lasting impression on your guests. Your wall will pop with personality with your display of 3-D things!

Are you looking for a new rental home that you can decorate to your heart’s content? The Warrenville property managers at Real Property Management Chicago Group might have what you’re looking for. Check out our listings online today!

The post Renter-Friendly Ideas to Upgrade Your Walls appeared first on Real Property Management Chicago Group.

Leave the Heat On

The first step to winterize your rental property is to leave the heat on. You might want to turn it off so that you can save some money from utilities. However, it will cost you more to have to repair a flooded home from burst pipes because there was no heating in the rental. You don’t need to leave the heat on full blast, but it should be consistently warm enough on the inside of the house to help keep your pipes from icing over.

Drain and Insulate Your Pipes

Frozen pipes can be very challenging to deal with; so, the wise thing to do before you leave them vacant in cold temperatures is to drain them and insulate them properly. Start by draining and detaching any garden hoses on the outside, and wrap your exterior hose bibs with insulation. Make sure you drain out your sprinkler system so that you can prevent any potential leaks underground. Inside the house, wrap any exposed pipes – especially those in the basement or attic – with insulation or spray with foam.

Clean Gutters and Inspect the Roof

Checking your gutters and your roof is a key step in preparing your vacant rental property for the cold season. Plumbing may cause a lot of cold-weather issues, but so do the gutters and roof of your rental property. Clogged gutters or missing shingles can cause water to seep into the attic and walls and gather around the house’s foundation. When it seeps in and freezes, it will expand and destroy the structure. That’s why it’s wise to have your gutters cleaned and drained properly, and your roof made weather-tight.

Trim Trees & Shrubs

To end, one last task you should do to winterize your vacant rental property is to trim back any tree branches or shrubs that are touching or overhanging the house. Also, don’t forget to move any woodpiles or other objects touching the house. If there are any branches too close to the house, these can cause possible clogging of your gutters with leaves or the breaking or falling off branches on the house during a storm. Woodpiles are known to be spots for pests and insects. When it gets too cold, however, they will start moving indoors. You definitely don’t want to have to deal with a broken window, a damaged roof, or a pest infestation when in freezing temperatures. As if that’s not bad enough, your own insurance company could use these issues to deny any claim you file.

Winterizing a vacant rental property can be a time-consuming but necessary task. But you don’t have to do it alone. At Real Property Management Chicago Group, we help rental property owners like you keep their rentals ready for whatever Mother Nature may bring. To learn more, talk with one of our Skokie property managers by calling 312-265-0660.

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Get Organized

One of the best ways to help your move go well is to start planning and organizing as early as possible. You can start by organizing your furniture and personal belongings, as well as identifying the other tasks that need to be done. A pre-move checklist is also helpful so you can ensure that your new home is ready when you arrive. You may need to transfer or set up utilities, internet, or cable television service.

Transferring these services usually requires advance notice up to a few weeks ahead of time. Another tip is to keep all your receipts and records from the move in a file folder or Google document to keep them all in one place. All contact information, confirmation numbers, and other important details should be saved in this file in case you need them in the future.

Hire Wisely

If you are only relocating locally, you might be able to manage the move by yourself. However, if you are moving across town or the country, it is a good idea to hire a professional moving company to help you. Make sure you choose among reputable businesses as you plan your move. Secure multiple quotes from different moving companies, and compare them well. Some companies offer an hourly rate or leave some things off their quote to make it look more competitive, so make sure to ask a lot of questions and ask them to include all charges. The farther away you will be relocating, the more important it is to entrust your precious belongings to a company that deals with clients honestly.

Purge & Document All Items

One of the major concerns that come up when people plan to relocate is packing. To make your move easier, take time to go through your possessions and segregate things you could easily replace or that would be too difficult or expensive to move. By reducing the number of items you need to pack and move, you will have a more efficient moving experience. After doing that, you can proceed to document your belongings as you go.

As soon as you begin packing, keep track of the contents of each box by writing it down on the box itself. Keeping track of which box holds which will be easier. It may seem tedious but packing this way will make unpacking in your new home easier.

Pack an Essentials Box

While you pack, set aside an “essentials” box. It is wise to pack things you don’t use daily, but as the date of your move draws nearer, you need to think about what to do on your first night in your new home. You can make this a pleasant experience by creating an essential box to take with you.

Important things to put in an essentials box include phone or computer charging cords, toilet paper, paper towels, plates and utensils, garbage bags, and an emergency kit. You can also throw in a pair of pajamas for each household member, some blankets and pillows, candles and matches, as well as your favorite snacks and beverages.

Make a Plan for Kids & Pets

Finally, relocating can be a stressful time. Have a plan to keep young children and pets out of the movers’ way. You might want to ask a friend or family member to keep an eye on them during the actual move to help reduce anxiety and keep them out from underfoot.

It is a good idea to have a child pack their things the day before moving, then have them fill a suitcase or box with their favorite toys to alleviate fears of leaving something behind. Your pets also need to settle into the new home so do not forget to pack their food bowls and pet food in your essentials box.

Is relocating to a new rental home in your future? Trust our professional Warrenville property managers to steer you in the right direction. Real Property Management Chicago Group staff are the local experts, offering quality rental homes that fit your needs. Check out our listings online.

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Non-Renewal Vs Eviction

The first thing to remember is that non-renewal is different from eviction. Eviction is the legal process through which a landlord may remove a tenant from a rental property. This process usually begins when the tenant is found to have violated one or more of the terms of their lease and typically requires legal filings, court hearings, and a legal order that is perfected with law enforcement removing the renter from the property.

On the other hand, non-renewal does not mean you are forcing the tenant out. It is a choice not to renew the lease at the end of the lease term. That does not mean, however, that a landlord can just wait until the end of the lease term and then ask the tenant to leave. Similar to eviction, a successful non-renewal process must also follow the laws and regulations in your state.

As there are different laws governing rental properties and leases in each state, it is important that you know what steps to take to ensure that your non-renewal is in accordance with the law.

The Non-Renewal Process

A notice advising the tenant that their lease is not being renewed usually kicks off the non-renewal process. The intent of this notice is to let your tenant know that there will be no renewal at the end of their current term.

Each state has different requirements for how far in advance of the lease end notice has to be sent. You will have to check on your state’s requirements on the timing of non-renewal notices. There are some regions that require the notice to be sent 90 days in advance. Other regions could require only 30 days. While you probably don’t need to give a reason for the non-renewal, the notice must typically be delivered in writing, and in some states, must be sent through certified mail or another signature-based service. You have to be certain about what the law in your state requires so you could follow the applicable regulations.

It is also important not to use non-renewal for situations that require an eviction, change in lease terms, or raising of the rent. Most places make it illegal to use a non-renewal notice to manipulate or force a tenant out. It could turn into a costly lawsuit, especially if the tenant feels you failed to give them adequate notice or that their lease was terminated in violation of local law. You can avoid legal headaches like these by strictly following the local statutes.

It also helps to have good communication with your tenant before and throughout the non-renewal process. You have to keep your professionalism at all times even if your tenant feels upset or hurt by your unwillingness to renew their lease. When you show your tenant you care about them, even if you need things to end, you can potentially keep retaliatory damage or other unwanted behaviors at bay, and part with your tenant on good terms.

If you want a smoother non-renewal situation, it is best to hire an expert to do it for you. At Real Property Management Chicago Group, our Skokie property managers can help you navigate through the changes in your lease, ownership status, or repairs. Learn more by contacting us online or calling at 312-265-0660 today.

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Cooling System

Once temperatures have dropped enough that your air conditioner is no longer needed, it’s time to winterize it for the season. This allows for the unit to be protected and improved to maintain its performance. Prepping an AC unit for winter is easy: clean off the condensing unit with a spray of water, let dry, and then cover the unit with a breathable, waterproof cover. Remember to close and cover the vents if you have a window unit.

Heating System

With winter approaching, it’s important to fire up your furnace for a test run long before you need it. This can be done by simply turning on the furnace to check if it still works. Also, be sure to replace your air filters, clean and open all heating vents, and check for any obstructions. For any issues that you might notice, bring them up with your landlord as soon as possible.

Fireplace

If your rental home has a fireplace, it’s possible that you might need to prepare it before you use it. Make it a point to clean your chimney, for example. If it isn’t clean, tell the landlord so you can request a cleaning to be scheduled. This is key especially if you think that birds, mice, squirrels, or other animals have made a nest inside. Then, remove any flammable objects from around the fireplace opening and check that the damper is working properly.

Plumbing

It’s normal to have frozen water pipes in freezing weather. To help keep your home’s pipes from freezing, take steps before cold temperatures arrive. Check the basement, crawlspace, attic, or exterior for exposed pipes. Then, wrap any pipes with foam insulating sleeves. As needed, exterior faucets, hoses, and sprinkler systems should be drained, disconnected, and covered. These are just a few steps you can take to make sure that your plumbing functions correctly all throughout winter.

Windows & Doors

It’s a common issue to have to deal with drafts and air leaks when temperatures drop low. If you want to handle them before they become major problems, make sure to check your home’s doors and windows for gaps, cracks, and air leaks. Generally, air leaks around doors and windows can be fixed with some caulk or weather stripping. If the air leaks don’t point to an apparent source, it should lead you to reach out to your landlord so that it can be checked by a professional.

Yard & Patio

And, remember to get your yard, patio, or deck ready for the winter, too. Autumn is a fantastic time to trim back trees and shrubs, clean up fallen leaves, and mow the lawn one last time. Also, don’t forget to cover and store grills, patio furniture, cushions, hammocks, and other warm-weather furnishings. Don’t let snow or cold weather damage your outdoor furnishings – keep them in good condition by not neglecting them!

Yes, preparing your home for winter can be very intimidating; but, it will be so worth it when the cold temperatures come. However, if you can’t bear the thought of having to go through another winter in your current rental home, then maybe you should consider moving. Check out the available rental listings that Real Property Management Chicago Group has to offer.

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Pros: Sprinkler System Benefits

There are a ton of good reasons to consider having an automatic sprinkler system installed for your rental property. Maybe the biggest reason would be knowing that the lawn and other plants will be watered consistently. Everyone knows that a rental property’s value and curb appeal depend on having a neat, healthy-looking yard. Resting in the knowledge that your rental’s lawn and plants are being watered accurately and consistently can help ease the burden for both you and your tenant in terms of property maintenance. Aside from the relative ease of automatic watering, you do not need to keep remembering if it’s been done or not.

Some other important benefits to remember include the possibility of lower utility bills and a boost in your property’s resale value. Using an automated sprinkler system the right way can help save on the water needed to keep your yard vibrant and healthy. This is true especially if you have the right size and kind of sprinkler heads for the various areas of the yard that will need water. Through watering the plants as needed, you can save a lot on your water bill each month.

When you sell your property, a sprinkler system can be a huge draw for buyers. The reason for this is that only a few people can stomach the hassle of placing a sprinkler system. So if you have one ready, you may be able to sell your property for a higher price.

Cons: Sprinkler System Drawbacks

However, along with all the pros, you should get to know the potential downsides of purchasing a sprinkler system. For example, the cost is for sure a big reason why a property owner would think twice to install a sprinkler system. Depending on the size of the yard and what kind of sprinkler system it will need, the installation cost can cost you thousands of dollars.

If you are someone who can do the work by yourself, then you can save money. However, you should be sure to have the time to quickly do the job. You also need to be sure that you’ve got everything you need so that you can plan and install the entire system without being a bother to your tenant if you have one. Otherwise, hire a professional to do it for you.

Along with the initial installation cost, you’ll need to consider and budget for the ongoing maintenance and repair costs associated with a sprinkler system. Like other aspects of your property, a sprinkler system will need to be maintained to keep it in good condition year after year. If your property is in a location with freezing winter temperatures, you’ll also need to winterize your system every year or risk burst pipes and flooding.

At the end of the day, you get to decide whether your rental property needs a sprinkler system. But with the correct data and perhaps some expert advice, that decision can become less complicated. Consider giving Real Property Management Chicago Group a call for advice about property upgrades, maintenance, and other related topics. Our Palatine property managers are ready to assist you and keep your rental property profitable month after month, year after year. You can reach us at 312-265-0660 or contact us online.

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Set Up a System

First of all, you have to find a place to put everything before you start clearing off your desk– or your desktop computer for that matter. That is why creating an organizational system is an important first step. If you are working with a lot of paper, that system should include things like an inbox, a file rack for open projects, file storage for completed work, a recycling bin, and so on. On a computer, you can organize files and documents by date, alphabetically, chronologically, or other similar methods.

Invest in Storage

Even those who work online still need to keep a few important documents and papers in the office. Consider investing in some quality storage for your home office. A filing cabinet and some shelving are must-haves for any office. Take advantage of your home office’s vertical space so you have more storage options. Vertical shelves give you ample storage space without crowding your desk area

Go Digital

Do you feel buried under the paper? Why not try scanning them into digital files instead? There are software programs that allow easy conversion of printed documents, invoices, bills, and so on into digital files. A good quality scanner or all-in-one machine (printer, scanner, fax) will be a very helpful investment. You will also need a shredder to destroy any documents you don’t plan to keep.

Clear Away Clutter

One of the fastest ways to feel more organized in a hurry is to clear the clutter off your desk or other areas of your office. Make it a rule to keep your desk free from anything not related to your current project, including office equipment. If possible, also try to create a neatly organized area next to your desk, and move anything you don’t need easy access to into a different room or store inside a cabinet or boxes. It will be easier to focus on your work if your office is organized.

Re-think Your To-Do List

Another concern for home offices is keeping track of schedules and deadlines. Pick a system to keep track of all the things you need to remember and do. This system could be as simple as a desktop planner, or an app on your computer or smartphone. The most important thing is to pick a format for your daily to-do list that will work for you.

Make Time for Organization

Once your home office has been organized, the next challenge is to keep it that way from day today. An effective way to do this is to schedule time for it every week. Jot it down on your calendar like you would any other appointment or meeting. And then use that time to shred old papers, go through your inbox, or put away clutter. This is an easy way to maintain your home office to keep it ready for a productive work week.

Are you looking for an Orland Park rental home with a dedicated home office? Or do you need a new place to support you in your career? If a new rental home is on your to-do list, Real Property Management Chicago Group could help you cross it off. Check out our online listings for more information.

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Rental property investing is a business, and like many successful businesses, you need loyal and satisfied customers. When it comes to the business of rental real estate investing, your “customers” are your tenants and that signifies that caring about them and finding a way to keep them happy in your rental home is your priority.

Tenant Satisfaction: It’s Just Good Business

According to rental property owners, the most frequent cause of a large decrease in their annual cash flows is tenant turnover. Even if you own a vacant rental property for a short time, it will likely come with a long list of extra expenses, such as cleaning and repair costs to lost rent.

It’s possible that you won’t find a new tenant immediately, what with all the advertising costs, background checks, and other expenses connected to that process. Furthermore, your bottom line is further damaged because all of your rental’s ordinary expenses are not compensated by the rental income. If your tenants leave frequently, it will be less likely that you will see any profits from your rental property.

So how can you avoid this situation? By doing what you can to reduce or eliminate tenant turnover. Step 1: Find good tenants and follow that up with keeping them. A good tenant will not only respect and follow the terms of their lease but will do so with vigilance and common sense. Since the property’s condition is important to a good tenant, they will want regular communication to occur with their landlord, to give an account of any maintenance issues and raise questions.

And finally, a good tenant will unfailingly pay rent on time and in full each month, supplying you with stable rental income for the length of time they live in the home. When you encounter a good tenant, you should gently persuade them to stay in your rental home for as long as possible.

Valuing Your Assets

One way to encourage a tenant to stay in your rental for the long-term is to treat them with concern and respect. By doing so, your tenant will feel valued as a person. They would know for certain that they are not just a number on a balance sheet for you. Why is this good? Because, when tenants feel valued, they respond positively as well. They would respond by being more caring for their rental home.

As soon as possible, you can start making your tenant feel valued. Start building up that positive relationship by having regular, productive communication. When a request is placed for any repairs or maintenance work, be sure to respond quickly and appropriately. Also, see to it that you don’t go over the promised timeframe. Provide advance notice to your tenant when you have to enter the property. Also, see to it to ask for their schedule before you set any appointments for home services. There are some ways you can show respect to your tenant.

As an investor, you work hard to make your investment property perform well by the numbers. But as a landlord, tenants must be prioritized. This is how you can maximize your profits. By understanding that your tenants (not the real estate you own) are your most valuable assets, you can be more focused on the tasks that help you accomplish your property ownership goals.

At Real Property Management Chicago Group, we understand the value of tenants. That is why we offer Northbrook property management services that include finding and keeping good tenants for your rental homes. Would you like to learn more about what we have to offer rental property owners like you? Contact us online or call us at 312-265-0660 today!

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Start Packing ASAP

It is important to organize and pack your belongings as soon as you know you will be moving. Start with decorative or non-essential items, such as books, seasonal clothing, and home décor. There are many benefits of starting your packing process early. Aside from letting you spread out your packing sessions over days or even weeks, you will also have ample time to gather boxes and other packing materials.

Plan Ahead

A quick and efficient move is one that has been planned out to the last detail. For instance, you would want to verify the dates of your move, as well as guaranteed access to your new place. You can also schedule a moving company or helpers ahead of time to help with your heavy furniture. This will help ensure that you get the day and time that you want.

Another helpful tip is to employ a tagging system to keep track of what items are in which boxes. You should also set aside the stuff you use daily to box up last minute. Labeling your furniture and boxes according to which room they will go will also help you move in easier, especially if you have multiple bedrooms in your new place. This will make it easier for the movers to place things in the correct rooms without having to ask you.

Choose the Right Helpers

If your budget allows for hiring a moving company, it will really give you a hassle-free moving day. Many moving companies will even help you pack your belongings, move them to your new place, and then place and assemble furniture, if necessary. But take note that these services may cost you more, and no two moving companies charge the same rates.

It would be better to get quotes from different companies, check their reviews, and pick one that has good recommendations. If hiring a full-service company is not affordable, you can hire helpers or ask your friends, relatives, and neighbors to help. The more hands that can help, the faster and easier your move will be.

Meet the Neighbors

Loneliness and isolation are common feelings for someone who has just moved into an unfamiliar place. You can avoid feeling like this if you introduce yourself to your new neighbors. You can simply walk up to someone and say hi, or use an app to help you find and join neighborhood chat groups where you can introduce yourself.

Make Time to Celebrate

Moving to a new home is a major milestone. So why not celebrate? Do something fun after the last of your stuff is all moved in. You can invite friends and hang out at a local restaurant for a casual dinner. You can also see a movie together or host a game night. Regardless of the activity, make sure you have fun as you celebrate your move. After all, you’ve just accomplished something big!

Are you looking for a new rental home? We can help! Contact Real Property Management Chicago Group to view listings in Glenview or to learn more about your new city.

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1. Change Your Filters

Correctly and regularly change your furnace filters. If your filters are clogged, it could lead to poor indoor air quality and a decreased life span of your rental property’s furnace.

2. Clean Your Dryer Vent

You would not want to overlook your clothes dryer vents. Basic maintenance tasks must be done at least once a year since this is one of the top causes of residential fires in the U.S. A clogged dryer vent may not only be a fire hazard. It can also harbor unwanted pests and cause mold problems.

3. Relight the Pilot Light

Most property owners turn off the pilot light during warm months. You have to relight it and check if the system is working well long before cold weather arrives. You wouldn’t want your tenants sitting in the cold while you fix the furnace.

4. Drain Sediment From Your Water Heater

It is natural for sediment to accumulate at the bottom of every water heater. To extend the life of your rental property’s water heater and ensure that it is working properly, be sure to drain it once a year.

5. Look for Leaks

It sounds simple, and it is. Once a year, do a thorough visual check of your property’s plumbing, fixtures, sprinklers, and so on. Look for signs of leaks or pooling of water, and have these checked immediately.

6. Change Smoke and Carbon Monoxide Detector Batteries

Another important task you should do yearly is to replace the batteries in your rental property’s smoke and carbon monoxide detectors. Do not wait for the unit to fail and start beeping to save yourself and your tenant from having to deal with that headache.

7. Lubricate Garage Door Springs

Owners of rental properties with a garage should lubricate the springs and wheels of their garage doors at least once a year. Where a neglected garage door would fail after a few years, a properly lubricated garage door will work smoothly for many years.

8. Give Your Appliances Some TLC

Simple, basic maintenance done yearly can extend the life of your rental property’s appliances. Take your refrigerator as an example. Vacuuming the coils and cleaning the seals around the refrigerator doors will keep this important appliance lasting longer.

9. Clean Window Weep Holes

You might have noticed that your vinyl windows have a weep hole on the exterior. This helps drain away water and condensation. If left unattended, these holes can become clogged with dirt or insects. Flushing out the weep holes once a year will help keep condensation and moisture problems at bay.

10. Check for Pests

Finally, if you are not yet doing so, check your property for signs of pest infestation. Termites can start as a small problem. But it can become uncontrollable if left unchecked, causing damage to even your tenant’s things.

Property maintenance is an integral, but often time-consuming part of owning rental properties. Why not let the professionals handle it for you? Real Property Management Chicago Group offers a full range of property management and maintenance services provided by expert Evanston property managers, giving you total peace of mind that essential maintenance tasks are being done every year. Learn more by contacting us online or calling at 312-265-0660.

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Key Differences

To start, a real estate agent is a person who lists and sells properties for their owners. While some real estate agents specialize in assisting buyers to find and purchase investment real estate, the agent’s role is still centered on the sales transaction. The task of a real estate agent is dependent on the current housing market. As market conditions change, it is normal for real estate agents to find their business (and income) going up and down. There are times that real estate agents may help find tenants for a rental property, but their participation with the tenant and the property owner usually ends when the lease is signed.

On the other hand, a property manager focuses on helping property owners manage their rental properties. Each property manager can offer various services, but the bulk of their responsibility would be working on behalf of a property owner to oversee property maintenance and repair, tenant screenings, collecting rent payments, etc. A property manager is a contractual role wherein they are paid for their ongoing management services. This is different from that of a real estate manager. Property management is also not likely going to be greatly impacted by a shift in the housing market. In fact, property managers might observe that their workload would go up during market downturns as a lot of property owners turn to renting as another way to make income, rather than selling at a loss.

What Property Managers Do (And Real Estate Agents Don’t)

Beyond the fundamental differences between a real estate agent and a property manager, there are some tasks top-rated property managers do that real estate agent and other property managers usually don’t. Even though a real estate agent and most property managers will advertise rental property in order to find new tenants, not all of them will screen those tenants for potential red flags. After a tenant has been screened, a good property manager will begin building rapport with the tenant by having open communication and discussing the lease documents in a clear way. In addition, a good property manager will schedule and perform regular maintenance on a property and manage emergency repairs and tenant complaints.

Helping property owners analyze the local market, providing an accurate rental rate, and offering suggestions on how to maximize a property’s earning potential and your property’s resale value are some of the less common but valuable services that a couple of property managers give. Further, they may help you find and compare additional rental properties. They may even offer you properties that are not yet on the market. These are not common services among most property managers. Usually, only the top in the business will closely work with rental property owners to assist you not just manage property but build an investment business.

The Value of a Great Property Manager

Real Property Management is the country’s top property management company. The reason for this is that we can give a full range of services that rental property owners and investors need to reach their financial goals and dreams. Our experts will assist you in setting an accurate rental rate and keep costs down by using our preferred home services vendors. This is why most of our clients will say that value of our services far exceeds the cost. And these are great finds that you can’t find just anywhere else.

To learn more about Real Property Management Chicago Group’s services, contact us online today!

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The question of how to maximize profits, for the majority of investors, boils down to two key options: selling versus renting. In this article, we’ll take an in-depth look at how real estate investors are profiting from both and which may be the preferable option for different investing styles and situations.

Selling as an Investment Strategy

An effective way to profit from rental properties is to buy with a plan to sell. From the start, having the endgame in mind for all of their investments is what investors need. Selling as an investment strategy allows the focus to shift from buying properties to hold and rent to buying properties that you plan to sell within a shorter amount of time. “Flipping” a house means buying, renovating, and selling the property quickly. This is a common way to prioritize selling as an investment strategy.

But flipping houses isn’t the only strategy investors utilize to profit from rental real estate. There are investors who will find bargain properties that need only minor updates, and that would be enough to make great rental homes. Suppose the value goes up, either due to improvements or market appreciation, or both. In that case, they turn around and sell the property as a rental home to other investors.

Occupied rental homes can often be successfully sold as turn-key business opportunities for those searching to include in their investment portfolios without all the hassle of obtaining a property ready to rent. This strategy, of course, will only work if the purchase price is low enough or the market appreciates fast enough to cause the desired return.

Renting as an Investment Strategy

Another common investment strategy to gain income from real estate is to buy properties to hold and rent. This approach is generally viewed to be a much more effective strategy for long-term wealth building. This strategy allows investors to profit from rental houses by collecting rental income every month and then again when the property is eventually sold. Although the year-over-year financial gain might not look as big as the proceeds from a sale.

The financial gain from the sale of a long-term rental is more or less going to be higher since any debt against the property will have been paid down over time. But this depends on how long you hold the property and how well you evade any severe economic downturns. Buying to hold and rent is presumably the best option if you have the time to hold property and prefer stability over quick payoffs.

Invest Like a Pro

Likely the biggest reason some investors don’t find the buy-and-hold strategy preferable is having to manage tenants. It has often expected that rental homes are managed by property owners, and a lot of them are not professional landlords and have little property maintenance skills. Though as Glenview professional property management companies have been getting bigger and improving, more and more investors are looking to the experts to help them expand their profits. If the only reason you want to sell investment property is that you’re worn out from dealing with bad tenants, it may be time to hire a professional Glenview property manager to do the job for you.

At Real Property Management Chicago Group, we make certain rental property owners like you build real wealth through real estate investing. To learn more about the services we offer, contact us online or call us at 312-265-0660.

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A Legal Basis for Eviction

For a lot of rental property owners, the concept of unlawful detainer will not usually become relevant unless they need to evict a tenant. While it does give landlords the means to sue for a tenant’s removal, unlawful detainer is not the only legal basis for eviction. Evicting a tenant is always a delicate matter, and there are certain rules and regulations mandated in every state that must be carefully followed. A landlord cannot simply kick a tenant out for any reason once he or she has possession of the property. This includes not paying rent, violating the lease, or even canceling the lease. Instead, it’s essential to carefully document the situation and know your legal basis for eviction before making your case to the appropriate local courts.

Unlawful detainer can be relevant to a number of situations. To better learn more about the three most common ones, keep reading.

Example 1: The tenant refuses to leave after the lease ends.

If a tenant refuses to move out even after the lease has expired, this is the time when you might want to use an unlawful detainer to evict the tenant. You are not able, legally, to pressure a tenant to move out once their lease ends. You may be sued by your tenant if you do anything illegal, like changing the locks or calling the sheriff. Instead, in the event you have a tenant who refuses to move out, you should document the situation and file a petition with the local court. You must also make certain that your tenants are provided with the court documents. From that point, you are required to follow the eviction process given by the court system to get a judge’s ruling before proceeding with the rest of the eviction process.

Example 2: The tenant stops paying rent.

Another typical reason to use unlawful detainer to evict a tenant is when they cease paying their rent. There are several reasons why a tenant does not pay their rent. However, this is still a common occurrence. Some tenants may either be waiting for their paychecks or have simply forgotten. However, you may need to resort to eviction if ever your tenant does not pay their rent after you have provided multiple reminders and requests. If that happens, be sure to thoroughly follow any grace period provided in your lease and give your tenant one more chance to pay. If you’re not going to do this, your petition may not be successful in court

Example 3: The tenant refuses to leave after the landlord terminates the lease.

If your tenant will not move out even after you have terminated your lease with them, then an unlawful detainer may occur. From a tenant violating one or more terms to other reasons, there are multiple reasons why a landlord may terminate a lease. If your tenant will not leave and you need to terminate the lease, you can use the legal basis of unlawful detainer to petition the court to authorize them to move out. Mainly, be sure to document everything and follow the legal process step by step. Yet, the event of unlawful detainer is no reason to violate a tenant’s rights.

You will usually get a writ that gives your tenant one more chance to leave your rental property voluntarily, once you have the court’s judgment. You will not be the one to deliver the writ to your tenant. In most states, this will be given by the local law enforcement. You can then ask the aid of law enforcement, with a judgment and writ in hand, to remove your tenant and get your property back.

Even though they are a usual part of owning rental property, evictions are a time-consuming legal process that can easily become a serious difficulty. If you have a tenant who refuses to leave or is in violation of their lease, give Real Property Management Chicago Group a call, and we can assist you. Getting your property back as quickly as possible is something our professionals can help you with. They can help you carry out the eviction process safely and legally. To speak with an Evanston property manager, contact us online or call at 312-265-0660 today!

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To provide a sense of security for your tenants, you have the crucial task of carefully preparing your property to make it liveable. This may include getting insurance for your property as well as doing routine maintenance and repairs. At Real Property Management Chicago Group, we make sure due diligence is present in every aspect of how we function. As a matter of fact, nationwide, rental property owners place their investment properties into the safe hands of their local RPM office. This is because their approach to due diligence makes them stand out compared to others.

Preparing a Property for Tenants

We start with helping rental property owners get their property ready for their tenants. In order for your property to meet the legal definition of “habitable”, due diligence is carefully done to make sure that you have all you need to keep liability at its lowest.

Comprehensive property assessments are being offered by Real Property Management Chicago Group. This allows you to see a detailed view of your property’s current condition. A rental should be in the best condition so that your tenants can live there safely. This is why we inspect your property to find out if there is anything that needs to be done. On top of that, we will help you get suitable landlord insurance and provide high-quality, detailed lease documents that clearly outline the terms of your agreement with your tenant. Through this, we help you minimize risk as well as the potential for dispute or confusion in the future.

Tenant Screening

One service Real Property Management Chicago Group provides is careful tenant screening. Once your property is ready to rent, the next phase is to look for the right tenant. We are dedicated to finding a tenant who will take good care of your property. We have a multi-step screening process that verifies each applicant’s background and financial stability. We also call up past landlords and references. To prevent having issues with tenants, it is important to follow proper due diligence when it comes to tenant screening. In this way, you protect yourself as well as your investment property.

Preventive Maintenance

We have a unique setup in terms of property maintenance and repair- this is what sets Real Property Management Chicago Group apart. We take extra care to get your property ready for each tenant. We believe that all rental properties need to schedule and perform regular preventive maintenance. Being proactive with property maintenance allows one to avoid unexpected and pricey repair bills. Helping you plan and budget for property updates and renovations is something we also do while making certain that we prolong the lives of your appliances, HVAC, plumbing, and more. Through looking at property maintenance from a place of due diligence, you may be able to save money on repairs and reduce tenant turnover.

When you entrust Real Property Management Chicago Group with your rental properties, you are getting services that go above and beyond the industry standard. Our Arlington Heights team of property managers works with rental property owners like you to safeguard your important investment and support you as you seek to build your investment portfolio. Contact us today to learn more or give us a call at 312-265-0660.

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1. Blocked Registers and Vents

If your tenants are muttering about the inefficient heating or cooling in the rental home, your initial move should be to establish whether the registers and vents are blocked. Airflow issues are created when furniture, home décor, and storage boxes create a barricade obstructing registers and vents. By tidying up the neighboring area around each vent and register, you can enhance how your HVAC system works.

2. Dirty Filters

An additional problem with HVAC systems is that filters are not being swapped out often enough. HVAC filters aid in maintaining the correct air circulation by preventing debris and dust from getting into your ducts and equipment. If the filter is clogged by dust, the HVAC system has to work harder to heat or cool the home and internal parts could even be marred in the process. The remedy is straightforward: verify that the filter is being changed pursuant to the manufacturer’s instructions. Whereas numerous systems have a need for a new filter every three months or so, a few systems may require the filters changed as often as once a month.

3. Obstructed Condenser Unit

One frequent basis for an HVAC system that is losing efficiency is when leaves and debris have gathered around the unit, obstructing the condenser. An obstructed condenser unit can result in your HVAC unit overheating, which will ultimately damage it. In order to correct the matter, clear out the vicinity around your HVAC unit, including any leaves or debris that may be adhering to the exterior.

4. Dirty Coils

Just like the condenser, an HVAC system depends on condenser coils to operate correctly. Time and again your HVAC system will overheat when the coils get dirty. This is because your unit cannot maintain good airflow in that condition. Thus, it’s imperative to have your condenser coils cleaned frequently, usually once or twice a year.

5. Dirty or Leaky Ducts

If your HVAC filters are not replaced frequently, dust can accumulate in the ductwork, lessening the area for air to flow. In older houses, you can expect the ducts to have become dirty or leaky because of rodents, insects, or cracks and holes. Each of these setbacks could very well reduce airflow and cause your HVAC system to no longer be efficient. To safeguard that your ducting isn’t the cause of the dilemma, check it often and have it inspected and cleaned when needed.

6. Slow Blower Fan

Each HVAC system employs one or even multiple blower fans to push air all over the rental house. Should there be a problem with the blower fan, it’s possible that it will produce airflow issues rendering your HVAC system much less useful. By and by, fans can become worn or end up coated in grime. The remedy to a slow blower fan is to be sure to have it inspected and either cleaned or replaced immediately.

7. Leaking Refrigerant

If you have an HVAC system that’s older or wasn’t maintained too well, then you should inspect it for a refrigerant leak. A refrigerant leak could lead to airflow problems and also trouble cooling the space. This problem can’t be noticed immediately because it develops slowly as the refrigerant leaks out. To solve the issue, have your unit inspected and repaired by a qualified HVAC technician.

8. Faulty Thermostat

Sometimes, it’s not the HVAC unit that’s causing the problem. Instead, it’s the thermostat that may be faulty. When a thermostat malfunctions, it can make it more difficult to hold a comfortable temperature. This would force your HVAC unit to work harder than it normally should. So, if you’ve had problems with your HVAC unit and no issues can be found, be sure to have their thermostat inspected as well. It may be that all the system needs are to have the thermostat replaced.

9. Wrong Size Unit

HVAC units, just like rental homes, come in many different sizes. It’s important that you match the right unit size to your space. Units that are too small won’t efficiently heat or cool your property. Units that are too big, likewise, would cycle on and off too frequently– leading to stuffy interiors and high levels of humidity. To fix this issue, have an HVAC expert assess your space. Let them look at your heating and cooling needs and make a recommendation on whether or not you need to replace your current unit. It would be best to have the right size for your Chicago rental property.

10. Outdated HVAC System

Lastly, another common HVAC system issue is the age of the unit or ductwork. In many cases, they are just outdated. This happens more with older homes that underwent renovation. More specifically, those houses that didn’t update the HVAC systems together with the rest of the house. To get the best airflow (and efficiency) of your HVAC unit, try asking an expert about updating the ductwork. You may find that, in some cases, great improvements are because of a simple change.

When regular, professional maintenance is done to HVAC systems, a lot of common issues could be prevented. But scheduling the HVAC maintenance could be a hurdle. It may seem easy and straightforward now, but in reality, it isn’t. In reality, there would be a lot of other tasks vying for your attention that you could easily forget about the HVAC system. Instead, why not entrust the care and maintenance of your rental properties to the Chicago property managers at Real Property Management Chicago Group? We help rental property owners like you keep your HVAC systems in good condition, saving you money by extending your unit’s useful life and keeping your tenants comfortable in the home year-round. To learn more, contact us online or call us at 312-265-0660 today!

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1. Regular Property Evaluations

A really great way to develop a maintenance system that prevents your costs from getting out of control is to know every detail of your property. To do that, you have to perform regular property evaluations. You can do this by yourself with the use of a detailed checklist. Or, consider hiring a professional like the experts at Real Property Management Chicago Group to do it for you. Whatever you decide to go with, you will still need to examine and document the condition of your property. In so doing, you can develop better plans and budgets for maintenance issues.

2. Preventative Maintenance

You can save a lot of money by doing preventative maintenance. If you want to reduce maintenance costs, be sure to have regular maintenance performed on your rental home. An annual tune-up on an air-conditioning unit is very cost-efficient, and it extends the lifespan of your unit. When you keep the unit running longer, the less likely you’ll need to replace it sooner. The same thing is true for your plumbing and electrical systems, pest inspections, and other types of preventative maintenance. Motivate your residents to immediately report problems the moment they’re noticed. Then, quickly send a qualified professional to do a thorough inspection. By spending a few dollars now, you can save yourself from even more costly repairs later on.

3. Have a Backup Ready

Still expect, though, that no matter how good the preventative maintenance, things will eventually break. It’s a good idea to have service providers at your disposal the minute you need repairs — especially if it’s a major repair. Should the need arise, you won’t be blindsided by any decisions that have to be made. What you can do is you can research service providers in your area, even if you aren’t in need of their services yet. Create a customer account with them, so that you can immediately tap them when the need arises.You can even negotiate with them if you make them an exclusive source of service for your rental property.When you have a backup ready, you lessen the chances of unforeseen expenses, keep your costs down, and avoid costly delays.

Property maintenance is a time-consuming job, especially when done comprehensively and correctly. Why not let a Lincoln Park property manager at Real Property Management Chicago Group do it for you? We have the expertise and preferential service provider rates that can help you keep your property maintenance costs down while also freeing up your valuable time. Contact us online or call 312-265-0660 for more information!

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1. Take Regular Walks

Sounds too good and easy, right? But, walking your pet every day – or more than once a day, depending on your pet’s breed and energy levels – is the best way to ensure that your pet stays healthy and active. Most dogs and many other pets enjoy time spent outside, even when the weather cools down. You can shield your pets from the cold by getting them coats or sweaters so that you can bring them outside any time of the year. And, don’t forget to schedule your walks during the time of day when your pet will be most comfortable. This may mean changing your walk schedule to accommodate warmer months as well as winter’s chill.

2. Set Aside Time for Training

Ensure the consistency of your training sessions. Teaching your pet a new trick or command is good for their mental stimulation and can help your pet expend any pent-up energy. Generally, pets love learning new things, so the training will be something enjoyable for them. Training encourages better behavior, even after your training session is over. Also, training can reinforce the bond between you and your pet.

3. Schedule a Playdate

Many pets are social animals. As such, they are capable of interacting with other pets, too! One thing you can do is to set a scheduled pet playdate. Dogs can get a lot of benefits from playing with other dogs, as they learn social skills and get exercise while chasing each other and wrestling around. It would do your pet well to have them go to daycare, even if it’s just a couple of days a week. If you’re just going to leave your pet at home alone, you might as well leave them at daycare to keep them active. This can do away with any unwanted behaviors.

4. Make Playtime More Fun

Many dogs love to chase balls or other toys. Look for a nearby dog park and teach your dog how to fetch. If there are no parks nearby, you can still make playtime more fun by creating games you can play in your yard or even inside the house. Hiding toys or treats for your pet to find, creating obstacle courses, and other creative games can help keep pets active in healthy play.

5. Invest in Quality Toys

Along with creative games, buying good quality toys is another great way to keep your pet active while indoors. Puzzle toys are great for dogs and other pets since they offer both mental and physical stimulation. Some dogs love to dig their snoots into a snuffle mat, hunting for kibble or tasty morsels deep inside. Also, why not let your pet have a treat-dispensing toy. Toys like these can help reduce anxiety and boredom and offer a fun way to keep pets active at the same time.

Whatever the excuse, if going outside is out of the question, stimulate your pet’s mind and body with an interactive toy. Fill a Kong with a tasty treat (like peanut butter!) or purchase a refreshing treat-dispensing toy that promotes long-lasting interest. These toys can also help fight boredom and anxiety and are a fun way to keep pets active.

Are you looking for a pet-friendly rental home in Skokie? Real Property Management Chicago Group can help! Contact us today or give us a call at 312-265-0660.

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Shut Off the Water

If you see or hear water coming from somewhere it shouldn’t, your first course of action is to shut the water off. If the leak is coming from a faucet or appliance, you may be able to shut off the water simply by turning the handle or powering it off. If the leak seems to be quite problematic, you might need to shut off the main water supply to the house. To do so, locate your water main shut-off valve. You can usually find it in the basement, utility room, or outside the home. Then, use a wrench and some pliers to turn the valve until the water stops flowing.

Minimize the Spread

Because you’ve already shut the water off, you can mop up any water that has leaked or pooled on the floor, under cabinets, or elsewhere. Use old towels and a mop to minimize the spread of the water and to dry cabinets, table legs, and other wood. You can use towels to soak up as much water as you can, should you find that your carpets and rugs to be soaked too. And then, you can open your windows and use a few fans to dry the rug as fast as possible. If you leave your carpet wet for too long it will produce mold, possibly damaging any furniture on top of it.

Call the Landlord

Get the water flow under control, and then call your landlord. Keep your landlord updated with the situation so that he/she knows what you’ve done to address the problem. If you don’t want serious damages to the property, deal with water leaks immediately. If you let that happen, you will be held liable for the damages. Calling your landlord to inform him is a wise choice so that any leak and/or damage is repaired a.s.a.p.

Practice Prevention

Ultimately, dealing with a water leak in your rental home requires proactive prevention. After you’ve determined the cause of the leak, make sure you take measures to prevent it from happening again. If possible, protect your drains and pipes from extreme temperatures, clogs, and other common mishaps. Make it a point to not lose track of your home’s regular maintenance. Then, if any problems arise, contact your landlord immediately. By fixing things before the pipes burst, you can do a lot to help prevent water leaks in your rental home.

Would you like to trade in your current Park Ridge rental home for one that is maintained year-round by qualified professionals? Real Property Management Chicago Group can help! Visit our website to check out our listings or give us a call at 312-265-0660.

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Pros and Cons of a Short-Term Rental

A rental with a lease agreement of six months or less is usually identified as a short-term rental. A common short-term rental that most people are familiar with is the month-to-month agreement. With this type of rental, the contract renews every month. There are numerous types of short-term rentals, with even some that occur weekly. For those renters whose situation requires a lot of flexibility, a short-term lease might be what they need. With this lease you can stay for a short while or move out immediately, should your circumstances in life change. Some short-term rentals will even add bonuses like internet service and utilities, however, not all short-term rentals provide these extras.

There are a few disadvantages when it comes to short-term leases, however. Your landlord can increase your rent and update policies and lease terms because your lease has to be updated more frequently. Short-term rentals are mostly more expensive than long-term rentals, primarily in areas where short-term rentals are in high demand. If your residency is in a vacation area or college town, it’s possible that there are more short-term rentals than long-term rentals, which will usually drive the rates for short-term rentals up.

Pros and Cons of A Long-Term Rental

Simply put; go with a long-term rental if you would rather not deal with the downsides of a short-term rental. Going long-term can also be quite advantageous. The most common lease length for long-term rentals is one year, but it can always be the difference per case. As a renter, a long-term rental can offer more stability in your rental rates and lease terms. After signing a long-term lease, the terms of that lease usually don’t change. Normally, landlords won’t want to raise your rent or do anything to change the agreement unless it’s time to renew. Long-term rentals are often more affordable than short-term rentals simply because it is more cost-effective for a landlord to lease their property for years at a time.

Regardless, long-term leases also have their downsides. After signing a long-term lease, it can be quite difficult to revoke it. If you want to end your lease early, your landlord will probably ask you to pay an extra month’s rent, and forfeiture of their security deposit. Thus, relocating to a new rental home will be quite a challenge. It might even prevent your housing costs from going down. Be advised, though, that most long-term rentals do not come with extra services or appliances. Utilities, internet, and furnishings — these are all costs that you should expect to bear.

After going through the pros and cons of both short-term and long-term rentals, you can start to weigh out which one will benefit you the most. If you’re thinking of settling down for a longer period of time, then a long-term rental might be best for you. However, if you’re uncertain of where your life is going to take you over the course of the next few months, then you can opt for a short-term rental, instead. Still, having both options will be beneficial for you.

Real Property Management Chicago Group offers a variety of rentals that might be a perfect fit for you. Call us today at 312-265-0660 or check out our rental listings for more information.

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Parking by the Rules

No rental property is created equal. The availability of parking near or around your rental property is a different scenario. Always err on the side of caution and include parking clauses in your lease agreement with tenants even if your property is large enough to not have parking issues. The majority of leases specify the number of vehicles a tenant is allowed to park in particular areas of the property. Some leases refuse to allow a tenant from parking oversized or recreational vehicles on the property, such as boats and RVs. Depending on your situation, your lease can encompass more than that. Not all neighborhoods allow cars to park in their streets. It is beneficial for the tenants to know the areas where they cannot park such as in the yard, near dumpsters, or on an adjacent property. Review the parking rules and expectations with your tenants from the get-go so you can avoid parking issues in the future.

Parking Solutions

Sometimes, just giving parking rules to tenants seems to be inadequate. This is especially true if your rental property is located in the inner city where parking seems non-existent. Your tenants can still have trouble finding a place to park their vehicles even if your rental is not in the city. In such cases, you have to depend on your creative faculties and find a way to enhance your tenants’ parking options.

If your Orland Park rental property is a house and there is land around it, then you have several original options to consider. If there is no covered parking or no garage on your property, now may be the best time to install a carport near your house. Carports are low-cost undertakings yet they attract tenants like crazy to your rental home. What’s more, it could drive up your resale value. Covered parking is the stuff that makes a rental happen as renters are really drawn to it. But check the zoning laws in your vicinity before you start the construction project.

Now if your carport is just not a good fit for your rental property or a big driveway is not present, a cheap and creative way to add more parking is to create an adjacent paved or gravel area that will be exclusive for parking vehicles. This area could be anywhere near the property and you don’t need to go all out on this. But do not neglect your valuable curb appeal. Turning a front yard into a parking lot is a turn-off to some tenants. Look for other areas on your property instead.

For rental properties with small yards, small driveways, and narrow streets, you have to get your thinking caps on to get good parking solutions. One alternative would be to rent parking from a neighbor or a nearby parking garage. If there is a property nearby that’s not being used, you can have it leased for your tenant’s use. Also, you could ask your tenants to store their extra cars somewhere and then offer them public transit passes thereby reducing the cars on the property.

Making sure that your tenant’s needs are met may sometimes be taxing to property owners. Real Property Management Chicago Group is a skilled and experienced professional who can offer solutions to your parking issues. Contact us for more ideas about how you can make your Orland Park rental property more appealing to renters while still offering what they need to live in comfort.

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Walk the Neighborhood

If your move is taking you to a new area, it’s important to get a sense of how pet-friendly your new neighborhood will be. You want to make sure that the area of your home is one that’s safe and suitable for your pet, too. While walking, be on the lookout for any potential problems you might encounter in the area. If you own a dog, for instance, you will most likely need to walk around your neighborhood. There could be unfriendly neighborhood dogs or other pets running loose. If this is not something your dog is used to, it could pose a problem.

On Moving Day

When the day of the move finally comes, it’s imperative that you have all of the logistics of moving with your pet nailed down. Packing and moving can be stressful, but there’s no need for these to generate fear and anxiety for you and your pet. When cats and dogs are fearful, they will become difficult to deal with. To keep their anxiety low, plan to put your pet in a secluded, quiet area like an unused room or yard. You might even think about boarding your pet or having a friend take them to a different location to keep them away from the hustle and bustle of moving day.

Transporting Your Pet

Your pet is also moving to a new home, right along with you and your furniture. Make it a point to take some time to acclimate your pet to the unavoidable trip to their new home, especially if your pet has rarely been in a crate or vehicle. Introduce your pet to a crate before the move so that it can get used to moving in and out of it. Use treats to help them form positive associations with the crate. You can also add blankets inside the crate to lessen bumps on the go so that your pet is comfortable all the way.

Coming Home

Before finally allowing your pet to roam the new home, make sure there are no open windows or poisonous house plants, or any other hazard available to your pet. When you finish checking and maybe even settle yourself down, you can then introduce your pet to the new home. Be sure to help your pet acclimate by offering encouragement and comfort. And, you could also make it a point to go out with your pet so that you can explore the new neighborhood. Doing this can help in familiarizing the new environment so that your pet can find its way home in case it escapes or wanders off.

Yes, moving with a pet comes with challenges, but with these simple steps, you can make that move to a new home a successful one. Are you in the market for a new pet-friendly rental home? Real Property Management Chicago Group can help! Check out our great rental home listings in your area.

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1. Daylight boosts your mood.

Sunlight is like a happy pill. Sunlight produces more serotonin, a natural chemical in the brain that makes you feel good. But natural light is advantageous for your mood in other ways, too. Since natural light is scarce in the winter, you need to go outside to get what’s left of it. When venturing out is not possible, just stay on your porch, balcony, or yard on a sunny day, it would be enough to make you feel cheerful.

2. Sunlight helps prevent disease.

When your skin is exposed to sunlight it triggers the creation and activates the vitamin D In your body. Studies have shown that a lack of vitamin D can lead to a wide range of serious mental and physical health issues, from depression to osteoporosis. If you spend some time in the sun, your body’s ability to fight off diseases such as cancer or heart attacks is greatly increased.

3. Spending time outdoors can improve your memory.

Another advantage of being outdoors is that walking can improve your memory. Do walks around the park where you can find natural scenery. Studies have shown that communing with nature improves recall by 20%. This is not achieved by walking around on city streets. Lacking access to green spaces? Don’t worry as physical activity outdoors still relieves stress and improves concentration.

4. Going outside is good exercise.

Stay away from the couch or the kitchen if you want a healthier lifestyle. That means that people who spend more time outdoors get more exercise. Even a brisk walk around the block or the local park can make a big difference in your physical strength and endurance. Consistency is key. Find an outdoor activity that you enjoy and can do all year round.

5. Sunlight boosts your immune system.

During the wintertime, do you usually get the colds or the flu? The answer may lie in not getting much sun during these months. There are studies that prove that spending time outdoors relaxes your body and lowers your stress hormones, this, in turn, increases your immunity. There is a belief that the cold can let you catch a cold. Not true. Doing physical activity outside is good for you as it prevents you from seasonal illnesses because the activity flushes away bacteria from your airways.

It may be cold outside but it’s not an excuse to miss the winter sun.

Are you looking for a Glenview rental home with parks and other amenities nearby? We can help! Contact us today online or call us at 312-265-0660.

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Perhaps the number one advantage to owning a short-term rental property is the possibility for higher rental income. Short-term rentals more often than not rent for more per day than a long-term rental would. So if you can keep your property rented out, you could make quite a bit more each month than you’d get from a long-term lease. Short-term rentals let you increase prices at times of high demand, granting you to maximize your profits.

Another great benefit of owning a short-term rental is that it offers a lot of flexibility. Depending on which way you go about it, you could be renting your property a week at a time or for several months. If your rental property is in a nice vacation spot, you could make use of any vacancies as an opportunity for a personal getaway. You can also easily set your property upon rental platforms like Airbnb, and that means never dealing with leases. You can also remove your listing from those sites at any time should you want to transform your property back to a long-term rental.

Then again, there are a few drawbacks to owning a short-term rental. Even If there is frequently a good potential for higher income, at the same time, that income is a lot less stable. Most short-term rentals experience seasonal fluctuation, which means your property might be sitting empty a lot more than you would like. While good marketing and creativity could help you avoid this, it’s important to remember that even your best efforts may not be enough. Short-term rentals are extremely sensitive to economic conditions, and economic downturns often result in less demand.

Another important drawback of short-term rentals to bear in mind is that you will have higher costs. Preparing a short-term rental could mean requiring you to furnish it and stock it with essentials. If you want your property to be competitive, it will need to have nice furnishings and décor. You’ll also need to make sure that your tenants have things like linens, toilet paper, pots and pans, and more. These items will also have to be re-stocked between tenants, which can start to add as time goes on.

There will also be more cleaning and maintenance required for a short-term rental. If you’re doing it yourself, getting the place ready for the next tenant will take quite a bit of your time. But hiring someone to do it for you could get costly, particularly if your property is in high demand. It’s critical to ensure that the place is being thoroughly cleaned between tenants and that necessary maintenance and repairs are being done correctly and promptly. Failure to do so might result in bad online reviews and fewer bookings in the future.

Finally, it’s essential to check state and local regulations on short-term rentals. Some cities have created strict regulations forbidding short-term rentals in some areas, and so have many homeowners’ associations. The reason for the restrictions will vary from one location to another – and even from neighborhood to neighborhood – it’s important to do your research before buying or converting a property to use as a short-term rental.

Need help managing your current rental property? Give Real Property Management Chicago Group a call at 312-265-0660. Or conveniently contact us online.

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A dishwasher with an unpleasant smell may be caused by several factors. But the most common offenders are food particles and dirty water getting trapped in the drain hose, drain filter, spray arm, or other areas. In addition to that, mold could be present if you don’t completely drain your dishwasher after each use. This could lead to a breakdown of your dishwasher and potentially causing health issues in your household.

To clean your dishwasher, strategically start in the drain filter. A clogged drain filter is synonymous with a smelly dishwasher. Find the drain filter, it is usually located at the bottom rear of the tub of your dishwasher. You need to pull this out so you can clean it with hot soapy water and a bottle brush. After that, check the drain to make sure it is clear.

Dishwashers with spray arms can get clogged and this is the second source of your problem. So, if you have cleaned the filter and yet the odor remains you should remove the spray arms and rinse them out. Food particles can get stuck in the holes, use a toothpick for this, then run water through the arm to wash them out.

The insides of your dishwashers, like drain filters and spray arms, should also be cleaned from soap scum and grime. This is why it is important to regularly scrub the interior of the dishwasher with hot soapy water, and don’t forget to include the door gaskets and racks. Another great way to clean your dishwasher’s interior is to run separate empty cycles with vinegar and baking soda. These natural cleaners work wonders.

To solve your smelly dishwasher problem, you need to run it twice. The reason is that these two cleaners should not be mixed in the dishwasher since it will cause a chemical reaction. For the first cycle, fill a bowl of white vinegar, place it on the top rack inside the dishwasher, then run a hot water cycle. If you happen to dislike the scent of vinegar, you can remedy this by adding a few drops of essential oil like lavender, orange, or lemon. Finally, prepare a cup of baking soda and place this at the bottom of the dishwasher. Then run a second cycle. At last, after completing these steps, your dishwasher should no longer have unwanted odors.

The problem is finally gone so you need to prevent it from coming back. Consistency is key, according to appliance experts, repeat the cleaning process mentioned above three or four times a year to keep your dishwasher running efficiently. But don’t limit yourself to that. Scraping and rinsing your dishes before loading them in the dishwasher can prevent food particles from becoming trapped in the first place. When you are using your dishwasher, make sure to avoid running other appliances that use hot water. You need to do this so that your dishwasher has all the supply of hot water needed to break down soap and food particles and make sure your dishes are cleaned thoroughly.

Looking for more ideas on keeping your rental house clean and odor-free? Visit our blog today, or if you’re in the market for a new Chicago rental home, take a look at our current listings.

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Among the most iconic pieces of Christmas décor is the fireplace mantel hung with stockings. But if your rental house doesn’t have a fireplace or a mantel, you can still use these elements in your holiday decorating. How about renting a freestanding mantel from a local events company for some weeks? When you position it against a wall or in a corner of your home, you can then take advantage of it as a focal point for your holiday decorating.

If renting a mantel isn’t what you want, there are other creative ways to hang Christmas stockings in your home. For instance, if you have a bookshelf in your living room, you could utilize weighted stocking hooks to set up Christmas stockings right along the front edge of a shelf. Think about lacing your Christmas stockings to the back of kitchen chairs with gleeful ribbons for a more personal touch and style. In this fashion, they’ll cheer up your dining area and, in all likelihood, begin a new holiday tradition. If chairs aren’t a solution, another way would be to hang stockings on a wall using removable hooks. These hooks will hold your Christmas stockings securely but then come off after the holidays without damaging the paint. Finally, for the creative DIY-er, you could create a freestanding post with hooks that can be placed anywhere in your home.

After the mantel and stockings, the Christmas tree is a top décor item for countless people. Doesn’t matter how huge or small your rental home may be, there are many ingenious ways to have a Christmas tree without the expensive price and mess of a live tree. If you have to have a tree, really think about investing in a small imitation evergreen tree. These little trees commonly bring with them lights already installed and can be placed on a tabletop. Easily incorporate your favorite holiday ornaments and delight in them! In contrast, if imitation greenery isn’t your style, have in mind using a houseplant as your Christmas tree on the other hand! A big potted plant can be hung with fairy lights and small ornaments, creating a festive display that will live on after the holidays are over.

Flowers and fresh-cut greenery are, furthermore, good options for renters who want to bring the sights and scents of the holidays into their home in a natural way. By way of example, you can frequently find cut boughs of pine, cedar, or eucalyptus, all of which smell fine and look attractive arranged on shelves, mantels, and in vases. You could even include a small string of lights to give a charming glow to your arrangements. And take into consideration poinsettias and other colorful winter plants. Those stunning red blooms can kindle cheer in any corner of a room and evoke bright holiday memories at the same time.

When you are decorating for the holidays, exterior décor can be another simple and great means to put a festive touch to your home. For lovely, damage-free decorating, choose really simple seasonal touches. A festive doormat, a beautiful wreath, and seasonal window clings can all transmit warm holiday wishes to your friends and neighbors. To hang lights or garlands, opt for temporary hangers that you can very easily put up and then take right down. Or, get imaginative with many shiny ornaments and fishing line. Drape colorful ornaments from a window or door frame, tree branches, or other exterior features to have a magnificent winter display.

Are you earnestly looking for a new rental home this winter? Real Property Management Chicago Group can definitely help! Don’t hesitate to browse our current listings or call us at 312-265-0660.

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Make Small Rentals Look Larger

Is your rental property on the small side? It can be a challenge to attract renters to a property that is lacking in square footage. Many landlords view this obstacle as something they can’t do much about, especially if the property in question is an apartment or condo. You may not be able to actually make it bigger, but you can make changes to give potential renters the impression of a larger space, which can be the key to getting a signed lease. Read on for some ideas to help make small rentals look larger!

Paint walls a light color

Choosing a light, neutral color to paint the walls of your rental will help give the impression of more space. Darker colors tend to make rooms feel smaller. Also, dark or bold colors are more likely to clash with a potential tenant’s decor. It is best to use the same color throughout the rental, rather than to use different colors in different rooms. Painting different colors in each room makes the rental feel as though it is divided into pieces – you want to go for a uniform color throughout to help renters view your rental as a whole space.

Be sure to also pay attention to the color of the ceilings, doors, windowsills and trim. You can achieve the largest look by painting the ceilings, doors, windowsills and trim a color that is lighter than your main wall color. If you have chosen light beige or off-white for your walls, consider white trim. The lighter colored trim makes the walls recede back visually, which will make small rentals look larger.

Update Kitchen Cabinets and Counters

Open shelving and cabinets with glass doors are very popular for a reason – they give the illusion of a larger kitchen. Consider replacing cabinet doors with glass. If the cabinets in your rental are a darker color, painting them lighter to reduce the contrast between the cabinets and the walls will enlarge the appearance of the whole kitchen. You can also install molding at the tops of cabinets to draw the eye upwards.

Take a look at your counters and flooring as well. Lighter colored ceramic tile, marble and other light materials will help to enlarge a small space.

If your rental’s kitchen is particularly small, removing a wall to create an open floor plan can help to create more space. Replacing older, bulkier appliances with newer, sleeker versions will not only make small rentals look larger, but will also go a long way towards attracting good tenants.

Make the Bathrooms Appear Larger

Adding extra lighting is one of the best ways to enlarge a small bathroom, along with installing larger mirrors at the sink. Avoid installing bulky sink cabinets and vanities – consider replacing those with a pedestal sink.

If the bathtub is enclosed with a shower door, consider removing it in favor of a shower curtain which can be opened and closed to open up the room. Especially if made of frosted glass, a shower door can make a small bathroom feel cramped.

Also, as with the other rooms, keeping the color scheme light in the bathroom gives the appearance of more space. Avoid bright or dark colors in the bathroom.

Take advantage of natural light

Photograph your rental for your listing on a sunny day with all the blinds open. Skip taking pictures on a rainy or overcast day, or at night, if at all possible – they will make your small rental seem dark and unappealing. If your rental has small windows or few windows, consider the possibility of installing larger windows.

If this is not possible, and for many landlords it is not, you can use lighting to illuminate your small space as much as possible. Use lamps in dark corners. Brighter is larger! Also, you should consider installing larger mirrors in bathrooms, or full length mirrors on doors. Avoid installing decorative mirrors permanently on walls, as these can clash with a prospective tenant’s taste in decor. You want the space to be as neutral as possible, to allow prospective renters to picture themselves living in the space.

Looking for a professional Chicago property management company to assist you with your rental properties? At Real Property Management Chicago Group, we can help you make small rentals look larger, and so much more to help you with your property management needs! Real Property Management Chicago Group has the expertise to ensure that you get the best return on your rental property investments. We specialize in rental property management in the greater Chicago area. Contact us today to find out more!

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Fall maintenance is a very important part of managing your rental property. As the weather gets colder, it’s time to think about how your rental property will weather the changing seasons. At Real Property Management Chicago Group, we have seen firsthand how important fall maintenance is to make sure your property is ready for the cold. Making sure your property is ready for colder weather is crucial to prevent many maintenance issues that can arise. Prevent problems before they start with these simple tips!

Focus on the Exterior

If your rental property is a single family home, ensure that the exterior is ready for colder temperatures.

• Look around the outside of the the house to see if any repairs to the siding, roof, gutters, or foundation.
• Seal any small gaps where animals might enter.
• If the driveway or walkway is in poor condition, snow removal will be more difficult. If these are cracked or crumbling, they can also become hazardous in icy weather. Consider repairing or repaving areas that need work.
• Make sure that any outside stairs have steady railings in case of icy conditions.
• Trim any surrounding trees or shrubs if needed. If any branches are hanging close to the house, remove them to prevent damage.
• Clean rain gutters of any debris, leaves or pine needles.

Check the Interior

These simple fall maintenance steps will leave you confident that the interior of your property remains safe and warm through the colder months.

• Is the furnace working properly? Consider having it inspected by a licensed HVAC technician or contractor. This is not a step to DIY unless you are licensed. Also replace filters if necessary.
• Inspect any fireplaces and have chimney’s cleaned to remove creosote build-up. Chimney clogs can lead to damage, and can even cause a fire.
• Check all windows to make sure they close fully, lock completely, and seal properly against weather. Any cracked panes will need to be replaced. consider applying weather stripping around the edges.
• Just like windows, inspect all doors that open to the outside to make sure they are secure with no drafts. Also, these doors might benefit from weather stripping.
• Is your property equipped with working smoke detectors and carbon monoxide detectors? Carbon monoxide is particularly dangerous in the fall and winter, because windows will be closed.

These simple fall maintenance steps can prevent many emergencies from arising during the fall and winter at your rental property. If you are looking for a property management company that is ready to do this work for you, contact Real Property Management Chicago Group today!

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Safely Enjoy Your Outdoor Barbeque

Grilling Safety Tips for Tenants

The weather is heating up and Memorial Day is right around the corner. It’s time to gather around the grill! When you’re renting, you need to pay special attention to grill safety and to the rules about grilling in your lease agreement to ensure that good times will be had by all. Here are a few grilling safety tips for tenants to help you enjoy your summer holidays.

Make Sure Grilling is Allowed at Your Rental

If you’re not sure whether your landlord allows grilling, the first place to check is your signed lease agreement. If you can’t find anything about grilling in your lease, it’s always better to ask your landlord than to assume it’s okay, especially if you’re renting a unit that is part of a larger building. Some HOA’s and condo associations have strict rules about grilling, and it may be prohibited for you to grill in certain areas, such as common areas or your balcony. Be sure of the rules first and get confirmation of what is and is not allowed. Receiving a hefty fine from your building’s association can really spoil your good times.

Don’t Use Outdoor Grills Indoors

Propane and charcoal grills should never be used inside the home, and should always be placed outside. Place your grill a good distance away from the home to avoid smoke damage and reduce the risk of a house fire. Also avoid placing your grill too close to any deck railings, eaves, and hanging tree branches. A good rule of thumb is to keep your grill at least 10-15 feet away from any building or car, and be mindful of wind-blown sparks.

Keep Children and Pet Away from the Grill Area

Make sure that children and pets are kept safe from the fire. Accidents can occur that can cause permanent injury or even death. Make sure that all your grilling implements such as metal grill spatulas, tongs, starter fluid and charcoal are kept out of small hands. Good supervision for children and pets ensures that the whole family will have fun.

Make Sure You Understand How to Use Your Grill

If you’re new to grilling, read the manual that came with your grill and make sure it is assembled correctly. Keep your grill clean and free of excess grease. Grease buildup can cause a fire. If you are using a propane grill, running the grill on high for about 5 minutes after grilling can reduce grease. So will a good scrub with a grill brush and soap.

Propane Grilling Safety Tips for Tenants

If you’re using a propane grill, you can check for propane leaks by applying some dish soap and water to the hose. Turn the propane tank on and looking for bubbles around the hose – if there are bubbles, you have a propane leak. Turn off the propane tank and check the connections. Watch this short video to see how it’s done: https://youtu.be/mpDhUssEgP0

If your propane grill has not been used lately, open the lid for a while before lighting the grill. This allows any gas that may have built up inside to escape.

If you ever smell gas while grilling, turn the grill off right away! Smelling gas is a sure sign of a propane leak. You may need to have your grill serviced by a professional to get everything sealed safely.

Charcoal Grilling Safety Tips for Tenants

If you’re using a charcoal grill, only use starter fluid that is meant for charcoal grills, and never add it directly to the fire. When you’re done grilling, let the coals cool completely and dispose of them in a metal container. Don’t ever try to move hot coals or a hot grill, and definitely never take them indoors.

Above All Else: NEVER Leave Your Grill Unattended and Keep a Fire Extinguisher Handy in Case of Accidents

Following these grilling safety tips for tenants will ensure that you have a great time outdoors at your rental this summer. And if you’re looking for a Chicago area rental with a little outdoor space this summer, check out our current listings! Real Property Management Chicago Group is a professional Chicago property management company that manages many single family homes, condos, apartments and duplexes in Chicago and the surrounding suburbs. If you’d like to learn more about what a professional Chicago property management company can do for you and your property, contact us today!

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Allowing Pets: Landlords Who Allow Pets Are Likely to See 20-30% More in Rent Than Those Who Do Not

Chicago, IL – Chicago landlords and investment property owners may be overlooking a way to increase their profitability by not adding pet-friendly units to their investment portfolios: allowing pets. A nationwide study conducted by FIREPAW, a non-profit organization dedicated to handling animal welfare services, found that property managers who allow animals in their rental properties are seeing an increase in their bottom line profits. Their research found that the biggest reason pet owners gave up their pets was housing issues where pets are not allowed. Even though pet owners are willing to pay more in rent to keep their animals, there is still a shortage of landlords willing to accept pets.

“Because of their ability to charge a separate pet deposit that can range anywhere from 40-85% of the rent up front, property owners who allow pets in their properties are seeing their bottom lines increase substantially,” said Lukas Krause, Chief Executive Officer of Property Management Business Solutions, the franchisor of Real Property Management. “Real Property Management encourages Chicago property managers to allow pets whenever possible as a means to assist them in achieving financial goals faster.”

The FIREPAW study also revealed that, on average, rental housing that allows pets will rent for a 20-30% higher rate than rental housing that does not allow pets. Other benefits for landlords that allow pets include:

• Longer lengths of tenancy – tenants who have pets prefer to stay in one place for a longer amount of time
• Lower vacancy rates
• Less marketing needed per unit
• More applications received per unit – fewer restrictions on tenants with pets leads to increased interest in your rental

Most Chicago investment property owners have concerns about potential damage to the property by allowing pets, the noise factor bothering other tenants who may not have a pet, and worries about insurance issues. While it is true that allowing pets does come with a few increased insurance costs, the relatively small costs are offset by the premium rent received by pet friendly housing. Some damage is reported by landlords who allow pets in their units, but the cost of the damage averaged $430 – usually far less than the deposit paid. Landlords can subtract these damages from that deposit and not be out any money. In fact, the data collected from this study shows the amounts of damage from tenants with pets is not much higher than that caused by tenants without pets.

FIREPAW works with landlords and property managers to help them maximize their profits while minimizing damages associated with pet friendly housing. The non-profit organization created a Companion Animal Renters Program (CARP) that offers economic assessment, needs assessment, tailor-made programs, customized pet policy, pet agreements, and a custom made pet perk package.

Real Property Management Chicago Group is the nation’s leading property management firm. With nearly 30 years in the Chicago property management industry. The company’s goal is to provide unrivaled customer service that save property owners time, money, and the headache often associated with Chicago property management. For more information on our services, visit our website.

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How to Attract Great Tenants

How to Attract Great Tenants

Every landlord who has made the leap to invest in rental property has a picture in mind of their ideal tenant, and can’t wait to see that excellent tenant living in their property as soon as possible, making regular rent payments and treating their property with care. Finding great tenants is the first step to ensuring that your rental will be a great investment for you, but the best tenants won’t just appear. You need to attract great tenants to your property.

In a highly competitive rental market like Chicago and the surrounding suburbs, great tenants have their pick of many amazing rentals. Why should they rent your property instead of another property? It’s important to make a solid plan to ensure that the right tenant will see your property and make it their first choice.

But where do you start?

Look at other nearby rentals

Put yourself in your ideal tenant’s shoes. Most tenants are looking for rentals in only one or two specific areas and will be comparing yours to the others they see. How does your property compare to other available rentals in your area? Is your unit the only one in the building with carpet or without stainless steel appliances? Is your house the only one on the street with no landscaping? Whether you are renting a South Loop condo or a single family home in South Holland, if your property is in poor condition compared to nearby rentals, it will not attract great tenants.

In addition to considering the physical condition of your unit, consider what amenities your ideal tenant will expect. If you are renting the only unit in a large building that does not come with a parking space or the only townhouse without laundry, it will be more difficult to get a great tenant interested in your rental. If your rental property does not have the same amenities as other nearby rentals, consider ways to add those amenities.

Make necessary improvements quickly

Some great tenants might wait for you to make repairs and upgrades until your property meets their expectations. However, the best tenants will see a property that needs work and just move on without asking for a coat of paint or a clean carpet. Savvy tenants usually believe that what you see is what you get. You may tell tenants that you’re willing to make changes, but seeing is believing.

A property that is in need of cleaning or repairs will always sit on the market longer – and when you’re not collecting rent, you’re not profiting! If you’ve looked at other rentals in your area, you should have a good idea of what your ideal tenant is expecting. Be proactive with repairs – get those things done first before advertising your rental. If you wait for tenants to ask for what they want, you will be waiting longer.

Marketing

Now that your property is ready for your ideal tenants, it’s time for them to see it! When you were looking at rentals near yours, you probably noticed the ways that nearby properties were being marketed. Some methods are more effective than others, and great tenants look for their next rental in a variety of different ways in different areas. Some great tenants look around on their own, but others are too busy with their jobs. These busy tenants will be working with a licensed broker who will scour the MLS to find just the right rental for them.

Just as you looked at other properties, look at other property listings. How are the rental properties around your property being marketed? What do those listings say? Take the time to familiarize yourself with the dos and don’ts of rental listings and you will save time, money and unnecessary frustration.

Many new landlords find marketing their rental property effectively to be one of the most difficult tasks to achieve on their own. An experienced Chicago property management company can help you to ensure that your listing is not only the most attractive, but also complies with fair housing laws. Contact Real Property Management Chicago Group to find out more about how a property management company can help you make the best of your Chicago area rentals.

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SEATTLE (July 30, 2012) –  Successful investment in rental properties often depends on keeping vacancy rates low, both by minimizing tenant turnover and by quickly re-renting properties when tenants do depart. According to a recent survey conducted by All Property Management, the largest network of property management companies on the internet, professional property managers can help investors substantially on both counts.

Based on responses from 298 property management companies located in 201 cities across the US, the average annual vacancy rate for a professionally managed property is 5.5 percent, compared to the 8.8 percent national average reported by the US Census Bureau. Respondents cited expert tenant screening, superior customer care during tenancy, swift action against delinquent tenants, and general local market knowledge as reasons for their success in preventing long vacancies.

“Having a full-service management company that knows the ins and outs of property management, including rental law, maintenance requirements, accounting best practices, and how to effectively market and show a property is critical to maintaining cash flow while preserving the integrity of a rental property investment,” says Reggie Brown, who, in addition to being CEO of All Property Management, owns investment properties himself. “Most first-time landlords have very little understanding of these fundamentals. It’s a steep learning curve.”

Additional survey findings include:

• 67 percent of property management companies can typically fill a vacancy in four weeks or less.
• 51 percent of professional managers can keep the cost of rehabbing a property between renters under $1,000.
• The average uncontested eviction costs around $2,000, including legal fees, lost rent, and property repair costs—emphasizing the need for careful tenant screening.

With a glut of bargain-priced, distressed properties set to come on the market over the next few years and interest rates at historic lows, investors are clamoring to make rental property investment part of their portfolios, making these findings especially relevant to finding a sustainable solution to the current housing crisis.

All Property Management has the fastest growing, largest and most comprehensive network in the industry with more than 2,000 managers nationwide. Investors and property owners using All Property Management’s network are able to easily navigate and compare management companies located near their properties specifically suited to their needs.

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