Chicago Property Management Blog

In March 2023, the average cost of houses for sale in Chicago was $272,270. If you plan to take advantage of these home selling prices, take note. There are some home selling fees that you should prepare for.Fortunately, this article is a great place for you to start. We'll cover the basics of the total cost of selling your home in the Chicago area. Keep reading so you know what to expect.Real Estate Agent CommissionsThis is typical...

Whether or not you should hire GC Realty & Development to manage your Chicago property depends on a variety of factors, including your specific needs and goals as a landlord, your budget, and your overall comfort level with the company.Here are some things to consider when deciding whether to work with GC Realty & Development: Services: GC Realty & Development offers a wide range of property management services, including te...

There are 20 million rental properties in the US. All of them take a bigger beating than single-family residential homes.Being a property investor can be difficult work, especially when you're renting yours out. It's a great way to make money, but it's also stressful to see your property undergo the wear and tear that most rentals do.A good property maintenance routine will curb some of the costs associated with owning a ren...

If you own a rental property, you know that it's important to keep it in good condition to attract and retain tenants. But did you know that there are certain renovations that can actually increase your ROI?Here are six of the best renovations for rental properties:PaintA fresh coat of paint can make a big difference in the overall look and feel of your rental property. It can also help to cover up any blemishes or damage that may b...

Being a landlord or property owner isn't an easy task. When you have a property you're loaning someone else to live in, you want that property to stay in great shape and be treated with respect. This means you must undergo a tenant screening process to have the right people inhabiting your home.The question is, do you have time to put together those in-depth interview questions for tenants? Even if you do, do you know the red fl...

Real estate investors may consider investing in Chicago for several reasons: 1. Strong economy: Chicago is one of the largest and most diversified economies in the United States. It is home to several Fortune 500 companies and has a strong financial sector. The city also has a robust transportation network, making it an attractive destination for businesses and investors. 2. Affordable real estate: Compared to other major citi...

As a housing provider, you are responsible for ensuring that your properties meet all necessary safety standards. Recent changes to the laws in Illinois mean that you need to be aware of some important updates that went into effect in 2023. Here's what you need to know.Sealed-Battery Smoke AlarmsStarting in 2023, all rental properties in Illinois must have sealed-battery smoke alarms installed. This means that the battery cannot be ...

A property manager is crucial in Chicago for several reasons:Local market knowledge: A property manager in Chicago has in-depth knowledge of the local real estate market, including rental rates, vacancy rates, and property values. This can help property owners make informed decisions about their investments and maximize their returns.Tenant screening and selection: A property manager can help property owners find and select high-quality...

The last few years have seen record increases in house prices. If you're looking to buy, raising funds might feel like an insurmountable obstacle. Thankfully, there's help available. First-time home buyer programs help you get the funds you need to buy the home of your dreams. So how exactly do these programs work? This first-time buyer guide will answer your questions.See if You're EligibleThe first step in using assistance...

As a landlord in Chicago and the suburbs, there are several laws and regulations that you must follow. Some of the most important laws that landlords must comply with in Chicago include:1. Chicago Residential Landlord and Tenant Ordinance (RLTO): This ordinance sets out the rights and responsibilities of landlords and tenants in Chicago. It covers topics such as security deposits, rent increases, eviction procedures, and maintenance and...