Chicago Property Management Blog

Chicago real estate investors have long heralded the importance of cash flow from rental properties. Unfortunately, too many landlords focus just on the cash flow aspect alone. This can cause them to snap up properties that look like great cash cows but end up having problems that require paying out of pocket to solve. Others sit on the sidelines waiting the unicorn cash flowing purchases to fall into their laps. Both groups end up...

Disclaimer: In the following story, people moved into a rental home without permission or were scammed. When tenants move into a rental after being scammed by other shady people, they often move out right away and accept the fact that they fell victim to scamming. The people in this story did not. GC Realty & Development did not participate in the scenario below. Names have been changed and any likeness to another shady person ...

Being a Chicago landlord in 2024 is proving more difficult than ever. This is especially true when you inherit a tenant or make a huge mistake screening and you have to get a tenant out of your place. Many would-be real estate moguls hang up their dreams after dealing with evicting non-paying tenants. The legal system in Cook County, where Chicago is located, has always challenged landlords, even prior to COVID. The pandemic simply...

Investing in real estate is truly a full time job. Between following the law, insurance coverage, proactive property maintenance, proper tenant screening, marketing, and avoiding vacancies, we understand that landlords in Chicago have a lot on their plates. That’s why the team at GC Realty & Development wanted to put together this guide on the basics of keeping your investment property secured for your financial success.The Ch...

Landlords & Property Managers often highlight the importance of applicant screening when renting out your property. It is seen as the key to minimizing your risk when leasing to a new tenant. However, the current way most Landlords screen applicants for their rentals is flawed. In the past two years I have talked to dozens of Chicago landlords that have fallen victim to these scams. We even fell victim back to back on these sca...

Wondering about the direction of the real estate market? Dive into a recent talk with lender Chris Puleo and Mark Ainley from GC Realty & Development.In the video, Chris Puleo asks important questions for investors today. Mark Ainley, a real estate expert, shares insights from years of experience and understanding market trends.Whether you're new to investing or experienced, this conversation gives practical advice and a look at...

Mistakes will be made. That’s just a fact of being a business owner, real estate investor, or even both. No matter how careful you are, you’ll make a multitude of mistakes over the years. Some mistakes will be larger than others; some will barely register on your oh-shit-meter. But some mistakes will be so bad that you may never share them out of pure embarrassment. This is one of those pure embarrassment stories. I&rsq...

Deciding to move forward with an eviction is difficult, but you pay a lot in time and money too. Most real estate investors know that Cook County and Chicago generally don’t support a landlord-friendly market. The lengthy legal process to remove a non-paying resident from your unit demonstrates that.Throughout the entire process, as the landlord, you must continue to address any habitability issues in the unit. This can include cl...

The Chicago real estate market has some of the best opportunities for investors around the world. Chicago is a world-class metro with huge finance, transportation, and agriculture hubs. That said, if you don't know what to look out for, Chicago can also be one of the toughest cities to manage rental property for both professional property managers and self-managing landlords. Meanwhile, even though you’d think residential...

In 2024, the landscape has changed for Landlords in Chicago and the surrounding suburbs. Over the recent years, we have seen rental applications almost 100% shift from paper to digital format, which makes the process a lot more convenient. However,  that has created additional levels of risk not everyone has the ability to combat, or sees coming.GC Realty & Development Was DefraudedIn 2021, GC Realty & Development fell vict...