Chicago Property Management Blog

It's shocking that Chicago is short by around 142,000 homes based on demand.Even though buyers are facing lots of competition, this doesn't mean that sellers can slack off. This is where open houses come into play.Do open houses sell houses in Chicago? Read on for a breakdown of Chicago open houses.Home Staging Sets the Scene for SuccessThe art of home staging takes center stage in the quest to sell homes. By arranging and prese...

We're excited to share the exceptional news that GC Realty & Development has achieved a prestigious rank of #13 among the top 20 largest property management companies in the United States, as highlighted in Peter Lohmann's Newsletter. As the exclusive property management firm representing Chicago on this esteemed list, our success underscores our steadfast commitment to excellence, responsiveness, and delivering tailored ser...

2023 was a banner year for our Property Management team at GC Realty & Development.  Underwriting 2194 applications and leasing 324 units we can say we had ZERO eviction filings on any of the 680 tenants approved.  We are taking this opportunity to celebrate where it is fresh for us to reflect and share what we did right.  We started in 2022 by making sure our screening criteria ensure that only the most qualifie...

In 2024, landlords and property managers in Chicagoland and Illinois need to know the new laws. These laws affect their operations. It's important to understand these changes. It's important to follow them. They include different ways to pay, new protected groups, and environmental rules. Doing this will help your rental business succeed and stay legal.New Requirements for Security Deposit In 2024 Illinois will change its s...

Attention all Chicagoland property managers and landlords! The future of transportation is electric, and the Illinois Electric Vehicle Charging Act (EVCA) is making it easier than ever for tenants to charge their EVs at home. This means big changes are coming to the way you manage parking and energy usage in your buildings. But don't worry, we're here to help you navigate the EVCA and stay ahead of the curve.Here's what Chic...

As a property manager in Chicago, staying ahead of the curve is crucial. In 2024, the landscape of accepting electronic payments in the Windy City is undergoing some significant changes, and it's essential to be prepared. Here we’ll equip you with the knowledge and resources you need to navigate these updates and ensure smooth financial transactions for both you and your tenants.The Big Shift: No More Mandatory Electronic Paym...

We had a banner 2023 at GC Realty & Development for our 1500 units under management.  We underwrote 2194 applications and leased 324 units with ZERO eviction filings on any of the 680 tenants approved.  This is the info you need to know to ensure you do it right or feel confident if you are considering working with GC Realty & Development to lease or manage your property for you.   The Importance of Tenant Screeni...

Security deposits are important in the landlord-tenant relationship. They protect landlords and hold tenants accountable. Illinois has laws to prevent misuse and unfair practices. Both landlords and tenants need to understand these laws for a fair rental process.What is a Security Deposit?When a lease agreement begins, the tenant pays the landlord a security deposit. This money protects the landlord if the tenant causes any damages duri...

The Chicago Permanent Rental Assistance Program presents a valuable opportunity for self-managers to support tenants and maintain stable rental income. Understanding the details of this program is essential for optimizing rental property management. Here's a comprehensive guide for self-managers on leveraging the Chicago Permanent Rental Assistance Program.Key Points for Self-Managers:Program Overview: The Chicago Permanent Ren...

Chicago's "Right to Counsel" Program, also known as the Chicago Eviction Defense Project, has significant implications for property managers. Understanding the impact of this program is crucial for maintaining compliance and fostering positive tenant relations. Here's a comprehensive guide for property managers on navigating Chicago's "Right to Counsel" Program.Key Points for Property Managers:Tenant Righ...