Tips for Choosing Your Property Management Company in Chicago
Property management services can vary dramatically. You want to look for a company that provides full service with a reputation that stands above the crowd. Consider the following informative tips when choosing your property management company in the Chicago area. These tips will help you to choose the right company to handle your property.
Wide Experience with Local Area
You want to choose a property management company that manages more than one type of property. Look for a company that manages single family homes, multiple homes, multi-family homes, and institutionally-owned properties. A property management company that services more than one type of property offers experience and knowledge you can trust. A company that is well versed in many different types of properties can fit your needs now and in the future.
Just as they should have experience with different property types, the company should be knowledgeable about the area, as well. Choose only property management services that have experience and knowledge about properties within the local Chicago area. Ask about the company’s expertise on rental rates, insurance information, and licensing procedures. Each location is different, and it is vital to be aware of the local rental climate.
Research companies and choose one that features centralized accounting. Rental management services should have accounting services within their company in the local Chicago area, not in another city or state. Centralized accounting provides more efficient portfolio viewing, no matter if the portfolio is small or large.
Tenant Availability and Quality Screening Procedures
Choose a property management company that uses rigorous screening techniques. Screening should include more than just credit checks. Screenings should also include criminal background checks, as well as income and employment verifications. Your property is important to you, and needs to be important to the rental company you are choosing. This means that you only want the best tenants in your property, and the rental company should be doing everything they can to give you them.
Evaluate the reputation of the company you are considering. Only choose a property management company that has a solid reputation. A company that has ethics and integrity should have reviews and client testimonials readily available for you. Avoid assuming that a company that is cost-effective is also reputable. Do your homework and ask to see testimonials, or speak with other clients who have previously experienced the integrity of the company you are considering.
The company history can help in this area, too. Get to know what the company is about, how long they have been in business, and what the company has been able to do for the area. The reputation can tell you a lot about the integrity of the company.
Real Property Management is a full service property management company in Chicago. A leader within the Chicago property management business, Real Property Management has a solid reputation as being a company with local experience, impeccable ethics, and integrity you can trust. Reviews and testimonials are available to help you make the right choice in choosing your property management company.