Property Management Blog

Monday, October 12, 2020

3 Ways to Manage Your Rental Properties
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In the past, I wrote about who should self-manage and who should hire a property manager. You can read it here.  Many people only think about these 2 options when it comes to managing properties.However, what a lot of people don’t know is that there is a 3rd way to manage your properties. It stands between self-management and h...

Tuesday, September 15, 2020

Competitive advantage
One of the hardest things for us to do is to really understand what the other side is going through. The property management business is no exception, and I constantly try to understand the perspective of the owners and the residents. Regarding the perspective of the owners, I can say that I do understand them, not just conceptually ...

Monday, August 31, 2020

What is lazy money?
What is lazy money?When we buy a property, one of the things many of us do is to look at the return on our investment.  Let's say you buy a $100k rental property with $20k down with $80k mortgage and make $200 monthly cashflow. In this case, you are getting a 12% return on your money or $2,400 per year. Over time, let's ...

Tuesday, August 4, 2020

Owners Initial Cost
If the rent is $1,000, and the property management fee is $x, owners should not expect to receive $1,000 - $x, at least not the first month.Getting a property ready costs money, even if it's in decent shape. Below are the examples of the initial costs.- Maintenance reserve - Tenant placement fee - Fees for the new locks and the instal...

Wednesday, July 15, 2020

What we value about vendors
When it comes to choosing the right vendors, we believe getting 5 bids for every job and picking the cheapest one is NOT the way to go. Initially we may have to get some bids, but once we find good vendors, we shift our focus to creating good relationship with them. Think about it, do you want to get paid the lowest possible amount for ...

Saturday, July 11, 2020

4 Standards We Follow To Make Rentals Ready
Every property is different, but we use our own 4 standards to provide the same experience consistently to the residents.1. Safety -We provide safe properties. Everything from windows to alarms to light bulbs is checked.2. Cleanliness - We provide clean properties. That is why we only use an experienced professional cleaner.3. Functionali...

Thursday, July 2, 2020

Picking the right property management company
Picking the best property company doesn't start by, well, picking the best property management company. It starts by understanding that there is no perfect way to pick the best property management company for you. Even if you find one, it still doesn't end there, because they could turn into a bad one, or maybe a new better compan...

Thursday, June 18, 2020

MRP
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We now have a property manager with Military Relocation Professional or MRP. We are proud to be able to play a small part in helping those who risk their lives to defend this country. Many of our clients are in the military, and we are looking forward to adding more values by taking advantage of the knowledge we gained from getting the MR...

Thursday, June 18, 2020

We can't take all owners
One of the main benefits of hiring a property manager is you'll save time (if you how the right one.) If you feel like you constantly need to get involved with everything your property manager does, then you are probably not the right fit for us. We serve those owners who want to get involved as little as possible to save time, b...

Thursday, June 4, 2020

1011 Talltree Ter, Libertyville
1011 Talltree Ter, Libertyville
We list houses also. You can see more pictures here. Contact us if you have any questions. This lovely well maintained and cared colonial style home on a peaceful cul-de-sac within the desirable Greentree subdivision boasts 4 bedrooms and 2.5 baths with a concrete driveway with 2-car garage, convenient fenced-in yard with a nice stor...

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