Owning rental properties is a lucrative way to generate income. Given how much effort has to go into dealing with tenants, remaining in compliance with local laws, and keeping the properties in decent condition, this is not a path for those who want easy money. The process of being a landlord is easier if you hire one of the property management services in Chicago to help. Here are some of the key roles those services play.
It’s not unusual for property management services in Chicago to take over the screening of tenant applications. This involves things like verifying references, confirming income, and conducting background checks. Thanks to the work of the service, it’s easier to narrow the applicants down to a list of those who are more likely to move in and remain part of the community for a long time.
Those same services can take on the task of property maintenance. That involves overseeing those who ensure the grounds are maintained, buildings are painted, and new carpeting is installed when a unit is vacated. The same team steps in when a tenant has a complaint about a leak, a malfunctioning kitchen appliance, or any other issue.
Last, many property management services in Chicago manage the collection of rent, ensuring that the money is paid on time, fees are applied when payments are late, and even helping the landlord if it becomes necessary to initiate eviction actions.
There’s more that this type of service can provide. If you own rental properties and find it difficult to keep up with all the tasks involved, talk with a professional today. The help you need may be easier to secure than you think.