Are You Securely Collecting Rent Payments?
Real Property Management Chicago Edge
by JB
2y ago
If you are not yet using a secure online system to collect your rent payments, your cash flows and your tenant’s bank information might be at risk. Collecting rent payments is one of the biggest challenges Chicago rental property owners face. The issue gets more problematic if you still rely on traditional methods of payment, like personal checks. This is because the process of collecting a check has so many potential delays and, increasingly, security concerns. Whether the rent check is late due to mail delays or waiting for your bank to clear it, or you’ve been the victim of mail theft and ..read more
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Why Real Estate Builds Wealth More Consistently Than Other Asset Classes
Real Property Management Chicago Edge
by Jessa H
2y ago
Every time you ask seasoned investors and investment managers what their top recommended investments are, one type of asset always makes the list. Regardless of whom you talk to and the state of the nations’ economy, real estate is always one of the first three investments they will recommend. Real estate investing is so established that some of the other investment options you will hear about, such as commodities, will also depend on real estate to some extent. Furthermore, several investment vehicles also make real estate investing a major part of their investment strategy. For instance, IRA ..read more
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Recycling Right: What Materials Are Actually Accepted
Real Property Management Chicago Edge
by JB
2y ago
As a Lincoln Park renter, you may be thinking about what you can do to live more sustainably. For a lot of people, sustainable living starts with recycling plastic, cardboard, or other materials. But what many don’t realize is that not all of these things can be recycled. Just because an item is made of plastic, glass, metal, or cardboard doesn’t imply that it is recyclable. And putting non-recyclable items into a recycling bin is kind of a gigantic waste of time for you as well as the processing center. Here are some things that may help you recycle the right way. Plastics To know which plas ..read more
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What to Expect from a Renter’s Insurance Policy
Real Property Management Chicago Edge
by JB
2y ago
As a renter, one of the best ways to protect yourself, your visitors, and your personal belongings is to get a renter’s insurance policy. Most Lakeview property managers require tenants to have renter’s insurance before moving-in day. However, some renters are not familiar with renter’s insurance and do not know what to expect. For example, what does renter’s insurance cover, how much will it usually cost, and are there different options? This article will take you through these topics. What is Renter’s Insurance? The quick definition of renter’s insurance is an insurance policy that covers p ..read more
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Top Pet-Safe Houseplants
Real Property Management Chicago Edge
by JB
2y ago
Houseplants can contribute natural beauty to any Berwyn rental home. However, if you do own pets, it’s essential to select houseplants that are not poisonous. This may take you by surprise, but some of the most common kinds of houseplants can be toxic for your pets. If you’re trusting in the fact that your pet would never try to eat a plant, that’s not the only way a toxic houseplant can cause harm. Even rubbing against some plants can cause skin irritation, digestion problems, and more to your furry companion. Here are the top pet-safe houseplants to keep your pet safe while enjoying the pro ..read more
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How to Build a Balcony Garden
Real Property Management Chicago Edge
by JB
2y ago
If your Chicago rental house has a balcony or patio but not much yard space, you can still satisfy your green thumb and grow your very own garden. A balcony garden can be a great way for renters to marvel at nature – with or without a yard! Put a bit of thought into it, and you’ll surely be able to make your balcony and patio a place your renters will enjoy. Choose Containers One of the easiest ways to start a balcony garden is to get a large freestanding container, window planter, or railing planter. You can start simple with your garden balcony even with just a few containers to hang on the ..read more
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When Eviction is The Wrong Call
Real Property Management Chicago Edge
by JB
2y ago
As a Lincoln Park landlord and rental property owner, evictions are sometimes necessary. However, when you encounter a difficult tenant, eviction is not necessarily the answer. Evictions are not only time-consuming, but they can also be quite expensive for both you and your tenant. In fact, most of the time, neither the property owner nor the tenant benefits from the eviction process. Due to this, it could be that evicting a tenant is the less ideal thing to do. It’s quite likely that, in these circumstances, you and your tenant would do well to look for alternatives to eviction. Your Otherwi ..read more
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Has Your Property Tax Assessment Increased Recently?
Real Property Management Chicago Edge
by JB
2y ago
If you have been shocked when you opened your Lakeview property tax assessment notice, you are not alone. Property owners usually see significant increases in their property tax bills due to home value increases, boundary shifts, as well as other changes. There is, however, something you can do about an unfair property assessment increase. A significant increase may give you grounds for objection, especially when it varies greatly from other properties in your area. Objecting to a property assessment increase will seem daunting, but it is more common than you think. About 20 to 40% of propert ..read more
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What You Need to Know About Lead-Based Paint Exposure
Real Property Management Chicago Edge
by JB
3y ago
It is your duty, as an Evanston landlord as well as a property owner, to keep your rental property in a safe and habitable state. This would mean doing regular maintenance and repairs for almost all property owners. If your rental house was built before 1978, there are some things to include in your property maintenance list. For instance, a lot of older homes were created using lead-based paint on the inside walls and ceilings. Lead-based paint can be hazardous, which is why landlords should be concerned about reducing lead-based paint exposure to their tenants. Next, we’re going to share a ..read more
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Rising Rental Rates & Regular Rental Property Assessments
Real Property Management Chicago Edge
by JB
3y ago
Many new or do-it-yourself landlords in Lakeview often make the mistake of not knowing how to calculate a fair market rental rate for their property. Because of this, many rental property owners under- or overestimate how much rent they could charge and end up losing money as a result. This is especially true as rents continue to rise across the country. If you do not increase your monthly rent to keep up with the market, you are making an unsound decision. When your property is occupied, however, it becomes imperative that you know how to correctly raise rents. There is a lot of good advice ..read more
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