The rental season is in full swing and you may be wondering what the rental market is looking like as some of your existing leases are coming to an end.
The 2022 Chicago rental market has seen renewal rates for existing tenants at an all time high. This has created less inventory for renters looking to move this summer. The lack of inventory combined with rising taxes, inflation, and wage rates means that market rents are going up at a higher rate than years past. Don’t be afraid to let your existing tenants know that they should expect an increase in rent even when renewing their lease.
How Can TAS Landlord Services Help?
We provide expert landlord insight and strategic action plans to maximize your rental property’s return on investment. Using a combination of comprehensive comparative market analysis, lead tracking, and real-time showing feedback, we help our landlords maximize their R.O I.
There is no doubt that great marketing plays an extremely important role in finding qualified tenants. As more renters search for an apartment online, high quality photography and videography becomes their first impression of the property. The quality of the media can make all the difference. TAS provides industry-leading photography + video walk-throughs for every rental listing, included in your listing agreement.
In a landlord-friendly market, it is important to find high quality tenants. TAS provides you with all the information you need about prospective tenants.
Our 7 day-a-week applicant screening consists of the following:
- Fully itemized credit report with FICO score, eviction history + criminal background check
- Income + employment verification
- Tenancy history + verification
- Lease compliance to maximize landlord protections with consistently evolving legislation
Do you have an action plan for when your tenant’s lease ends?
Contact TAS Landlord Services Department to make sure you are keeping up with an ever-changing Chicago rental market.
TAS Landlord Services Department | 773.404.9900 | Alex@ApartmentSource.com