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Property management is a crucial part of owning rental property in Chicago. If you don’t hire the right property manager, you could be left with leaky faucets, late rent checks and unhappy tenants. So it’s important to make sure that you find the right one for your needs. Here are some tips for finding the best property managers for your rental properties, and why TAS management could be the perfect solution:
Do your research
- Look at portfolios. The best way to find a property manager is by looking at their portfolio of properties they have managed in the past, and then comparing them against other potential candidates’ portfolios. At TAS Management, we currently have a portfolio of 500+ properties across the city of Chicago.
- Check out websites and social media accounts. You should also make sure that the property manager you choose has an active website with information about their services and fees, as well as links to reviews on Yelp or Angie’s List so you can get an idea of what previous clients thought about working with them before signing on themselves.
- Talk to previous clients. There are many ways you can do this: call up previous clients yourself (if they’re willing), ask friends who’ve used PMs before if there was anything negative about them that stood out during the process (as long as it wasn’t something personal), if you have friends who rent, ask what they think about their property manager, etc.
Determine your needs
When you’re looking for a property manager, it’s important to consider your needs and goals. The first step is to figure out what kind of investment strategy you want to pursue with this property. Do you have an ideal rent price in mind for the property? Will the property be an income generating asset or just something that provides some tax benefits? Are you planning to find renters yourself, or hire an agent to help you? How much time and energy are you willing to put into managing the property yourself as well as maintaining its upkeep?
Once you’ve determined your investment strategy for this particular piece of real estate, consult with one of our Property Managers at TAS Management for pricing on our services. Not only do we have a top of the line management portal for tenants and owners, we also have an in house renovation team, and leasing agents who can help you with pricing and renting out your units to get top dollar for them. TAS Management and The Apartment Source are your one-stop-shop for all things multifamily.
What to look for in a property manager
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- Look for a property manager who has experience in your area. The TAS Management portfolio extends all across the city of Chicago, and we have multiple offices to service our tenants needs.
- Look for a property manager who has experience with your type of tenant. If you want to rent out an apartment building, make sure that whoever manages it has worked with large groups before and knows how to handle them effectively.
- Look for a property manager who offers an array of services. Rather than finding a property manager, a real estate agent, and a general contractor in different places, look for a property manager who’s a one stop shop. Many property managers offer multiple services, so you can choose which ones work best for you and your investment.
- Make sure that the person managing your property is legally permitted to do so. If not, find someone else. It may seem like an unnecessary step but there are good reasons why it shouldn’t be skipped over lightly–you don’t want someone without proper credentials managing one of your biggest investments.
The right property manager is the one who understands your needs, understands the market and can help you achieve your goals. Finding them doesn’t have to be difficult if you know what questions to ask and what information they need in order to work with you. If you’d like to learn more about all of the services TAS Management offers, give us a call/email today!
📲 773.404.9900 📩 PM@ApartmentSource.com
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