Winter officially begins December 21, but Chicago has already experienced its first (and likely not last) sub-freezing temperatures, bringing with them the potential for frozen pipes. While a frozen pipe and the resulting lack of running water is an inconvenience, it also can lead to a burst pipe, causing extensive damage and loss of personal […]
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Acquisition of an HVAC Firm Expands One-Stop-Shop Offering for GNP’s Construction and Property Management Client Services GNP Realty Partners has added a full-service HVAC company to its family of real estate services. The company expands the offering of GNP’s Chicago Management Personnel Services (CMPS), which provides tenant build-out and maintenance services, including janitorial, construction, grounds
GNP Realty Expand Family of Companies with HVAC Services Read Full Article »
Hiring a property management company can be a big expense, especially in the short term. It can also save you money in the long run. If you have good tenants, a property in good repair, and you live nearby, you may not feel the need for a property management company. But when you live out of town, lose a tenant, and the property needs repairs, your accredited property manager becomes an important asset.
How Hiring a Property Management Company Affects Your Profit Read Full Article »
As a building owner, landlord or HOA manager, the building in your care represents a significant investment—your own or others who have entrusted their investment to your management. While few would consider taking on maintenance of an HVAC system or roof replacement a roof, many building owners and managers opt to manage janitorial work in-house,
Benefits of Outsourcing Janitorial Services for Your Building Read Full Article »
Whether readying your home to sell or looking to increase future value, consider these DIY projects, most of which require minimal time and expense. While some projects are best pursued shortly before putting a home on the market, too often, homeowners wait until they are ready to sell to make improvements. These DIY home improvement
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Get tips from GNP Realty's HOA property management team on different ideas to present to your condo board about integrating energy efficient upgrades in your community. From water saving measures to window upgrades, such measures can cut not only individual homeowner association costs, but also increase home values for the entire community.
Energy Efficient Condo Recommendations From HOA Property Management Read Full Article »
When you're a landlord, rental properties typically require a lot of maintenance to keep them in tip-top shape. Because landlord maintenance responsibilities are specified by landlord-tenant law, knowing who is responsible for what and when in advance will eliminate the guesswork.
Being a successful landlord requires the ability to plan for all the routine and unexpected rental property expenses, starting with maintenance. But for many new landlords and investors, preparing an accurate rental property budget is easier said than done. Landlords often overlook many property maintenance variables when estimating rental income and profits. Sadly, some end up losing their properties as a result. As a landlord, the following rental property budget template should help you put aside enough cash for those inevitable “rainy days.”
Property Maintenance: How Much Should I Budget? Read Full Article »
The United States traces its common-law heritage back over more than a millennia, and the statutes regulating real-estate transactions have changed substantially (to put it mildly). According to a study by Paula C. Murray that was published in the University of Richmond Law Review, “The tenant bore all the risk of the physical condition of the property — caveat lessee. The tenant could provide for landlord repairs in the lease, but could not withhold rent if the landlord failed to make those repairs. Additionally, the tenant assumed primary responsibility for the condition of the premises once he took possession of the property.”
Implied Repair Covenants in Commercial Leasing Read Full Article »
Landlords and commercial property managers find themselves beset by all sorts of concerns. Routine repairs and ordinary expenses. Changes in the competitive landscape and shifts in local zoning codes. Tenant complaints and specific compliance tasks. It’s enough to make one’s head spin.
Commercial Property Management Safety for Landlords Read Full Article »
