Recently a tenant in a residential building we manage approached the property manager to ask for a recommendation on a REALTOR® to list their unit for sale. Our property manager informed him that GNP Realty has a brokerage arm and was well-positioned to list and sell the unit. GNP’s philosophy of being a single source […]
Benefits of Using Your REALTOR® for Property Management and Sales Read Full Article »
The holiday season in Chicago officially kicks off each year with the spectacular Magnificent Mile Lights Festival. The centerpiece of the festival is the largest nighttime parade in the U.S., during which 1 million lights on 200+ trees illuminate as the parade (led by Mickey and Minnie Mouse) proceeds down North Michigan Ave. (“The Magnificent Mile”)
Benefits and protections for managed buildings during large public events Read Full Article »
With mortgage interest rates rising and rental properties commanding higher rents, some property owners are tempted to become landlords. Money earned from rental properties can offset mortgage costs or provide extra income during these inflationary times. Before diving into the rental market, consider these unexpected and often overlooked rental property maintenance expenses to help plan
Rental Property Maintenance Costs You May Not Know About Read Full Article »
Being a successful landlord requires the ability to understand rental lease agreements and when to update them.
10 Signs You Need to Update Your Lease on a Rental Property Read Full Article »
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 »
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 »
While commercial property management can offer wonderful returns, the horror stories that surround it are enough to make your hair stand straight up off your scalp, turn white as the driven snow, and then fall out completely. Just consider the 2012 report from The Sydney Morning Herald about the arrest of a ring of criminals manufacturing $15 million AUD worth of drugs out of rental properties. Or the evicted tenant who left the stove on and almost burned down the property. Or a property with an unplugged refrigerator that had been left stuffed with meat — for two whole years.
Commercial Property Management: Pros & Cons 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 »
Don't let a current condo owner try to manage the needs of your condo community! The cost of a Chicago real estate management company is easy to justify when you weigh all of the time that such a role requires. Here are just a few of the many reasons why your HOA should hire a team of experienced real estate management professionals ASAP!
Why You Should Hire a Real Estate Management Company Read Full Article »
Get tips on how to ensure your next HOA construction management project is a success. By following a proven, and often required, process for condo construction projects you can help ensure that the appropriate contractor is selected and that the end results meets everyone's expectations. Learn more about the site review, project specifications write up and process to request bids from the best construction management contractors in Chicago.
Construction Management Process for HOA Renovation Success Read Full Article »
