Chicago Property Management Blog

What Your Chicago Property Manager Should Be Doing for You

What Your Chicago Property Manager Should Be Doing for You

Are you unhappy with the way your current property manager is managing your investment property? 

We work with a lot of investors who get increasingly frustrated with rental management companies that aren’t doing their jobs. Investors are dealing with extended and expensive vacancies, tenants aren’t paying rent or they’re leaving without notice, and work orders are piling up, leaving the property at risk for deferred maintenance. 

You need to know what’s going on with your property and that requires proper communication. 

Most importantly – you need to have the best property manager who knows how to help you minimize risk and maximize cash flow.  The MF Cashflow Team has been named one of the top 10 best property management companies in the Chicago suburbs.  We can help you achieve your rental investment goals. 

Chicago Property Managers Must Communicate

Communication is a challenge with a lot of property management companies, and it always surprises us. Some companies take four or five days to get back to an owner who had one simple question. Sometimes they never get a response at all.  

The good news is, we can help. At MF Cashflow, we manage around 400 doors in Chicago and the Chicago suburbs and I personally own several rental properties. We know what it takes to cash flow your property, and the first thing that’s required is communication.

Communication is vitally important in any relationship, and it’s especially important in property management. There needs to be clear communication between owners and their management company. If you need us, we’re here answering the phone and responding to emails and texts. We know communication is important, and that’s why we’re accessible, available, and responsive. 

Chicago Property Managers Must be Responsive to Maintenance and Repairs 

Communication with the tenants is also vital especially when it comes to maintenance issues. Maintenance is also key to your success as a real estate investor, and we do have an amazing maintenance team. Our in-house maintenance team is incredible, and even more important is our 24-hour maintenance hotline. 

Tenants want to be heard, especially when there’s a problem at their home, so we’re picking up the phone 24 hours a day and seven days a week. We ask the right questions so we can get the right professionals out there to fix the problem as quickly as possible. 

Chicago Property Managers Must Minimize Vacancy and Collect the Rent

One of the most important things your management company should be doing is helping you avoid vacancy. Tenants leave when they aren’t getting the answers they need, and their problems aren’t being resolved. 

Vacancies are going to kill your cash flow and your financial statement will prove it. If tenants leave, you still have to fix the problem you thought you could ignore. Then, you’ll have to invest more money to get the property back to rent-ready condition. 

If there’s a vacancy, your property manager has to move quickly. 

We get your property back on the market within 72 hours of a tenant leaving. We’re quick to make the necessary repairs and we advertise the home on more than 80 websites and the MLS. 

Finally, once the property is occupied a great property manager is working hard to collect every dollar of the rent each month.  This is crucial to keeping your cash flow statement in the black.  

Ask your current property manager what he does to collect the rent each month.  Does he pursue the tenants regularly to get the rent paid?  Do his people make phone calls, send text messages and emails, and even make property visits in attempts to collect the rent? 

 If it is obvious the tenant is unable to pay does he act swiftly to get the tenant moved out?  Does he have alternative rent collection options to remove the tenant without resorting to an expensive eviction?  

If you’re not getting what you need from your current property management company, contact us at MF Cashflow Team. We handle property management for Chicago and the Chicago suburbs.  We’ll help you make more money with your rental property whether you have a single unit investment or an entire portfolio.  Whether it is a single-family home or apartment management you are looking for, we can help your cash flow.  Our real estate management also includes assisting investors to buy and sell properties.  

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