Find a property management company in Chicago, IL

Find property management companies in Chicago, IL

Find property management companies in Chicago, IL

Share a few details and we'll show you the best property management companies in your area.
Zip code

Management needs

Find property management companies in Chicago, IL

Share a few details and we'll show you the best property management companies in your area.
Zip code

Management needs

Top 10 property management companies in Chicago, IL

Homeowners agree: these Chicago property management companies are highly rated for knowledge, experience, communication, and more.
COMANDIS® Residential

COMANDIS® Residential

5.0(1)
9+ years in business
Serves Chicago, IL
Jose R. says, "Very professional building manager. All our requests are answered on time" Read more
Demeter Masonry

Demeter Masonry

New on HomeGuide
1 hire on HomeGuide
13+ years in business
Serves Chicago, IL
We take great pride in what we do and follow time honored methods that produce projects that get better with time Meeting new people ,establishing relationships , managing issues clients have with there home or commercial projects is very rewarding .
Top Quality Systems

Top Quality Systems

New on HomeGuide
24+ years in business
Serves Chicago, IL
Hello, I'm Brian. I have over 20 years in rough and finish carpentry, plumbing electrical and HVAC systems.
Cortezsunshinelandscaping.com

Cortezsunshinelandscaping.com

5.0(1)
Offers online services
1 hire on HomeGuide
22+ years in business
Serves Chicago, IL
Eddie G. says, "want it noted that I hired Ortiz Sunshine Landscaping to repair a downed wooden fence. I could not be more pleased with the job they done, they were at my home on time, they worked very hard in frigid weather and completed the job as promised. " Read more
Fairate

Fairate

New on HomeGuide
1 hire on HomeGuide
4+ years in business
Serves Chicago, IL
Our focus is introducing to the home improvement community doing quality work at a fairate. My name is Joseph and with my team and I having over 20 years of experience in the home imporvement field we know what it takes to merge the two for you.
Tittle Construction, LLC

Tittle Construction, LLC

New on HomeGuide
Offers online services
14+ years in business
Serves Chicago, IL
When I see the smile on my customers face when I complete a job.
First Call Freight And Haul LLC

First Call Freight And Haul LLC

5.0(1)
2 hires on HomeGuide
8+ years in business
Serves Chicago, IL
Gregory B. says, "Showed up on time ready to work. Would recommend them!" Read more
Quality HVAC Solutions

Quality HVAC Solutions

5.0Exceptional(6)
32+ years in business
Serves Chicago, IL
Miriam E. says, "Great experience! I highly recommend them! They are willing to go above and beyond. " Read more
KELLER WILLIAMS ELITE REALTY

KELLER WILLIAMS ELITE REALTY

New on HomeGuide
23+ years in business
Serves Chicago, IL
Name recognition
Corey's Landscaping And Home Maintenance

Corey's Landscaping And Home Maintenance

New on HomeGuide
24+ years in business
Serves Chicago, IL
I treat every job just as if I was doing it for myself. We give 110% on every job we do.

Your property management questions, answered

Answers to commonly asked questions from the experts on HomeGuide.

How much do property management companies charge?

Property management companies typically charge between 8% and 12% of the monthly rent to manage the rental property. This fee covers their costs for marketing the property, running background screening on potential tenants, collecting rent, and handling routine maintenance issues and repairs.

Since management fees are a percentage of the rent, the fees will be higher in urban areas with a higher cost of living. Managers also have higher fees for multi-family properties bringing in more monthly rent payments to process. Finally, the more services that the management company offers, the higher their fees. If the company is required to handle maintenance and repairs for your rental properties, you will pay more for their services than if you only require them to screen tenants and collect monthly rent.

What do property management companies do?

Property management companies are responsible for the day-to-day operations of rental properties. They handle everything from finding tenants and collecting rent to dealing with repairs and maintenance.

Depending on your budget and the number of properties you own, your property management company may perform the following tasks:

  • Screen tenants by running background checks to ensure the potential renters have stable employment and a good rental history.
  • Review and sign the rental agreement lease with any approved tenants.
  • Collect rent from tenants every month and deposit the rent payments into the owner's account.
  • Schedule routine maintenance services like lawn care and pest control, as well as schedule contractors to fix any repair issues.
  • Advertise any vacant properties online, in print, and by holding open houses.
  • Provide customer service to both the property owner and the tenants by answering questions about and resolving any disputes.

Should I hire a property management company?

You should consider hiring a property management company if you have room in your budget for the monthly fees, especially if you own multiple properties or you live far from the properties you rent. An experienced property manager can take over the daily operations for you, saving you time and the cost of maintaining the properties.

In addition to collecting rent and handling maintenance issues, a big benefit of hiring a property manager is that they market your vacancies, screen tenants, and quickly fill any empty units so that you don't suffer the lost income when a tenant moves out.

Are property management companies worth it?

Yes, an experienced property manager is worth the monthly fee, especially for new landlords that are still learning the ropes. Knowing your property is in good hands can give you peace of mind and free up your time to focus on other interests.

Additionally, a licensed property manager reduces your legal liability by understanding discrimination, disability, and tenant laws that govern leasing practices including evictions and late rent. If your rentals are part of a government-funded affordable housing program, the property manager will ensure you adhere to the complicated set of rules that pertain to your property.

Do property managers need to be licensed?

Property management licensing requirements vary by state. In most states, a property manager that is renting or leasing properties is required to have a real estate broker's license or be a real estate salesperson working for a licensed broker. There are some exceptions to this rule including onsite managers who work at one property, community association managers, and short-term rental managers.

The main reason most states require licensure for property managers is to prevent legal liability for property owners. Licensed property managers undergo a background check and are trained in the laws against tenant discrimination, property accessibility for individuals with disabilities, and confidentiality laws. The only states that do not require property managers to be licensed are Vermont, Idaho, and Maryland.

Do property management companies pay for repairs?

No, property managers do not typically pay for repairs out of their pocket. Instead, their monthly fees include a reserve fund for repairs and maintenance. If a repair is needed that exceeds the amount in the fund, the property owner is billed for the additional costs.

An experienced property management company should provide its clients with a management agreement that spells out their responsibilities. Since larger multi-family properties require more maintenance, the management company charges a higher monthly fee to increase the size of the repair fund. Properties managers also charge higher fees in certain locations that are more prone to damage from weather or crime.

What questions should I ask a property management company?

Handing over the responsibilities of your rental property to the management company is an important decision. Be sure to ask these questions to help you choose the best manager for your property:

  • What are your monthly rates?
  • What services are included in the monthly rate?
  • How long have you been managing rental properties?
  • What is your marketing plan to fill vacancies quickly?
  • What is your screening process for tenants?
  • How often do you visit or inspect the property?
  • How do you handle repairs and maintenance?
  • How do you handle tenant disputes or late rent payments?
  • Have you ever dealt with an eviction?

How do I choose the right property management company?

Choosing a property management company you can trust will give you peace of mind. Here are some tips to help you choose the right property management company:

  • Do your research online by reading about the company's experience and the services they offer.
  • Read online reviews by current and past clients on HomeGuide and Google.
  • Make sure the company is licensed and insured as required in your state.
  • Interview several companies to find a company that fits your budget and needs.
  • Ask about the company's marketing plan to fill vacancies with good tenants.
  • Select a company that is prompt to respond to any questions or concerns.

Reviews for Chicago property management companies

Recent success stories from people in the Chicago area.
Xavier H.
I had a very positive experience with Quality HVAC solutions. Since my initial call, I felt that the person that answered my call was knowledgeable and knew what they were talking about. They went to my house and found the problem right away(my a/c was built in the 70s and had seen it's better days already, apparently a/c's are not even made in that shape anymore) the service person gave me a couple of options and I went with the one I felt comfortable with, they made some suggestions but they weren't pushy or anything during any part of the process. A couple of days later they were able to send what they called an "install team" that arrived and began work right away. The team was very courteous and professional and you could tell they've been doing this for a while. They initially arrived with a smaller a/c than we had agreed on but it was sorted out right away with a phone call. They finished installing and even took the old a/c and all the old pieces too. We're very happy with the work Quality HVAC did for us.
Quality HVAC Solutions
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