Property Management Blog

1. How long has your property management company been in business?Letts Property Management has been the premier residential property management company in the Chicagoland area for over 10 years. 2. What percentage of your monthly rent is your property manager charging you to manage your properties?Letts Property Management charges a stan...

Every property investors hopes that one day they can take their property investments and reinvest them in another good rental investment. New property investors hope that their initial investment can drive home a huge ROI and some day take that profit to continue their investment. Whether a new investor or seasoned investor, here are the ...

One mistake that many new and even experienced property investors make is under evaluating the value of their property managers. While many tasks that a property manager takes off the hands of a property owner are obvious such as collecting rents, handling tenant calls and the tenant-landlord relationship; other responsibilities that a go...

Investors and rental property owners often wonder what they need to know when looking for a Chicago property manager. There are a number of things to look at when you’re interviewing different property management companies, and I think there are three main categories that require your attention. ExperienceIt’s important to kno...

Chicago landlords burdened with high levels of liability have left behind the security deposit and are instead utilizing move in fees. Security deposits may soon be grouped with dial up Internet and landline phones as an antiquity in rental properties. The Chicago Association of Realtors withdrew its support of security deposits in Janu...

The question of how to set a price for your rental home gets a lot of debate, and many people have strong opinions. Our experience in the 13-plus years of managing rental and investment property leads us to considering three main components when we price a property. Comparable PropertiesThe first step is to get an idea of how much units s...

Today we are talking about the benefits of using a property management company that operates as a one stop shop. At Letts Property Management, we handle the management of rental and investment properties, and prospective owners often ask why they should work with a company like ours. The simple answer is that we can handle everything unde...

While there are a lot of questions you may want to ask before hiring a Chicago property management company, here are three questions that need to be on your list. How do you get your properties leased? The best property management companies in Chicago will always help handle the leasing on your property. The property manager may leav...

Hiring a property management company in Chicago to manage and maintain your investment properties is a surefire way to maximize your properties value. Well property management companies can offer a wide variety of services and offerings; here are the best ways to utilize a Chicago property management company in Chicago. Leasing: Leasing ...

A vacant unit can quickly turn a solid investment in to a major pain. While most property investors understand that having a unit sit vacant will not bring in any income, many do not think about all the costs involved with a vacant unit. Despite no income coming in, taxes and mortgage payments are still due and the unit is at a higher ris...