Best Property Management Companies in Chicago
Chicago Style Management is happy to be considered one of Chicago's top management companies; however, property management is often hyper-local and focused on the types of clients we work with, and these days, you’ll find more property management companies than ever. The funny truth is we all pretty much do the same thing. But few Chicago property management companies can do those same things well. Only a handful can do it consistently. So below is a list of our favorite competitors that may be able to help when we can’t:
A great property manager must be good at a multitude of things, and often the contradiction is that you must please the landlord who hires us, plus their tenant, all while staying within the law. Here is what we grade companies on before we would recommend them to real estate investors for their investment property.
1. Tenant placement: the companies need to be able to place tenants quickly, but at the same time they need to have extensive screening of the tenant to make sure that you do not get any bad apples that could kill your profits
2. Financial reporting: If you can't see where you are going, you will never get there. How do you know if your rental properties are doing well or if your rent collection is behind if you can not see your rental income and expenses in a timely manner? Anyone we recommend will give you peace of mind by having online access to all your finances. If you talk to a property management company still doing things with pen and paper, run for the hills. We give access to our investors to pull financial reports at any time in their portal, and they receive full financial statements in their inbox every month
3. Property maintenance: When it comes to maintenance issues, there are tons of ways to skin the cat, but what we look for is that the tenants' issues are dealt with quickly and done right the first time, even if it's slightly more expensive. A good Chicago property manager needs to understand the unique issues properties that are 50 to 100 years old can present.
4. A dedicated team: having a one-man shop or trying to have your realtor manage your property is a recipe for disaster. If your management team isn't focused on management 24/7, things can easily fall through the cracks.
5. Licensed Real estate company: when you give your biggest asset to someone to run you want to make sure they are properly licensed and insured before doing so.
Google reviews are a great way to get an idea of whether a full-service management company is going to have good customer service, but we know that they can be manipulated, which is why everyone on this list has a personal relationship with us, and we know how they treat their tenants and rental property owners.
So with the criteria out of the way here is the list, this list is in no specific order and all of these companies are the best property manager for a specific area or specialty for some they focus in affordable housing others luxury buildings. But all of them have great tenant relations and offer professional management in the Chicago area.
Best Chicago property management companies
Chicago Style Management: Obviously a bit biased, but when it comes to the South Side of Chicago and affordable housing, whether you have single-family homes or multi-family properties in Chicago, we consider ourselves to be one of the best options out there.
GC Realty: serves the western suburbs both north and south, as well as anyone we have met; they have outstanding leadership and processes that make their clients' properties great investments.
Landmark Property Management – As an industry leader, Landmark is located in the Pilsen neighborhood, but also has a strong presence in Will County. If you need property management in Joliet, Mokena, Frankfort, New Lenox, talk to the team at Landmark.
Marblestone Property Group – Marblestone has a strong focus on the south and southeast side of Chicago. Owner Jared Kott is often known as the Boss of the Southeast Side. In the article Three Things To Consider Before Investing in C Class Neighborhoods, Jared shows his expertise in dealing with investors not prepared to invest in C&D Class South Side of Chicago neighborhoods like South Chicago, Deering, South Shore, Pullman, & Roseland.
Concierge Property Management LTD – Serving most of Lake and McHenry County, they have built a team that works great with investors.
Domain Property Management: If you have luxury property on the North Side of Chicago, this would be our pick for Chicago property management services
Chicago has no shortage of property managers to choose from. Finding someone who can deliver consistent and high-quality property management over time significantly reduces your pool of options.
If you have questions about the level of quality to expect from your property management company, give us a call. We’ll offer examples of what the best property management companies do for their clients. Because everybody wins when investors do well, even if they don’t use our services. ;)
Not sure what to expect finacially when you call a property Management company, take a look at our property management fees.
