Chicago Real Estate Lawyers

Should you hire a property manager?

If you own a rental property in Illinois, you may have heard about property management resources. For many landlords like yourself, hiring a company to oversee your property is not a simple decision. Rather, it requires time to find a reputable business that will maximize the value of your rental and generate revenue with consistent interest from renters.

You may be questioning whether or not delegating property management to someone else is worthy of your time and money. The Los Angeles Times offered some compelling reasons why this decision could yield an enticing return on investment. These include the following:

  • Because property management is their profession, allotment of time and attention will not be an issue.
  • They know all of the best housekeeping services and will make sure that your property remains clean and orderly.
  • You no longer have to worry about screening renters and dealing with the stress of finding people who meet your criteria because it will be overseen entirely by your management company.
  • A property management company will oversee all marketing efforts to ensure that your rental remains enticing and visible on the market.
  • You can be confident that periodic inspections will keep your rental in compliance with required safety protocols for legal occupation of the premises.

Because research indicates that you spend nearly 8.6 hours each week managing and caring for your property, turning this responsibility over to a qualified third party could save you time at the very least. This information provides a general overview of the benefits of working with a property management company and should not be taken as legal advice.