For owners of multifamily and commercial properties, finding a good property management company is important. A quality manager can help you increase your rental income, reduce maintenance costs and protect your investment. A poor choice can lead to problems attracting tenants, costly repairs and even evictions. To avoid such issues, here are some tips on choosing a Chicago area property management company.

Property managers can handle a variety of tasks for clients, such as advertising properties for rent, screening applicants, conducting property inspections and helping to set rental rates. They also manage property renovations and repairs, collect rent payments and security deposits, and take care of tenant issues. In addition, they can negotiate with vendors and provide monthly and annual reports to clients. Moreover, they can also ensure that buildings meet all local codes and regulations.

Founded in 1984, Acorn Property Management is a real estate agency that helps investors with property acquisition and management. It has over 100 residential properties and leases space to tenants. Acorn can assist with commercial and retail property sales, as well as negotiate leases for industrial spaces and single-family homes. It also provides home warranty coverage for its clients.

A full-service Chicago area property management company, MF Cashflow oversees a portfolio of over 80 apartment buildings. It helps its clients find qualified tenants by performing background checks and credit reviews and screening for criminal history, employment records, and past landlord references. It also helps them obtain new tenants by listing vacancies on over 80 websites and conducts market analysis to set fair rental prices. Additionally, it provides a tenant portal for online rent payments and maintenance requests.

The founders of CL3 have several investment properties, giving them a vested interest in their clients’ success. They work with their clients starting from the initial property purchase or rehab project through lease agreements and move in/out inspections. They also negotiate with area vendors to provide competitive pricing on maintenance, cleaning and landscaping.

Another Chicago property management firm, GC Realty & Development, LLC has more than 50 years of experience in the real estate industry. It assists with commercial and multifamily properties, including leased condos. Besides managing these spaces, the company can also assist with purchasing, construction and selling. Its team can also handle evictions and other legal matters.

Another Chicago area property management firm, Andco Property Management, offers personal service to its clients. Its management fee is low and it offers 24/7 maintenance services for tenants. Its team is also available to discuss any property issues in person. They strive to respond to inquiries as quickly as possible and are focused on client satisfaction. Additionally, they offer a number of financial incentives to attract tenants and provide discounts for veterans and first responders. For more information, check out their website.