Property Management
What makes grand realty group the top choice for property management in northern Illinois?
Owning a rental property can be financially rewarding, and at times it might not seem difficult but unexpected situations can arise that need to be addressed quickly and efficiently. At Grand Realty Group, we have 15 years of experience in handling not only the daily tasks of managing properties, but also navigating the more difficult things like emergency maintenance and difficult tenants. Many of our agents own rental properties in Lake County, IL and understand the challenges that come along with the job. When we manage your property, we treat it as if it’s our own – and that means we get great results!
In 2018, our Occupancy Rate was 98.59%, which means that only 1.41% of the properties we manage were unoccupied throughout the year!
Here are some of our other statistics:
- Out of 30 listed properties, we were able to secure and move in a new tenant within one week for 18 of them; 9 properties were in need of some repair upon tenant move-out, which caused new tenant placement to take more than a week.
- We had no evictions of tenants placed by GRG in the last year. In fact, out of 150 managed properties, we’ve had less than 5 since we’ve been in business.
- Grand Realty Group’s Average List Time: 27 days
- All MLS* Average List Time: 39 days
- Average Rental Price: $1561
- Average Vacancy Time with repairs needed: 51 days (of 9 properties, 3 were vacant less than 1 week, 4 were vacant between 1-2 months, and 2 were vacant over 100 days due to heavy repairs needed.)
- Average Vacancy Time with no repairs needed: 7 days (of 21 listings, 15 were vacant less than 1 week; 6 of those were for just 1 day!)
- Average Maintenance Price: $1200 per year
- Average Maintenance Task Completion Time: 5 days
*MLS report for November 2017-November2018, rental price $1200-$3000, in the following areas: Antioch, Fox Lake, Ingleside, Grayslake, Lindenhurst, Lake Villa, Libertyville, McHenry, Gurnee, Round Lake Area, Winthrop Harbor, Zion.
OUR AWESOME PROPERTY MANAGEMENT SERVICES:
- In our initial meeting, the property will be evaluated to determine a rental price. Any necessary paperwork will be completed, and we’ll discuss the services covered by Grand Realty Group. We will also review any repairs or maintenance needed to get the property ready for a tenant.
- When the property is listed, it will be listed on the MLS and hundreds of other websites for maximum exposure. We will thoroughly screen any applications, and help you decide who to accept. Prior to tenant move-in, we will perform an extensive inspection with photos and professional repairs to document the condition of the property. Our full-service team will work hard to ensure a timely occupancy!
- Once you have accepted a tenant, we will get both you and the new residents set up in our online portal. This will give you access to view maintenance records, track rent collection, and more. We will handle all maintenance and repairs, collect the monthly rent and disperse to you through direct deposit (minus Property Management fees and any deductions from repairs), as well as coordinate lease-end procedures. We can also manage eviction processes for you, in the unfortunate event that it becomes necessary.
- At 75 days to your tenant’s lease-end, we’ll inquire whether they wish to renew or not. Then we will discuss with you to be sure you’d like to renew our services. If you wish to stop renting, and sell your property for any reason, we have vast experience in marketing and sales too!
BENEFITS OF HAVING OUR IN-HOUSE MAINTENANCE TEAM WORKING FOR YOU:
- Before & after photos of the repairs will always be provided.
- Because our maintenance team performs most of the repairs on your rental property, they become familiar with the property and can use the knowledge of past repairs and issues to help with future maintenance calls.
- We are fully insured – including workman’s compensation and general liability – over 1 million in coverage to protect you as a landlord!
- Whenever our maintenance team performs a repair or visits the property, they will report anything that looks out of the ordinary such as: unapproved pets, a messy house, or other potential preventative maintenance issues.
- Our company is reliable and stands behind their work.
- We have a broad range of experience.
- When a job is not our expertise or our in-house team is not equipped to perform it, we have a compliment of fully insured subcontractors that we can count on, all of whom are familiar with our standards and processes!
Some of the tasks we can complete for you are:
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