Owner FAQs

Answers to your frequently asked questions

• How long is the management agreement for?

  The management agreement is for one year. You can cancel with 60 days notice. This is to get the tenants notified and utilities switched over.

• How many properties are you currently managing? What types of properties are they?

  We manage about 400 residential properties made up of 79% single-family and 21% multi-family.

• What is your fee structure?

  The management fee is a flat rate of $125 for a single residence per month. For multi-unit properties other flat rate fees apply. Contact us for details.

• Do you have electronic and automated systems set up?

  Yes, we have automated systems to assure a smooth transition between occupied and vacant. We use Appfolio© for our property management software. When a property goes from vacant to occupied we have created an automated system to notify the landscaper and the utilities to switch it over so there is no disruption in service or fines for overgrown grass.

• How do you send reports? When do I get the rent paid to me?

  Your disbursement payment of the rent is sent on the 20th of the month in a direct deposit to your bank account. No waiting for a mailed check. We email an owner’s statement at the same time.

• How much do you charge for placing a tenant?

  The leasing fee is equal to one month's rent. This is paid when the tenant pays the first month’s rent. The owner holds the security deposit.

• Do you offer a tenant placement guarantee?

  We offer a 6-month tenant placement guarantee.

• How long have you worked with agencies such as CHA and HACC (Section 8 HUD agencies) and are you familiar with their inspections?

  We have been working with HUD subsidized tenants since 2009. Currently about 40% of our tenants have subsidized rent. We are very familiar with the CHA (Chicago Housing Authority) & HACC (Housing Authority of Cook County) plus various other local subsidized housing agencies and their processes and inspections. We have a proven track record of passing the first inspection over 90% of the time.

• Do you conduct credit and criminal background checks on prospective tenants?

  A thorough credit and criminal background check and credit report is provided in our Appfolio© tenant application process. In addition we check court records, verify who they say their current landlord is and contact them, check bank statements to verify income and if they have been paying rent, we also verify employment.

• How is rent collected?

  The tenant can pay the rent through the tenant portal, use ACH, a credit card, mail in the check, or we can pick it up.

• When do you send a tenant to eviction?

  The actual date really differs with each situation but we are in clear communication with you during the eviction process.

• Do you take photos of the property before and after move-in and move-out?

  We take before and after photos of the condition of the property at move in and move out. The tenant is also required to sign a checklist on the move-in noting condition.

• How often do you check on tenants and properties? Do you do an annual walk-through?

  We are always around the homes we manage and do an inspection whenever we are there. We also do thorough annual inspections and more if needed. Meaning if the outside looks bad it's usually a representation of the inside. We will then schedule an inspection. Also when there is a maintenance call our trained maintenance team communicates with us if a problem is discovered.

• How long does it take you to turn a property around in between tenants? Can you do it in 24 hours or does the owner have to lose up to a month of rent every time a tenant change occurs?

  Within 72 hours we will clean out the home including cabinets, basement, yard, and the garage and list it on the MLS which is populated out to over 80 other sites. At that time we let you know what the refresh cost is. We do not wait 3+ weeks to start showing the home. This kills cashflow. We get it taken care of quickly so the rent can start flowing again.

• How do you handle tenant calls for repairs? Do you try to solve the problem before sending out a repair person?

  We have an in-house maintenance team and a 24/7 maintenance hotline. It's very important that tenants are listened to. Many times a problem can be easily resolved during a call such as directing the tenant to switch the thermostat from heat to cool. The person answering the calls is trained and that's all they do. A work order is created and sent to the proper technician. The maintenance call is then scheduled with the tenant.

• Do you establish a threshold dollar amount on repairs above which you always call the owner? If so, what is the dollar amount?

  We require a $500 reserve held in the account. We will contact you about any repair over $500, unless it's an emergency.

• Who do you use for repairs? Electrical, plumbing, appliances?

  Mike’s background is remodeling and new construction. We use an in-house team to keep the costs low and control the time it takes to get the work order completed.

• Are you licensed?

  Yes. Mike Fisher is a licensed Illinois Real Estate Broker with M Property Group. M Property Group is the sponsoring broker and Marisa Rohrer is a licensed Illinois Managing Broker.

• Can you put the money directly into my account?

  We handle your monthly rent distribution by making a direct deposit into your bank account. Payment is made so it is in your account by the 20th of each month.

• Do I get to see the lease or sign it?

  You may get a copy of the lease. It is not necessary for you to sign it. The Property Manager signs the lease as your representative.

• Do you sell real estate too?

  Yes, we work closely with our clients and investors to purchase real estate. We also help them sell properties in their portfolio as needed.