Apartment, condominium, HOA, REO, & other property management services by Real Property Management Suburban Chicago in Chicago IL.
Real Property Management is the expert in managing property, including Apartment Communities, Common Interest Communities managed by Homeowner Associations (HOAs), Real Estate Owned (REO) properties, and Commercial property.
Managing apartments with 10 – 50 units can be complicated. Our focus is to provide the maximum return from your investment without the work associated with the day to day running of the apartment complex. We are familiar and comfortable with the regional culture as well as local and state laws. We are well qualified and experienced to manage small to mid-sized apartment communities. The services we provide can include leasing agreements, rent collection, cash dispersal, and tenant relations and also 24 hour, seven days a week, maintenance and repair service. We can even staff your community if you require on-site presence.
Common Interest Communities
Common interest communities include individually owned units, shared facilities, and common areas in neighborhoods. Common abbreviations include PUD, CIC, HOA, COA, LMA, and LOA. Many types of properties are included such as single family homes, condominiums, town homes, and retirement communities. Alongside the Board of Directors of your homeowners association, or HOA, our professional property managers will manage the common areas (playgrounds, parking lots, swimming pools, and clubhouses) and ensure compliance to the governing documents of your community.
Real Property Management has the professional experience, systems, and tools to deliver excellent service to your community. We’ll help you minimize the stress and hassles that come with association management and improve relations among your members.
Five Ways We Can Help
- Cost-effective grounds and building maintenance and repairs: Proactive attention, a systematized process and strategic alliances work together to save you time and money
- Precise, trustworthy financials: Our services include billing and collecting assessments, timely management of accounts receivable and payable, and preparing monthly financial reports
- Rigorous compliance: Associations avoid costly mistakes and legal actions with our compliance policies and tracking systems
- Experienced, trained professional team: No other property manager in the industry is backed by the intensive training required of our managers and staff, supported by a library of over 200 courses on every subject of property management
- Organized and timely administrative duties: Our professional staff handles administrative tasks such as recording and keeping minutes, responding to members’ questions and concerns, and creating and distributing newsletters
Not only will your members be pleased with our property management services, your board will have more time to focus on other responsibilities.
Real Estate Owned Properties
Real Estate Owned (REO) properties (foreclosed properties owned by a bank, government agency or government loan insurer) can be found in nearly every neighborhood across the country. Bank REO properties are frequently in poor condition and need repairs and maintenance, both to satisfy property upkeep laws and to preserve the property’s value for selling purposes.
In addition, the Protecting Tenants at Foreclosure Act (ProTAFA) basically gives a tenant the right to stay in a foreclosed home if they have a lease, forcing banks, and in some cases individual investors, to become the landlord. Real Property Management has the knowledge and experience in working with institutions to preserve foreclosed properties and abide by ProTAFA.
We can manage commercial property in addition to residential property.
A commercial property building often hosts a number of distinct tenants, for example, a shopping plaza may only be one building, but hosts a variety of businesses – each with their unique needs. As the property management company, we not only ensure each tenant is paying rent and other fees such as utility payments and CAM fees, but also ensure timely common area maintenance. Negotiations with tenants and the potential problems associated with commercial properties can be complicated however we pride ourselves with maintaining a harmonious relationship with the owners of the properties under their control, as well as with the tenants.
Our professional team possesses a great deal of knowledge on prevailing laws and the requisite expertise to deal with your unique commercial property. We are also prepared to conduct frequent property inspections and direct day-to-day maintenance issues to avoid costly problems and inconveniences.