Let us manage your Chicago Rental Property
Owning a residential rental property can be a lucrative investment, but can also come with headaches and worries. Find a skilled Chicago residential property manager to help save you time and money.
The Power Is in the Process.
PMI residential property managers follow a proven process throughout the rental cycle, maximizing everything from marketability to rental price. And if there’s any maintenance required, we’ve got you covered. Our licensed and insured vendors will take care of it. Trust the power of the process and enjoy the peace of mind a good property manager provides.
Step 1: Ready
With over $5 billion of assets under management, PMI is the expert in residential property management. During the Ready process, we thoroughly analyze and inspect your property, making recommendations and repairs for ideal marketability. From there, we gather professional property photos, display the needed signage, and engage the use of lock boxes to maximize showings. Once that is set up, we advertise on the PMI Syndicated Network, both locally and nationally.
- Professional-quality photography
- Detailed property description intake
- Secure property access
Exclusive PMI Listing Network
- Live listings on dozens of credible websites
- Personalized and enticing listings
- Broad and effective advertising
Maximize Your Revenue
- Thorough assessment and pricing based on sophisticated data
- Property improvement recommendations to increase profitability
- Exceptional maintenance and protection plan for the property
Step 2: Select
Once the property is ready, we Select a qualified tenant following Fair Housing law to lease your property. We start this step with a professional showing system that includes self-showing and 24/7 online access backed by a driver’s license and credit card requirement. Applicants will then go through our advanced screening process, which uses industry-best technology to screen each applicant properly. At PMI, we never lose sight of getting the lease signed and the property occupied.
- Professional showing system
- In-person or self-showings for pre-screened prospective residents
- Safe and reliable walkthroughs
Screenings and Approvals
- Advanced tenant screening to minimize risk while maximizing occupancy and rental revenue
- Approvals comply with fair housing, credit reporting, and privacy requirements
- Electronic leasing process for faster lease signings and tenant move-ins
- Faster property occupancy
- Reduced risk of identification scams
- Placement of highest qualified tenants
Step 3: Protect
PMI will Protect your investment into the future by managing your property through industry-leading accounting, maintenance, and communication. We ensure on-time rent collection and promise to manage a property as if it’s our own. Property owners can rest assured knowing they will get their funds by the 10th working day of each month. They also receive expense reports and a monthly accounting statement, along with tax statements. If any maintenance is required, we’ve got you covered. Our licensed and insured vendors will take care of it.
Manage Lease Terms
- On-time rent collection
- Properties managed like they’re our own
- Tenant compliance support
- Fast delivery of owner funds
- Copies of all expense receipts
- Accurate real-time statements
- End-of-year statement and 1099 tax reporting
- Pre-tenant move-in review
- Annual or semi-annual property review
- Final walkthrough
Step 4: Renew
The result of Ready, Select, Protect is a quality tenant who will Renew their lease and enhance the return on your investment. The renewal process starts 90 days in advance. We analyze the tenant’s payment performance, assess the property’s condition and conduct a market analysis (for any updates on the rental price).
Results and Improvements Review
- 60-day advanced renewal process
- Tenant payment performance analysis
- Property reviews assessment
- Comparable-based market analysis
New Lease and New Tenant Support
- 60-day advanced marketing
- Property set up for renting
We work to quickly find the right tenant for your property and use our proven marketing methods to attract high-quality applicants.
Every application undergoes careful screening, with background and financial checks designed to keep your interests protected.
Getting your rent payment on time shouldn’t be a guessing game. We handle all billing, and work to get your money to you on time.
We know how to keep your property in optimal condition. We handle all maintenance requests and coordinate needed repairs for you.
Accounting and Financial Reporting
PMI provides accurate worry-free accounting to owners with monthly reports and any-time access to our reporting dashboard.
If a tenant relationship ever takes a turn for the worse, we can process the eviction for you and minimize its impact on your bottom line.
Our regular in-person inspections allow us to identify potential problems in advance and keep your home healthy.
We monitor the laws and insurance regulations that impact your property and work to ensure that your property is legally compliant.
For owners of second homes who want the security of knowing their property is being watched and cared for while they are away.
How much rent can you get for your investment? Find out now!free rental analysis
Investing In Chicago Rental Properties
With its rich history, thriving economy, and diverse culture, Chicago offers a prime opportunity to attract new tenants and drive rental growth. The city's distinct neighborhoods, such as the trendy West Loop and historic Lincoln Park, provide a diverse range of housing options that cater to various lifestyles and preferences. Whether it's modern high-rise apartments with stunning skyline views or charming vintage homes with tree-lined streets, Chicago offers an abundance of housing choices for prospective tenants.
The city's economy is robust and diverse, with thriving industries in finance, technology, healthcare, and manufacturing. Major corporations like Boeing, United Airlines, and Groupon have their headquarters in Chicago, generating numerous job opportunities and attracting a highly skilled workforce. This constant influx of professionals seeking employment translates into a strong demand for rental properties, making it an ideal market for property owners.
From the bustling streets of downtown Chicago to the serene shores of Lake Michigan, the city offers a myriad of recreational and cultural amenities. Residents can enjoy a wide range of activities, including visiting Millennium Park, exploring the Art Institute of Chicago, and attending vibrant festivals and events throughout the year.