Updated over 3 years ago on . Most recent reply
Management Rental Recommendation.
Hello, I have asked my realtor to manage some of my units in Chicago. I have worked with her several times and I love her work.
What is your recommendation on how to pay her? should I do a mostly or per call situation?
Do you have any management company recommendation in Chicago
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- Real Estate Broker
- 3412 S. Harlem Avenue Riverside, IL 60546
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@Haickel Padron where I think you could make this work is if you have your realtor do the leasing for you when you have a vacancy. This is a nice middle ground. You still might have to take the occasional maintenance call and deal with collections, but leasing is one of the more time-consuming parts of the job and it is something many (not all) agents can do a solid job with.
For a full-on management relationship, your agent would need to be the managing broker of the company and would need to be able to handle your money correctly. The accounting alone is about 70% of the work in my opinion. Your agent may or may not be able to handle that side legally and well. Although the owner of property management firms are also licensed, they typically have a much stronger focus on management versus sales.