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Property Management Blog

Blog Post Streamline Lease Renewals in Chicago, IL, with Our Expert Tips

Streamline Lease Renewals in Chicago, IL, with Our Expert Tips

By Yellow Key PM Friday, February 21, 2025
The average value of a single-family home in the Chicago area is just over $370,000 according to the Chicago Tribune, making the city an amazing location for rental property owners. However, navigating lease renewals can often feel overwhelming for property owners and landlords.I...
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Blog Post 4 Effective Rent Collection Methods in Chicago, IL

4 Effective Rent Collection Methods in Chicago, IL

By Yellow Key PM Friday, February 7, 2025
In Illinois, the median rent is around $1,200 according to World Population Review, making the state fairly lucrative for rental property owners. This is especially true for those who own properties in Chicago.Although becoming a landlord in Chicago comes with the potential for s...
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Blog Post Rental Property Accounting: Essential Guide for Landlords in Chicago, IL

Rental Property Accounting: Essential Guide for Landlords in Chicago, IL

By Yellow Key PM Tuesday, January 21, 2025
You're a landlord in Chicago, IL, managing a few rental properties. The city buzzes with opportunity, and your investments are paying off - until tax season rolls around. Suddenly, you're staring at a pile of invoices, receipts, and spreadsheets, trying to make sense of i...
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Blog Post The Essential Guide to Maintenance Coordination in Chicago, IL

The Essential Guide to Maintenance Coordination in Chicago, IL

By Yellow Key PM Tuesday, January 7, 2025
A tenant in Wicker Park reports a leaky faucet. Moments later, another message arrives - this time, a broken AC unit in Lincoln Park. By lunchtime, an urgent plumbing issue emerges in your Lakeview property.Sound familiar? Maintenance coordination in a bustling city like Chicago ...
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Blog Post How Often Should a Landlord Inspect Rental Property in Chicago, IL?

How Often Should a Landlord Inspect Rental Property in Chicago, IL?

By Yellow Key PM Saturday, December 21, 2024
NewsNation reports that higher utility bills, insurance premiums, and property upkeep costs in the U.S. contributed to a 26% increase in homeownership costs from 2020 to 2024. As a result, homeowners must now spend over $18,100 yearly to own and maintain an average single-family ...
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Blog Post Chicago Accidental Landlord Tips

Chicago Accidental Landlord Tips

By Yellow Key PM Saturday, December 7, 2024
Have you recently become one of Chicago's accidental landlords, perhaps due to acquiring inheritance property? Or maybe you've encountered unforeseen personal circumstances, resulting in your need for extra income.Regardless of the reason, here's some good news. Accor...
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Blog Post Landlord Insurance vs Umbrella Policy

Landlord Insurance vs Umbrella Policy

By Laura Olson Tuesday, February 27, 2024
As a real estate investor, you may wonder if you need landlord insurance or an umbrella policy. Landlord insurance is a type of property insurance that protects landlords from financial losses due to damage to their rental property or from liability claims made by tenants. U...
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Blog Post How to Rent Out Your House in Illinois

How to Rent Out Your House in Illinois

By Yellow Key PM Thursday, December 14, 2023
It was not long ago when any property owner could post a rental listing online and have a qualified tenant lined up to view and apply to rent their home. The demand for rentals far exceeded the supply during the 2021 housing boom. Any reasonably clean rental home was likely to be...
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