The Best Property Managers in Lake County IL Are the Ones Proven Safe To Hire
Property managers in Lake County IL bearing The Prime Buyer's Report TOP 10 symbol are those property management companies that have exceeded the minimum Illinois regulatory standard. They are those proven by our independent research to have passed the TOP 10 requirements for value and reliability, that carry liability insurance as protection for you the client, who use only employees legal to work in the U.S., and for whom our staff has called previous clients to verify high satisfaction with them for property management in Lake County IL, including vacation rentals, apartment buildings, rental homes, and commercial property management such as for office building managment, malls and other retail properties.
Updated December 30, 2016
The Best Property Managers in Lake County IL Are the Ones Proven Safe To Hire
The state of Illinois requires that property management companies in Lake County IL have a state real estate license if they are engaging in renting, leasing, collecting rent, and finding tenants in their management of apartments or other rental properties such as mall and office buildings. But that license is not specific to knowledge of property management.
So the state license is no guarantee that any particular property management company in Lake County IL is even competent in property management, is doing business ethically, is providing real value, or satisfying its clients.
This makes it significant that all property managers in Lake County IL who bear The Prime Buyer's Report-TOP 10 symbol have been cleared by our research staff as passing all the requirements for Prime Buyer's Report-TOP 10 status such as survey phone calls to previous clients to verify high satisfaction with their property management services, good complaint record, verified state license, verified liability and workers' comp insurance for your protection, using only employees legal to work in the U.S., and more.
Property Management Companies in Lake County IL
Whether you need good residential property managers, commercial property managers or property management companies for retail property management in Lake County IL, the best property managers know how to maximize your income by minimizing vacancies and finding tenants. Good property management companies in Lake County IL also oversee maintenance to retain the value of your buildings.
Some property management firms in Lake County IL have particular expertise in either residential or commercial property management and other properties including marinas, retail buildings, and mobile home parks. The kind of property you own will determine the experience and size of the property management companies you consider.
Responsibilities of Residential Property Managers in Lake County IL
Residential property management companies in Lake County IL deal with tenants and are responsible for coordinating repair, maintenance, and tenant improvements. They often also collect rent, and remit taxes and make other payments.
The core responsibility of rental property managers (also called apartment property managers) is to serve as the conduit between the tenants and the property owner. This can include dealing with overdue rent and tenant evictions. Some residential property managers are also responsible for renting out units, rental showings and tenant contracts. They lessen the burden on the building owners by taking over tasks including maintenance appointments and overseeing tenant improvements. Good rental property managers will send monthly reports to the property owners to keep them up to date on financial and property details.
Responsibilities of Commercial Property Managers in Lake County IL
Commercial property managers do many of the same tasks that rental property managers do, but they must also have experience managing multiple tenants, property management software and accounting systems, building security and management issues that are unique to commercial and retail spaces. The best commercial property management companies in Lake County IL also pay the utility bills and expenses.
Commercial and retail property managers take care of the day-to-day up keep of the property and often advertise vacant properties and screen the potential tenants. Their expertise might also include minimizing vacancies and increasing the income the property generates. Experienced property management services can even increase profit by advising property owners on the price of available units based on comparable units in nearby areas.
Some Property Management Companies in Lake County IL Are Better Than Others
The cheapest property managers in Lake County IL usually aren't the best ones. Cutting corners and lack of full oversight lead to bigger expenses later on that could have been avoided.
The Prime Buyer's Report lists these Property Management Companies in Lake County IL: . Other property managers in Lake County IL that might still be in business include: .
Questions To Ask Property Managers in Lake County IL
To be sure you're getting the best property managers in Lake County IL for your particular needs, follow these guidelines below.
Step 1: Describe Your Requirements to the Property Management Companies in Lake County IL
Prepare a list of all the tasks you want a property management service to take care of. Then have ready a full description of the property, income and expense information. Share the same list of tasks and property description with all of the property management companies you're considering so their proposals to you are for the same services so that you can make a fair comparison.
Step 2: Use the Following Questions to Evaluate Property Managers
You'll learn a lot about the residential property management companies or commercial property managers in Lake County by conducting a short interview. You're likely to find the best property management company for you by choosing the one who can answer your questions to the best of your satisfaction.
The following questions will get you started:
• Are the property managers in Lake County available full-time or part time?
• What are their hours of operation? Will they also take care of your property on weekends and holidays?
• How much are the fees, how are they structured, and are there potential extras?
• How many other properties do the property managers manage?
• How strong is their knowledge of your particular local market?
• Do they outsource their duties to other individuals? Or will they be directly involved in all of the property management services?
• Can they prove to you that all their employees are legally allowed to work in the U.S.? (All property management companies in Lake County IL bearing The Prime Buyer's Report-TOP 10 symbol have already signed an agreement to only hire documented workers.)
• What are the contract terms?
• Do the employees at the property management companies know how to collect rent?
• Will the property managers provide names of clients you can call to verify their satisfaction? (All property managers in Lake County IL bearing The Prime Buyer's Report TOP 10 symbol have already had their clients called by our research staff so you don't have to.)
• Do the property management companies in Lake County charge extra fees for property showings, evictions or any extra services?
• How do they advertise the rental units?
• Will they show you copies of their liability insurance and workers' compensation insurance? (All property managers in Lake County IL bearing the Prime Buyer's Report-TOP 10 symbol have already had proof of insurance verified by our research staff so you don't have to.)
• What is the average time and cost for them to prepare rental units?
• What has been the average length of time it's taken each of the property management companies to fill vacancies?
• What screening methods do the property managers use when filling apartment vacancies?
Once you've chosen the best property managers in Lake County IL for your particular needs, make sure they have a real estate license from the state of Illinois since that's required by law. (All property managers in Lake County IL bearing the Prime Buyer's Report-TOP 10 symbol have already had their state license verified by our research staff so you don't have to.)
Resources About Property Managers in Lake County IL
Regulatory Agencies & Trade Associations Related to Property Management in Lake County IL
BOMI Building Owners & Managers Institute International www.bomi.org
BOMA Illinois | Building Owners & Managers Assocation of Illinois www.bomasuburbanchicago.com
Chicagoland Apartment Association www.caapts.org
CIRPP Central Illinois Rental Property Professionals www.cirpp-live.com
IRPOA Illinois Rental Property Owners Association www.irpoa.org
Illinois Landlord Association www.arpola.org/landlord-association-illinois/
IREM Institute of Real Estate Management www.irem.org
IREM Illinois www.iremchicago.org
NAA National Apartment Association www.naahq.org
NARPM National Association of Residential Property Managers www.narpm.org
Property Management Association pma-dc.org
Media Regarding Property Managers in Lake County Illinois
Commercial Property News Magazine
Property Management Magazine
Commercial Property Management Magazine
The Journal of Property Management
Rental Property Reporter
International Journal of Strategic Property Management
The Prime Buyer's Report provides information for the TOP 10 Property Managers in Lake County IL within the following zip codes:
60074-2, 60096, 60073, 60089, 60088, 60087, 60085, 60084, 60083, 60079, 60099, 60035, 60047, 60031, 60046, 60030, 60045, 60069, 60020, 60044, 60064, 60015, 60042, 60061, 60010-3, 60041, 60060, 60002, 60040, 60051-2, 60037 and 60048
The Prime Buyer's Report provides information for the TOP 10 Property Managers in Lake County Illinois within the following cities:
Waukegan, North Chicago, Highland Park, Zion, Lake Forest, Park City, Buffalo Grove, Mundelein, Gurnee, Round Lake Beach, Libertyville, Vernon Hills, Grayslake, Deerfield, Lake Zurich, Lindenhurst, Beach Park, Wauconda, Fox Lake, Antioch, Island Lake, Long Grove, Winthrop Harbor, Lincolnshire, Lake Bluff, Round Lake Park, Hawthorn Woods, Lake Villa, Round Lake, Ganges Lake and Ingleside