Concierge Property Management, Ltd.

We are big enough to meet your needs, but small enough to care.

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Frequently Asked Questions
Why shouldn't I manage my property myself?
Many owners choose to manage their property themselves and many of them are very successful. With the time involved in collecting rents, arranging repairs and leasing units, most owners have found that their time is more valuable spent elsewhere. A good property manager will make you money on your investment, not cost you money. Other important considerations are the legal aspects of property management. Professional property managers are well versed in landlord tenant law, and are abreast of the constantly changing Federal and State mandates governing them.


How do I know you will select a good tenant for my property?


My criterion is high when it comes to choosing tenants. My screening process takes into account an applicant’s credit report history, employment history, stability, and prior rental history. My thorough background checks result in better-qualified, financially stable residents. This in turn creates a lower turnover factor and premium rents.


How much does professional property management cost?


Generally, the cost of management is a percentage of the monthly gross rent. The percentage will vary depending on property type and size. However as a rule of thumb, you can expect to pay anywhere between 8% and 10% depending on your property type, size, and requirements. For seasonal and short term rental properties management fees are slightly higher.


Are any licenses required to perform property management?

Yes, the law requires that property managers be licensed with the Illinois Department of Financial and Professional Regulation. Concierge Property Management, Ltd. is a fully licensed Corporation in the State of Illinois. The President, Shannon Lasky also holds specialized certifications in the area of residential property management. 


Will I have to pay for property repairs?


Yes, just as you would if you were to manage the property yourself, you are still responsible for maintaining the property. The advantages of allowing the property manager to handle the maintenance issues of your investment property are extensive. I have the capability of negotiating with vendors for discount prices based on volume. These savings are passed directly to the property owner. 


Is the cost of property management deductible?

Yes, the costs of management services are deductible, just like your mortgage interest, property taxes, and the cost of repairs. (Contact your tax professional for details.)