At 5th Group Management, we take the stress out of owning investment properties in Illinois. Our apartment management services are designed so that your role as the owner is only to sit back and relax. We’ll take care of all the rest:
Our apartment management services include:
Your Resident Will Always Know When, Where and How Much To Pay
At least one week prior to the end of the month, residents receive their monthly rental invoice via email or mail. The monthly rent invoice will include a detailed breakdown of any rent and applicable lease or utility charges. Residents can also log-in to our website at any time to check rent balances or to confirm that previous payments have been processed. This allows each resident the ability to stay on top of rent payments.
With Online Rent Payment, Collection is Easy and Prompt
Long gone are the days of dropping checks in the mail. With rent payment occurring directly on our website, we can ensure that rent is paid seamlessly and efficiently. Furthermore residents can pay they rent using their bank account and even have the option of using a credit card. We recognize the importance of timely rental payments, so that expense payments can be made. Residents who have not paid rent by the 5th of the month will receive reminders via email and phone. We continue to follow up consistently until the rent is paid.
Reviewing All Expenses for Accuracy; Tracking and Recording Expenses
Every invoice we receive is carefully reviewed and analyzed prior to payment. Each invoice is thoroughly checked for accuracy to confirm there have been no errors in accounting, billing or overage charges.
We Field All Resident Requests- Alleviating You of Any Hassle
With our vast experience in handling resident requests, we know exactly what residents expect. Through our custom request tracking system, our clients save time and money, while we maintain satisfied residents. Same day response is provided to confirm all requests are received and our apartment management team can be conveniently contacted 24 hours a day 7 days a week via phone, email or through our website.
Repair and Maintenance Issues
When Maintenance or Repair is Required, We Ensure The Job Is Done Quickly, Correctly and With Cost Savings in Mind
By providing quick responses to all issues, we help keep small problems from getting bigger. Assistance is also provided with maintenance of items like HVAC systems, sprinkler systems, irrigation systems, and more. We can help you find the best price possible and make sure each job is of the highest quality and performed by insured, reliable companies.
Lease and Lease Renewal Preparation
Never Use an Inadequate or Incorrect Lease Again
We provide proper lease documentation to ensure you have the paperwork protection you need by tailoring each document to the specific requirements of the apartment or building. We prepare lease renewals to properly document resident extensions and assist on both rent stabilized and free market leases. We are kept well informed of any changes in laws to make certain you are up-to-date on current regulations.
Board Application Assistance for New Residents/ Renewals
Avoid Costly Delays in Approvals- We Stay on Top of Board Applications
We carefully track board packages to ensure timely preparation and processing. We offer assistance to apartment/building owners with completion of the board package, and the preparation of any checks/deposits needed. If you require renewal lease approval, we will work with you to ensure completion, while assisting building management with any questions or clarifications required.
Apartment Turnover Services
We Pre-Inspect the Apartment, Obtain the Lowest Possible Pricing, And Oversee All Turnover Work
Pre move-out inspections are conducted at least 2 weeks in advance of the expiration of the lease. Once the resident has vacated the premises, our team checks again for any damages or missing items. We obtain estimates for repairs and replacements, while facilitating any necessary deduction from the residents’ security deposit. We also oversee the completion of apartment turnover work such as: Painting, floor refinishing, basic maintenance and other repairs or sprucing up required. We work hard to save money wherever possible and to keep expense as low as possible.
Emergency Repair Assistance
Around The Clock, We Are Here to Protect Your Interests When Emergency Strikes
Our apartment management team of experts is available 24 hours a day/7 days a week to handle any apartment or building emergency. Each resident is given our direct emergency phone number, so immediate contact can be made should the need arise. Our emergency response prevents a small issue from becoming a catastrophic repair. Our crisis management team has expertise in knowing who to call in emergencies and our on-site presence ensures you do not get taken advantage of in times of crisis.
Is It Time For An Update? We’ll Oversee Any Size Renovation To Bolster Rental Income
In a tight real estate market like Chicago, delivering the appropriate product to residents is key to maximizing the return of your real estate investment. We oversee any project, no matter how big or small, to bring the apartment up to market expectation. By maintaining strong relationships with contractors, we can save you tremendous amount of money. We only use quality vendors, who we closely supervise in order to ensure the job is done right and on budget. Since it is nearly impossible to manage a construction project from outside the local area, our project management team meticulously oversees the renovation process to make sure your money is being used efficiently.
Unit Owner Meeting Attendance
Know What’s Going On In Your Building, Even When You’re Away
To keep you informed of the operating affairs of your condominium or co-op building, An 5th group Management team member can attend your annual unit owner’s meeting. We take detailed notes of the information distributed at the meeting and provide you with all the latest updates on your building’s operations. We are here to help decode any issues that occurred during meeting and will stay on top of all conversations.
Monthly and Annual Accounting Statement Preparation
Detailed Income and Expenses Statements Provided to You On-time, Every Month; Tax Preparation is Easy With Our Year-End Statement
Tracking the financial activity of your asset is made easy with our monthly and annual accounting statements. By the 15th of every month, you will receive our monthly owner’s statement, which details the income and expense activity of your asset. All receipts are attached for ultimate transparency and tracking purposes. Easily track your monthly statements on our website and access financial reports that can be shared with investors. This makes annual required tax filings simpler and cheaper, as the financial reporting is done for you.
Furnishing Procurement and Inventory Services
Renting Your Apartment Furnished? Your Inventory is Recorded and Tracked
We track all inventory and keep detailed records on furnishings in your apartment. We have residents sign the inventory statement upon moving in so there are no disputes upon the resident’s vacating the apartment. We will also replace any broken or missing items so they are present for the next resident. If you would like to rent your apartment furnished, our staff decorators can provide expertise on furnishings based on the specific needs of your apartment.
Routine Property Inspections
Keeping Tabs On Your Property, So You Don’t Have To Worry About The Unknown
When your apartment or building is not occupied by a resident, our team makes routine inspections to ensure everything in the apartment is in good condition. We help maintain the safety and security of your asset and will make sure there are no leaks or other such issues. In the event a deficiency is found, we take photographs and report it to you, so you can always be in the know of the condition of your apartment.
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