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    <title>Baird &amp; Warner Property Management</title>
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      <title>How Much Can I Rent My Chicago House for?</title>
      <link>https://www.bairdwarnerpropertymgmt.com/how-much-can-i-rent-my-chicago-house-for</link>
      <description>Owning a rental property in a city like Chicago is both rewarding and challenging. Rewarding because it can fetch you a good monthly income in the form of rent, and challenging because at times it becomes a bit difficult to determine the rent of such property.</description>
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           Owning a rental property in a city like Chicago is both rewarding and challenging. Rewarding because it can fetch you a good monthly income in the form of rent, and challenging because at times it becomes a bit difficult to determine the rent of such property. 
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            However, with the right advice, you can easily figure out the ideal rent for your property. Here are some of the factors you need to consider that affect the rent of a
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           Chicago investment property
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           Factors Affecting the Rent of a Property in Chicago
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           #1. Nature of the investment property 
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           The type of property that you want to rent out and the features that it offers are the prime factors in determining its rent. For instance, a commercial property usually has higher rent than a residential property. Further, if you own a Chicago single family home, you can definitely charge more rent than for an apartment. There are several considerations that affect the rent of a property. These include:
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            Square footage
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            Number of stories 
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            Number of rooms and bedrooms 
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            Number of bathrooms
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            Number of balconies, gardens, and other open spaces
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           #2. Average Rent in your Neighborhood
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           The neighborhood in which your Chicagoland property is located also plays a major role in determining its rent. Some localities like Gold Coast, Streeterville, West Loop, and River North are the most prime areas of Chicago; owning a property in those neighborhoods means you can expect a higher rent. 
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           Other localities that are more modest, like Logan Square, Avondale, Irving Park, Uptown, etc. have rentals that are more economical, so you need to charge rent accordingly. Find the average rent in your neighborhood, assess the condition of your property as compared to the surrounding properties and accordingly decide on the final rent.
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           #3. Demand for Housing
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           The Chicago rental market is one of the most volatile markets in the US, hence the rent of properties varies as per the demand for housing. When you’re trying to figure out the ideal rent for your Chicago property, keep seasonality and the potential price fluctuations in mind.
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           #4. HUD Fair pricing policy
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           The rent you charge for your Chicago investment property is determined, to a certain extent, by the US Department of Housing and Urban Development (US HUD). The HUD has a fair pricing policy that defines how much maximum rent a property owner can charge for a property in any city.
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           Deciding the Right Rent Amount
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      <pubDate>Fri, 09 Jul 2021 21:13:50 GMT</pubDate>
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      <title>Is it a Landlord Responsibility? Expert Chicago Property Manager Explains</title>
      <link>https://www.bairdwarnerpropertymgmt.com/is-it-a-landlord-responsibility-expert-chicago-property-manager-explains</link>
      <description>The relationship between a tenant and a landlord is a complex one. You may ordinarily have an excellent professional relationship with your tenant, but when it comes to property maintenance, you may very often disagree with each other over the finer points of tenant-landlord responsibilities.</description>
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           The relationship between a tenant and a landlord is a complex one. You may ordinarily have an excellent professional relationship with your tenant, but when it comes to property maintenance, you may very often disagree with each other over the finer points of tenant-landlord responsibilities. 
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            This debate stems from the ambiguity in a lease agreement, defining the responsibilities of each party. However, in a situation where the agreement is not clear enough, it helps to have an understanding of the Chicago tenancy law.
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           Laws pertaining to tenants and landlords change rapidly
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            , so we recommend seeking help from a
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           professional property management company in Chicago
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           . 
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           The law describes the responsibilities of landlords in detail, as follows.
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           #1. Maintaining the rental property
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            According to Chicago’s tenancy law,
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           the first major responsibility of a landlord is to maintain the property
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           . Chicago’s Residential Landlord-Tenant Ordinance (CRLTO) requires landlords to protect a tenant against damages that can threaten the structural integrity of the building which, in turn, impacts the habitability of the home. In addition, landlords are also required to keep floors, walls, ceilings, bathtubs, windows, porches, elevators, and staircases in good condition. Supplying heat in winters is also the landlord’s responsibility.
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           #2. Providing complete information about the property
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           As per the CRLTO, when a lease agreement is being signed, the landlord is required to give full disclosure about whether the single family home is habitable or not. Some of the chief disclosures include:
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            Identity of the owner and the broker
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            Conditions that may affect habitability
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            Paint disclosure
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            Radon gas disclosure
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            Bed bug disclosure
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            Security deposit receipt. 
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           In short, anything about the property that may potentially affect the physical and mental wellbeing of the tenant needs to be mentioned in the lease agreement.
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           #3. Staying out of the investment property (with some exceptions)
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           The CRLTO requires a landlord to stay out of the property rented by the tenant, barring a few exceptional circumstances, such as if the landlord suspects that any of the conditions mentioned in the lease agreement are being violated. 
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           For instance, a tenant may adopt a pet after having agreed to not do so at the time of signing the lease. If the landlord suspects that the tenant is flouting the no-pets rule, the landlord may conduct a surprise inspection of the rented property to determine whether you have a pet or not.
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           For repairs, government inspections, or showing the unit to other potential tenants/buyers/contractors the landlord must give a notice two days in advance, before the visit. 
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           #4. Protecting and refunding the security deposit
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           The CRLTO holds the landlord responsible for protecting the security deposit of a tenant and for refunding it with interest when the tenant vacates the house. If a landlord fails to do so, they can be taken to court, unless the money that the tenant deposited was a move-in fee, mentioned as ‘nonrefundable’ in the lease agreement. 
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           #5. Refraining from retaliatory action
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            These are the chief responsibilities of a landlord in Chicago, as mandated by the CRLTO. For further insights regarding the property management duties of a landlord in Chicago,
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           connect with us
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            at Baird &amp;amp; Warner Property Management, offering exceptional property management services for rental homes in the Chicagoland area.
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      <pubDate>Fri, 02 Jul 2021 20:00:02 GMT</pubDate>
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      <title>The Risks of Deferring Maintenance on Your Chicago Property</title>
      <link>https://www.bairdwarnerpropertymgmt.com/the-risks-of-deferring-maintenance-on-your-chicago-property</link>
      <description>Here are some of the serious risks you run if you are putting off maintenance for your Chicago rental.</description>
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            Let’s face it - as
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           Chicago investment property owners
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           , all of us have occasionally had to defer the repair and maintenance of our properties at least once. Sometimes, due to financial constraints or due to lack of time, it seems convenient to put off the maintenance and repairs. However, what seems convenient in the short term always comes with a long-term cost. 
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           Here are some of the serious risks you run if you are putting off maintenance for your Chicago rental.
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           #1. Higher maintenance cost in future
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           The stitch-in-time saying holds very true here. If you don’t get the maintenance of your property done in time, gradually, the cost of maintenance increases, as wear and tear spreads from one part of the house to another. This cost may multiply at an exponential rate depending on the nature of the problem, eventually costing you a lot more in emergency repairs than what you would have spent if you had gotten the maintenance done on time. 
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           #2. Health and safety risks
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            By deferring your
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           rental property maintenance
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           , you also increase the risk of health and safety hazards. For instance, a false ceiling requiring maintenance may injure someone if it is not fixed. Similarly, if a door needs to be repaired but you don’t get it fixed on time, your tenant may run the risk of a security breach. There are many other health and safety risks that accompany deferred maintenance of an investment property, so it is always better to get these issues fixed as soon as they crop up. 
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           #3. Potential legal issues
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           Deferred maintenance may also lead to legal troubles for you. In case of injuries or building code violations, you may get sued by your tenant; if the matter goes to court and you lose the trial, you may be asked to pay thousands of dollars as recompense. Chicago rental property laws are very stringent when it comes to the maintenance of the property, and tenants have a lot of protection in the situations where a landlord doesn’t honor his maintenance-related obligations. 
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           #4. Shorter property and asset life cycle
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           Deferring the maintenance of your single family house or other assets included in the property (such as appliances, equipment, fittings, etc.) can reduce the life cycle of your property/asset. 
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           For instance, if the walls of your building have cracks but you keep deferring their repairs, eventually the cracks will get worse and spread all across the walls, thus reducing the strength, durability, and overall life of the home. Defer it too long and the cracks may result in serious damage to your walls, if not in the collapse of the entire structure.
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           #5. You may get a bad reputation 
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            The world is a small place. If you habitually put off the maintenance of your rental property, your tenants are likely to give you a bad reputation, making you come across as a landlord who does not care for the maintenance of his property or the well-being of his tenants. Not only will this tarnish your image in social circles, it may make it very difficult for you to
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           find new tenants
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           . 
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            There are many risks associated with deferred maintenance of your Chicagoland investment property, apart from the ones mentioned above. The monetary cost of each of these risks may run into hundreds of thousands of dollars, so it is always better to get your rental maintenance done on time. If you have no choice but defer it for a while, due to unavoidable circumstances, ensure that you get it done as early as possible. 
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      <pubDate>Fri, 25 Jun 2021 20:00:03 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/the-risks-of-deferring-maintenance-on-your-chicago-property</guid>
      <g-custom:tags type="string">Arlington Heights property management,Chicago property management companies,Baird &amp; Warner Property Management,Chicago rental management,Arlington Heights property management companies,Chicagoland property management company,Arlington Heights rental management,Chicago property manager,Chicago property management company,Chicagoland Property Management Team,Chicago property management,Arlington Heights property manager,Arlington Heights property management company</g-custom:tags>
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    <item>
      <title>10 Important Answers Chicago Property Managers Should Be Able to Give You</title>
      <link>https://www.bairdwarnerpropertymgmt.com/10-important-answers-chicago-property-managers-should-be-able-to-give-you</link>
      <description>To give you an idea of what you should explore when you’re considering a new management company, we’ve come up with a list of 10 answers you should expect from an experienced Chicago property management company.</description>
      <content:encoded>&lt;div&gt;&#xD;
  &lt;img src="https://irp-cdn.multiscreensite.com/7c7e2a3c/dms3rep/multi/10+Important+Answers+Chicago+Property+Managers+Should+Be+Able+to+Give+You-min.png" alt="10 Important Answers Chicago Property Managers Should Be Able to Give You - Article Banner"/&gt;&#xD;
&lt;/div&gt;&#xD;
&lt;div data-rss-type="text"&gt;&#xD;
  
         When you’re looking for a
         &#xD;
  &lt;a href="https://www.bairdwarnerpropertymgmt.com/management-services" target="_blank"&gt;&#xD;
    
          Chicagoland property manager
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         , you should spend some time checking out their online presence and getting an idea of how they work and where they work. Reputation matters, and so does experience. There’s a lot you can find out by reviewing websites, social media posts, and customer reviews. Once you’ve found a few companies you might actually want to hire, you’ll need to conduct some interviews.
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         Do you know what questions to ask?
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         To give you an idea of what you should explore when you’re considering a new management company, we’ve come up with a list of 10 answers you should expect from an
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  &lt;a href="https://www.bairdwarnerpropertymgmt.com/2017/05/25/chicagoland-professional-property-management-the-benefits-of-working-with-baird-warner" target="_blank"&gt;&#xD;
    
          experienced Chicago property management company
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         .
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           We Have a Low Eviction Rate
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         You want a property management company that understands the eviction process, but rarely has to use it. Ask a potential property manager how often they have to evict the tenants they place. Hopefully, you’ll hear that it’s rare.
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           We Have a Consistent Screening Process
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         You’ll want to know how a property management company finds tenants. When you ask about tenant placement and screening, you should expect to hear specifics. Ask about rental references and credit scores. Find out if national eviction databases and criminal records are checked. When a property manager talks about their screening process, ask what kind of income to rent ratio is sought.
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           We Have a Low Vacancy Rate
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         Vacancies are expensive, and if your property manager isn’t sure about their vacancy rate, that’s going to be a problem. The amount of time it takes to rent your property to good tenants depends on a lot of things, but you want to know that a management company has processes in place to get your property rented quickly to the best residents and for the most amount of money.
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           We Conduct Comparable Market Analyses
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         How much is your rental property worth? You’ll need access to reliable data in order to get a competitive and profitable rental value for your investment property. When asked, a good management company will be able to explain how they compare your home to others on the market.
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           We Invest in Technology
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         Property management software has come a long way in the last decade. Ask about online rental payments, owner portals, and other ways that the management company is willing to provide innovative and efficient management services.  
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           We Understand State, Federal, and Local Laws
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         One of the reasons you
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          hire a professional Chicago property manager
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         is to stay out of legal trouble. Talk about federal fair housing laws and Chicago lease requirements. Ask about evictions and security deposit refunds. You want to be sure that your property manager not only
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          knows the current laws but is prepared to see new legislation coming.
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           We Work with Preferred Maintenance Vendors and Contractors
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         You want to know how maintenance is handled and what your property manager can do to keep your repair costs down. Good relationships with vendors and contractors can help. You’ll get preferred pricing and fast service.
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           We Document Everything During Move-In and Move-Out
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         A major part of protecting your investment is documenting its condition. Ask about the process of walking through your home before a tenant moves in and after a tenant moves out. How do they distinguish between tenant damage and normal wear and tear?
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           We Help You Buy and Sell
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         Any Chicago property manager can collect rent and find tenants. You deserve extra value, and you need to ask what that means. If you’re an investor with plans to buy more properties, you’ll want a team that can
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          help you buy, sell, and manage your assets
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         .
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           We Value Communication
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&lt;/div&gt;</content:encoded>
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      <pubDate>Fri, 04 Sep 2020 23:59:52 GMT</pubDate>
      <author>BairdWarner.social@gmail.com (-- -)</author>
      <guid>https://www.bairdwarnerpropertymgmt.com/10-important-answers-chicago-property-managers-should-be-able-to-give-you</guid>
      <g-custom:tags type="string">professional Chicago property manager,Screening Process,Maintenance Vendors and Contractors,Rental Property Management,Move-In Documentation,Low Eviction Rate,Buy and Sell,Eviction Rate,Move-Out Documentation,Chicagoland Property Management Team,Invest in Technology,Vacancy Rate,Market Analyses,State,Federal,and Local Laws,Communication</g-custom:tags>
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        <media:description>main image</media:description>
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    </item>
    <item>
      <title>A to Z Chicago Property Management - Solutions for Buying, Leasing and Selling</title>
      <link>https://www.bairdwarnerpropertymgmt.com/a-to-z-chicago-property-management-solutions-for-buying-leasing-and-selling</link>
      <description>Every investor is different, and so is every investment property. Whether you find yourself buying your first rental property or growing an already strong portfolio of Chicagoland real estate, you can get the expertise and experience you need at Baird &amp; Warner. We provide a unique one-stop shop for property owners, landlords, and investors at every level of their real estate journey.</description>
      <content:encoded>&lt;div&gt;&#xD;
  &lt;img src="https://irp-cdn.multiscreensite.com/7c7e2a3c/dms3rep/multi/A+to+Z+Chicago+Property+Management+-+Solutions+for+Buying%2C+Leasing+and+Selling-min.png" alt="A to Z Chicago Property Management - Solutions for Buying, Leasing and Selling - Article Banner"/&gt;&#xD;
&lt;/div&gt;&#xD;
&lt;div data-rss-type="text"&gt;&#xD;
  
         Every investor is different, and so is every investment property. Whether you find yourself buying your first rental property or growing an already strong portfolio of Chicagoland real estate, you can get the expertise and experience you need at Baird &amp;amp; Warner. We provide a unique one-stop shop for property owners, landlords, and investors at every level of their real estate journey.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         Our talented team understands the acquisition process, the leasing and management process, and the sales process. It’s everything you need in one location. There’s no running from office to office and company to company. We’re a
         &#xD;
  &lt;a href="https://www.bairdwarnerpropertymgmt.com/management-services" target="_blank"&gt;&#xD;
    
          holistic property management solution
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         for all your real estate investments.
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         Here’s why that matters.
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           Identifying Investment Opportunities in Chicagoland
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         Most people work with a real estate agent when they’re buying property. This makes sense. A good real estate agent can show you properties, align your budget and your goals with the inventory, and help you negotiate the best possible deal when you’re ready to buy.
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         A property manager brings a different, but equally valuable, set of skills and services to you when you’re investing. Your
         &#xD;
  &lt;a href="https://www.bairdwarnerpropertymgmt.com/2017/05/25/chicagoland-professional-property-management-the-benefits-of-working-with-baird-warner" target="_blank"&gt;&#xD;
    
          Chicago property manager
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         can tell you:
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           How much rent a potential investment property might earn.
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           How long it would take to rent a specific home.
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           What types of tenants you might attract with a single-family home or a multi-family unit.
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           What types of repairs and upgrades will be needed before the property is ready for the rental market.
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           How much maintenance you can expect to need with a specific property.
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  &lt;/ul&gt;&#xD;
  
         Only someone who leases and manages homes in and around Chicago knows what you can expect once the deal is closed and you’re looking for a way to turn that investment into an income-producing rental property. We are the team that can handle all of this and more.
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           Leasing, Managing, and Maintaining Your Chicagoland Rental Property
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         Once you have the property or the properties that you’ve decided to buy, you’ll need an expert who knows the local market and can help you market the home, place great residents, and protect its condition.
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         At Baird &amp;amp; Warner, we have been doing this for years. We will ensure you have a successful and profitable investment experience by managing your property throughout its lifecycle. Our team will take care of screening tenants, collecting rent, enforcing the lease agreement,
         &#xD;
  &lt;a href="http://www.bairdwarnerpropertymgmt.com/keeping-up-with-changing-federal-chicago-illinois-property-management-laws-and-regulations" target="_blank"&gt;&#xD;
    
          following the laws
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  &lt;/a&gt;&#xD;
  
         , tracking the accounting, and then managing the lease renewal process. We’ll be managing tenant relations and taking care of inspections and maintenance.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           Full-Service Management Means More Money
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
&lt;/div&gt;</content:encoded>
      <enclosure url="https://irp-cdn.multiscreensite.com/7c7e2a3c/dms3rep/multi/A+to+Z+Chicago+Property+Management+-+Solutions+for+Buying%2C+Leasing+and+Selling-min.png" length="154232" type="image/png" />
      <pubDate>Fri, 28 Aug 2020 22:06:00 GMT</pubDate>
      <author>BairdWarner.social@gmail.com (-- -)</author>
      <guid>https://www.bairdwarnerpropertymgmt.com/a-to-z-chicago-property-management-solutions-for-buying-leasing-and-selling</guid>
      <g-custom:tags type="string">investment property,Investment Opportunities,Selling,Chicagoland real estate,Real Estate Buying,leasing and management process,Chicagoland rental property,Leasing,Chicago property management,Full-Service Management</g-custom:tags>
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    </item>
    <item>
      <title>What Can Landlords Do When a Tenant Doesn’t Pay Rent? | Chicago Property Management Help</title>
      <link>https://www.bairdwarnerpropertymgmt.com/what-can-landlords-do-when-a-tenant-doesnt-pay-rent-chicago-property-management-help</link>
      <description>When tenants don’t pay rent on time, things get complicated. As the property owner, your income
stream is interrupted, and you’re left wondering whether it’s simply something that’s been overlooked
or if your tenant is planning to stay in the property without paying right up until the point of eviction.</description>
      <content:encoded>&lt;div&gt;&#xD;
  &lt;img src="https://irp-cdn.multiscreensite.com/7c7e2a3c/dms3rep/multi/What+Can+Landlords+Do+When+a+Tenant+Doesn-u2019t+Pay+Rent_+_+Chicago+Property+Management+Help-min.png" alt="What Can Landlords Do When a Tenant Doesn’t Pay Rent? | Chicago Property Management Help"/&gt;&#xD;
&lt;/div&gt;&#xD;
&lt;div data-rss-type="text"&gt;&#xD;
  
         When tenants don’t pay rent on time, things get complicated. As the property owner, your income stream is interrupted, and you’re left wondering whether it’s simply something that’s been overlooked or if your tenant is planning to stay in the property without paying right up until the point of eviction.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         Proactive communication and positive tenant relationships can help you avoid eviction. When a tenant falls behind, your priority is to help that tenant get caught up. The eviction process in Illinois is cumbersome and often expensive. The courts in Chicagoland are tenant-friendly when it comes to evictions, especially now, when so many people are struggling economically in the wake of the pandemic.
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         We have some ideas for what you can do when tenants aren’t paying.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           Establish a Rent Collection Process
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         Your rent collection policy must be clear, fair, and consistently enforced. The lease agreement should state how much rent is due, when it is due, and how it is to be paid. The lease also needs to reflect any consequences for late rent, such as late fees. If there’s a grace period, make sure you include that as well.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         If a tenant is late paying rent, follow the established practices in your rent collection policy. Charge the late fees, follow up with the tenant, and then take the necessary steps towards eviction.  
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           Communicate with Your Chicagoland Tenants
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         When rent isn’t paid, step one is to reach out to your tenants. Maybe the rent was simply forgotten or a minor financial issue means they’ll be paying in a day or two. That’s good news.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         Be prepared to work with payment arrangements or payment schedules if your tenants have a larger issue and request more time. You should still apply late fees and you should still move forward towards the eviction process so that option is available to you, but giving the tenants an opportunity to catch up with the rent will work best for all parties. You’ll avoid a vacancy and your residents will avoid an eviction.
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           Evicting a Tenant in Chicago
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         Sometimes, you’re not going to be able to work with your tenants to get the rent paid. In these situations, eviction is often your only remaining option.
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         We recommend you hire a
         &#xD;
  &lt;a target="_blank" href="https://www.bairdwarnerpropertymgmt.com/management-services"&gt;&#xD;
    
          professional Chicagoland property management company
         &#xD;
  &lt;/a&gt;&#xD;
  
         when you need to evict. This is because there’s a lot of room for error, and those mistakes will be expensive. If forms aren’t filled out correctly and the wording in a notice isn’t right, you can find your case thrown out, and you’ll have to start again.  
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
&lt;/div&gt;</content:encoded>
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      <pubDate>Fri, 21 Aug 2020 21:25:34 GMT</pubDate>
      <author>BairdWarner.social@gmail.com (-- -)</author>
      <guid>https://www.bairdwarnerpropertymgmt.com/what-can-landlords-do-when-a-tenant-doesnt-pay-rent-chicago-property-management-help</guid>
      <g-custom:tags type="string">professional Chicagoland property management company,Proactive communication,Evicting a Tenant,Rental Property Management,Rent Collection Process,Tenant Eviction,Chicagoland property management company,Rent Payment,professional property management company,Rent Collection,Chicagoland Tenants,Arlington Heights property manager,Tenant Relationship,Communication</g-custom:tags>
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        <media:description>main image</media:description>
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    </item>
    <item>
      <title>Keeping Up with Changing Federal &amp; Chicago, Illinois Property Management Laws and Regulations</title>
      <link>https://www.bairdwarnerpropertymgmt.com/keeping-up-with-changing-federal-chicago-illinois-property-management-laws-and-regulations</link>
      <description>Before you begin looking for a tenant and collecting rent checks, make sure you’re familiar with all the
laws and requirements that pertain to your investment. If you’re not sure about the law, make sure to
talk to a professional Chicagoland property manager or an attorney.</description>
      <content:encoded>&lt;div&gt;&#xD;
  &lt;img src="https://irp-cdn.multiscreensite.com/7c7e2a3c/dms3rep/multi/Keeping+Up+with+Changing+Federal+%26amp%3B+Chicago%2C+Illinois+Property+Management+Laws+and+Regulations-min.png" alt="Keeping Up with Changing Federal &amp;amp; Chicago, Illinois Property Management Laws and Regulations - Article Banner"/&gt;&#xD;
&lt;/div&gt;&#xD;
&lt;div data-rss-type="text"&gt;&#xD;
  
         Renting out a property in Chicago means following all the state, federal, and local laws that dictate the relationship you have with your tenants and the habitability standards you must meet. It’s easy to make a mistake, and legal mistakes are often expensive. We see a lot of self-managing landlords make mistakes because they don’t know the law or they don’t know how it applies to their property.
         &#xD;
  &lt;br/&gt;&#xD;
  
          
         &#xD;
  &lt;br/&gt;&#xD;
  
         Before you begin looking for a tenant and collecting rent checks, make sure you’re familiar with all the laws and requirements that pertain to your investment. If you’re not sure about the law, make sure to talk to a
         &#xD;
  &lt;a target="_blank" href="https://www.bairdwarnerpropertymgmt.com/management-services"&gt;&#xD;
    
          professional Chicagoland property manager
         &#xD;
  &lt;/a&gt;&#xD;
  
         or an attorney.
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           Federal Laws: Fair Housing and ADA
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         Most of the federal laws that affect renting out your property are related to fair housing, discrimination, and credit reporting rules. The main law you need to concern yourself with is the Fair Housing Act. This law sets up protections for seven tenant classes. You aren’t allowed to discriminate against anyone based on race, color, religion, national origin, sex, familial status, or disability.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         The best way to ensure you’re following all fair housing laws is to treat everyone consistently and to develop written policies. You should have standard rental criteria, checklists, and processes in place. Fair housing laws now include service animals and emotional support animals. You’ll need to know how those differ from pets.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         The Fair Credit Reporting Act is also specific about what you can and cannot do with the personal and financial information you collect not only from your current tenants but from those who applied for your home and were denied.
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           State and Local Laws: Security Deposits
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         The Security Deposit Return Act sets forth the requirements for security deposits in Illinois, but the laws in Chicago are even stricter. The local Chicago law is the Residential Landlord and Tenant Ordinance (RLTO). This law requires you to pay interest on your tenant’s security deposit every year, and you also have to return it within 45 days of your tenant moving out. You must keep the deposit separate from your own funds and provide receipts for any money that was used to pay for damage after the tenant moves out.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         The penalties for violating a tenant’s security deposit rights are pretty steep, and you can also be held responsible for their attorney fees.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           HOA Rules and Regulations in Chicagoland
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
&lt;/div&gt;</content:encoded>
      <enclosure url="https://irp-cdn.multiscreensite.com/7c7e2a3c/dms3rep/multi/Keeping+Up+with+Changing+Federal+%26amp%3B+Chicago%2C+Illinois+Property+Management+Laws+and+Regulations-min.png" length="238711" type="image/png" />
      <pubDate>Fri, 14 Aug 2020 22:24:26 GMT</pubDate>
      <author>BairdWarner.social@gmail.com (-- -)</author>
      <guid>https://www.bairdwarnerpropertymgmt.com/keeping-up-with-changing-federal-chicago-illinois-property-management-laws-and-regulations</guid>
      <g-custom:tags type="string">Laws and Regulations,Arlington Heights property management,Property Management Law,Professional Property Manager,Fair Housing,Arlington Heights property management companies,Professional Property Management,Security Deposits,State Laws,Chicagoland Property Management Team,Local Laws,HOA Rules and Regulations,Federal Law,ADA</g-custom:tags>
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        <media:description>main image</media:description>
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    </item>
    <item>
      <title>Why Out-of-State Real Estate Investors Depend on Local Chicago Property Managers</title>
      <link>https://www.bairdwarnerpropertymgmt.com/why-out-of-state-real-estate-investors-depend-on-local-chicago-property-managers</link>
      <description>We work with a lot of investors who own property in Chicagoland but live elsewhere. Maybe you’re just a few hours away or maybe you’re out-of-state. Either way, you’re going to need a local Chicago property manager who can lease, manage, and maintain your home effectively.</description>
      <content:encoded>&lt;div&gt;&#xD;
  &lt;img src="https://irp-cdn.multiscreensite.com/7c7e2a3c/dms3rep/multi/Why+Out-of-State+Real+Estate+Investors+Depend+on+Local+Chicago+Property+Managers-min.png" alt="Why Out-of-State Real Estate Investors Depend on Local Chicago Property Managers - Article Banner"/&gt;&#xD;
&lt;/div&gt;&#xD;
&lt;div data-rss-type="text"&gt;&#xD;
  
         We work with a lot of investors who own property in Chicagoland but live elsewhere. Maybe you’re just a few hours away or maybe you’re out-of-state. Either way, you’re going to need a
         &#xD;
  &lt;a href="https://www.bairdwarnerpropertymgmt.com/management-services" target="_blank"&gt;&#xD;
    
          local Chicago property manager
         &#xD;
  &lt;/a&gt;&#xD;
  
         who can lease, manage, and maintain your home effectively.
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         As an out-of-state owner, you’re looking for more than specific services; you also need peace of mind.  
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           Choose a Local Chicagoland Property Management Team
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         The first and most important thing to do is choose a property management partner. You need a local expert who understands the rental market in Chicagoland and its surrounding communities. When you have an experienced and proactive management team, you won’t have to worry about:
         &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;ul&gt;&#xD;
    &lt;li&gt;&#xD;
      
           Long and expensive vacancies while you’re waiting for your property to rent.
          &#xD;
    &lt;/li&gt;&#xD;
    &lt;li&gt;&#xD;
      
           Emergency maintenance issues that require an urgent response.
          &#xD;
    &lt;/li&gt;&#xD;
    &lt;li&gt;&#xD;
      
           Overdue or unpaid rent and serving notices to delinquent residents.
          &#xD;
    &lt;/li&gt;&#xD;
    &lt;li&gt;&#xD;
      
           Bad tenants leading to lease violations, criminal activity, or property damage
          &#xD;
    &lt;/li&gt;&#xD;
    &lt;li&gt;&#xD;
      
           Turnovers between tenants that require cleaning, repairs, and marketing.
          &#xD;
    &lt;/li&gt;&#xD;
  &lt;/ul&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         Your property managers will be close by to help with everything from leasing to inspecting to maintaining your home.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;b&gt;&#xD;
    &lt;font&gt;&#xD;
      
           Technology and Property Management Software
          &#xD;
    &lt;/font&gt;&#xD;
  &lt;/b&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  
         As a long-distance investor, you’ll need to stay connected to your management company and your rental property. A
         &#xD;
  &lt;a href="https://www.bairdwarnerpropertymgmt.com/2017/05/25/chicagoland-professional-property-management-the-benefits-of-working-with-baird-warner" target="_blank"&gt;&#xD;
    
          good management company
         &#xD;
  &lt;/a&gt;&#xD;
  
         will provide an online portal where you can check in on how your property is performing physically and financially. Your online platform will provide copies of inspection reports and uploaded photos. You should be able to review maintenance requests and invoices. You can check for things like rent payments and deposits.
          &#xD;
  &lt;br/&gt;&#xD;
  &lt;br/&gt;&#xD;
  &lt;div&gt;&#xD;
    
          Updated accounting statements and reports should be provided, as well as any information you might need about tenants moving in, tenants moving out, preventative services like pest control and landscaping, and anything else pertaining to your investment. You can even send messages to your management team and ask any questions that you may have.
           &#xD;
    &lt;br/&gt;&#xD;
  &lt;/div&gt;&#xD;
  &lt;div&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/div&gt;&#xD;
  &lt;div&gt;&#xD;
    &lt;b&gt;&#xD;
      &lt;font&gt;&#xD;
        
            Trust the Process and Judgment of Your Chicago Property Managers
           &#xD;
      &lt;/font&gt;&#xD;
    &lt;/b&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/div&gt;&#xD;
&lt;/div&gt;</content:encoded>
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      <pubDate>Fri, 07 Aug 2020 21:47:09 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/why-out-of-state-real-estate-investors-depend-on-local-chicago-property-managers</guid>
      <g-custom:tags type="string">Professional Property Management,Out-of-state,Chicago property manager,Chicagoland rental property,Technology,Local Chicago Property Managers,Real Estate Investment in Chicago,Chicagoland Property Management Team,Real Estate Investors,Property Management Software</g-custom:tags>
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        <media:description>main image</media:description>
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    </item>
    <item>
      <title>Pros &amp; Cons of DIY vs. Professional Property Management in Chicago</title>
      <link>https://www.bairdwarnerpropertymgmt.com/pros-cons-of-diy-vs-professional-property-management-in-chicago</link>
      <description>Self-management often seems like a good way for rental property owners in Chicagoland to save money. 

In fact, it could cost you more. Professional property management is the best way to earn more and spend less on your investment. It also provides an extra layer of protection for you. Renting out a home comes with a lot of risk and liability.</description>
      <content:encoded>&lt;div&gt;&#xD;
  &lt;a&gt;&#xD;
    &lt;img src="https://irp-cdn.multiscreensite.com/7c7e2a3c/dms3rep/multi/Pros+%26+Cons+of+DIY+vs+Professional+Property+Management+in+Chicago-min.png" alt="Pros &amp;amp; Cons of DIY vs. Professional Property Management in Chicago"/&gt;&#xD;
  &lt;/a&gt;&#xD;
&lt;/div&gt;&#xD;
&lt;div data-rss-type="text"&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;span&gt;&#xD;
      &lt;br/&gt;&#xD;
    &lt;/span&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;span&gt;&#xD;
      
           Self-management often seems like a good way for rental property owners in Chicagoland to save money. 
          &#xD;
    &lt;/span&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    
          In fact, it could cost you more. Professional property management is the best way to earn more and spend less on your investment. It also provides an extra layer of protection for you. Renting out a home comes with a lot of risk and liability. 
         &#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    
          We understand the benefit of managing your own home: you get to be in complete control of rent, maintenance, and your tenants. You can avoid management and leasing fees. It sounds appealing, especially if you like to make your own repairs and develop relationships with your tenants. 
         &#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    
          However, there are so many headaches and hassles that are involved, especially when you’re juggling your own career, family responsibilities, and personal passions. Professional
          &#xD;
    &lt;a href="https://www.bairdwarnerpropertymgmt.com/management-services" target="_blank"&gt;&#xD;
      
           Chicagoland property management
          &#xD;
    &lt;/a&gt;&#xD;
    
          is almost always a better option. 
         &#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;span&gt;&#xD;
      &lt;b&gt;&#xD;
        
            Chicagoland Property Management Systems and Experience
           &#xD;
      &lt;/b&gt;&#xD;
    &lt;/span&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    
          Self-management means tackling all the potential issues that will arise during the leasing and management process. You’ll need to know how to market your vacant property and screen potential tenants without violating any fair housing laws. You’ll need to have a great list of vendors who are willing to complete maintenance and repair work quickly, and for a reasonable price. You’ll have to figure out how to manage your accounting and what you’ll do when a tenant doesn’t pay rent. 
         &#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;a href="https://www.bairdwarnerpropertymgmt.com/management-services" target="_blank"&gt;&#xD;
      
           Professional Chicago property managers
          &#xD;
    &lt;/a&gt;&#xD;
    
          have systems in place that have been tried, adjusted, and perfected over many years. Our experience is invaluable, especially when it comes to things like emergency repair issues in the middle of the night or evictions or property damage. We know what to do because we’ve done it before. 
         &#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    &lt;br/&gt;&#xD;
  &lt;/p&gt;&#xD;
  &lt;p&gt;&#xD;
    
          Your property manager will have relationships and networks with vendors, insurance experts, and attorneys. We invest in technology, which delivers online rental payment systems and transparent, accurate accounting statements. Our tools and resources far exceed those of a DIY landlord. It makes the rental process easier and more pleasant for you and your tenants. 
         &#xD;
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            Treating Your Chicagoland Rental Property Like a Business 
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          It’s easy to get emotionally involved in your rental property. This is your investment, and it’s worth a lot of money. Sometimes it’s difficult for self-managing landlords to take a step back from the emotions and deal with the property like it’s a business. For example, they might form friendships with their tenants, which will make it difficult to enforce the lease or collect overdue rent. Self-management can really blur the important boundaries that need to be in place. 
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          With professional property managers, you know that every decision is being made based on what’s best for you and your property. We protect the condition of your investment and we make sure it is performing the way it should. There’s no emotional connection for us when it comes to your property, and that allows us to work more effectively and efficiently. 
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           What Can a Professional Property Manager for Chicagoland Investors?
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            Routine visual inspections of your property during month four and month ten of the tenancy. This allows us to check for deferred and unreported maintenance, and it also helps us make sure the lease is being followed. 
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            Detailed move-in and move-out inspections to document the condition of your home.
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            Immediate delivery of Pay or Vacate notices when tenants don’t pay rent.
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            Detailed and transparent monthly accounting reports so you can follow the income and expenses associated with your property.
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           If you’ve tried self-management and you know that a professional Chicago property management company can do better, 
          &#xD;
    &lt;/span&gt;&#xD;
    &lt;a href="https://www.bairdwarnerpropertymgmt.com/contact-us" target="_blank"&gt;&#xD;
      
           contact us
          &#xD;
    &lt;/a&gt;&#xD;
    &lt;span&gt;&#xD;
      
            at Baird &amp;amp; Warner. We’re here to help.
          &#xD;
    &lt;/span&gt;&#xD;
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&lt;/div&gt;</content:encoded>
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      <pubDate>Fri, 24 Jul 2020 20:55:12 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/pros-cons-of-diy-vs-professional-property-management-in-chicago</guid>
      <g-custom:tags type="string">Chicago property manager,Arlington Heights rental management,Arlington Heights property management,Chicago property management company,Chicago property management companies,Baird &amp; Warner Property Management,Chicago rental management,Chicago property management,Arlington Heights property management companies,Arlington Heights property manager,Arlington Heights property management company</g-custom:tags>
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    <item>
      <title>How to Handle Maintenance and Repairs in My Chicagoland Rental Property – Management Tips</title>
      <link>https://www.bairdwarnerpropertymgmt.com/2017/06/14/handle-maintenance-repairs-chicagoland-rental-property-management-tips</link>
      <description />
      <content:encoded>&lt;h2&gt;&#xD;
  
                  
  Document Repairs with Written Requests

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                    Ideally, it is best for your lease to address how repair requests are to be made. You should have your lease require that maintenance requests are done in writing. This could be a text message or an email that illustrates what the problem is. Having that in writing will eliminate confusion, document when you received the request, and help you manage and organize your own to-do list. If you can get the tenant to include photos of the problem or the item that needs to be fixed, that’s even better.
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  Property Management Chicagoland: Choose Vendors

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                    If you have any questions about handling rental property maintenance or rental property management in Chicagoland, please 
    
  
  
                    &#xD;
    &lt;a href="/contact-us/" target="_blank"&gt;&#xD;
      
                      
    
    
      contact us at Baird &amp;amp; Warner Property Management.
    
  
  
                    &#xD;
    &lt;/a&gt;&#xD;
  &lt;/p&gt;&#xD;
&lt;/div&gt;</content:encoded>
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      <pubDate>Wed, 14 Jun 2017 17:15:00 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/2017/06/14/handle-maintenance-repairs-chicagoland-rental-property-management-tips</guid>
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      <title>What if My Tenant Doesn’t Pay Rent? Chicagoland Property Management Advice</title>
      <link>https://www.bairdwarnerpropertymgmt.com/2017/06/07/tenant-doesnt-pay-rent-chicago</link>
      <description>Landlords are always concerned about what happens if a tenant doesn’t pay rent, and it’s understandable to ask these questions. Today, we’re telling you what we do as a Chicagoland property management company when one of our tenants is late with rent payment.
Check Your Lease
The first thing you need to do is check your lease and find out the particulars. In the majority of the leases we see, tenants know that their rent is due on the first of the month, and then there is a grace period until the fifth of the month. So, if the sixth rolls around and you still don’t have rent from your tenant, we recommend that you go out and deliver a Five Day Notice. 
Five Day Notice 
The Five Day Notice is delivered to the tenant, and then the tenant has five calendar days to bring their account current including any late fees. If they do that, great. The problem is solved, there is nothing more to do, and everything goes back to status quo. If they do not pay, our recommendation is to immediately start the eviction process. Contact an attorney who is experienced in landlord and tenant law, and get that process started. If you’re not comfortable delivering a Five Day Notice, hire a professional process server. These things can sometimes become confrontational, so it’s often a good idea. That process server will also know how to properly serve the notice. He or she will follow the tenant to and from work, wait for them to come back from the grocery store, and pick an opportune time to deliver the notice. Understand that the legal proceedings cannot go any further until the notice is received by the tenant. 
If you have any questions about this process or you need help with a rental property in Chicagoland, please contact us at Baird &amp; Warner Property Management.</description>
      <content:encoded>&lt;h2&gt;&#xD;
  
                  
  Check Your Lease

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      The first thing you need to do is check your lease and find out the particulars. In the majority of the leases we see, tenants know that their rent is due on the first of the month, and then there is a grace period until the fifth of the month. So, if the sixth rolls around and you still don’t have rent from 
      
    
    
                      &#xD;
      &lt;a href="/2017/05/31/find-best-tenants-chicagoland-property/" target="_blank"&gt;&#xD;
        
                        
      
      
        your tenant
      
    
    
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      &lt;/a&gt;&#xD;
      
                      
    
    
      , we recommend that you go out and deliver a Five Day Notice. 
    
  
  
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  Five Day Notice

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      If you have any questions about this process or you need help with a rental property in Chicagoland, please 
      
    
    
                      &#xD;
      &lt;a href="/contact-us/" target="_blank"&gt;&#xD;
        
                        
      
      
        contact us
      
    
    
                      &#xD;
      &lt;/a&gt;&#xD;
      
                      
    
    
       at Baird &amp;amp; Warner Property Management. 
    
  
  
                    &#xD;
    &lt;/span&gt;&#xD;
  &lt;/p&gt;&#xD;
&lt;/div&gt;</content:encoded>
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      <pubDate>Wed, 07 Jun 2017 22:59:00 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/2017/06/07/tenant-doesnt-pay-rent-chicago</guid>
      <g-custom:tags type="string" />
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      <title>How to Find the Best Tenants for Your Chicagoland Property</title>
      <link>https://www.bairdwarnerpropertymgmt.com/2017/05/31/find-best-tenants-chicagoland-property</link>
      <description>We are always asked how to find good quality tenants for properties. Our belief is that it’s all about the Chicagoland tenant screening process. When we are screening, we look at five things: credit, criminal, income and employment, identity, and rental history if it applies. 
Tenant Screening Chicagoland: Ratios
We use ratios to qualify the tenants who apply for our properties. For income, we look for a ratio of 35 percent of the tenant’s gross monthly income. That means if a tenant makes $5,000 per month, you multiply that by .35 to get $1,750. As long as the rent is at or below $1,750 per month, the tenant will qualify on an income basis. With debt, we look for a 50 percent debt ratio. So, take that same $5,000 per month and multiply it by .5. You want to include the rent for the property because that’s a new debt the tenant is taking on. So, as long as rent and debt make up no more than 50 percent of a tenant’s gross income, you should be okay.  
Tenant Screening and Risk Mitigation 
While we try to rely on our ratios, these things are never etched in stone. In some circumstances, there are situations that arise and we know that otherwise good tenants have some ratios that don’t work out. For example, a tenant might have recently gone through a short sale or a foreclosure. Perhaps there was an ugly divorce or a tenant was out of work for a while. These things can impact debt and debt ratios. So, you’ll want to protect yourself by asking for an additional security deposit, or collecting some prepaid rent in advance of signing a lease. It’s all about minimizing your risk.  
If you have any questions about finding a tenant or anything pertaining to Chicagoland property management, we’d be happy to be a resource for you. Please contact us at Baird &amp; Warner Property Management.</description>
      <content:encoded>&lt;h2&gt;&#xD;
  
                  
  Tenant Screening Chicagoland: Ratios

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      We use ratios to qualify the tenants who apply for our properties. For income, we look for a ratio of 35 percent of the tenant’s gross monthly income. That means if a tenant makes $5,000 per month, you multiply that by .35 to get $1,750. As long as the rent is at or below $1,750 per month, the tenant will qualify on an income basis. With debt, we look for a 50 percent debt ratio. So, take that same $5,000 per month and multiply it by .5. You want to include the rent for the property because that’s a new debt the tenant is taking on. So, as long as rent and debt make up no more than 50 percent of a tenant’s gross income, you should be okay.  
    
  
  
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  Tenant Screening and Risk Mitigation

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      If you have any questions about finding a tenant or anything pertaining to 
      
    
    
                      &#xD;
      &lt;a href="/owner/management-services/" target="_blank"&gt;&#xD;
        
                        
      
      
        Chicagoland property management
      
    
    
                      &#xD;
      &lt;/a&gt;&#xD;
      
                      
    
    
      , we’d be happy to be a resource for you. Please 
      
    
    
                      &#xD;
      &lt;a href="/contact-us/" target="_blank"&gt;&#xD;
        
                        
      
      
        contact us
      
    
    
                      &#xD;
      &lt;/a&gt;&#xD;
      
                      
    
    
       at Baird &amp;amp; Warner Property Management. 
    
  
  
                    &#xD;
    &lt;/span&gt;&#xD;
  &lt;/p&gt;&#xD;
&lt;/div&gt;</content:encoded>
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      <pubDate>Wed, 31 May 2017 23:06:00 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/2017/05/31/find-best-tenants-chicagoland-property</guid>
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      <title>The Benefits of Working with Baird &amp; Warner for Professional Property Management</title>
      <link>https://www.bairdwarnerpropertymgmt.com/2017/05/25/chicagoland-professional-property-management-the-benefits-of-working-with-baird-warner</link>
      <description />
      <content:encoded>&lt;div data-rss-type="text"&gt;&#xD;
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                    Baird &amp;amp; Warner has been in real estate since 1855. We are a family owned and operated business with strong ties to our community. Today, we are sharing some of the best reasons to work with us when you need 
    
  
  
                    &#xD;
    &lt;a href="/owner/management-services/" target="_blank"&gt;&#xD;
      
                      
    
    
      professional property management in Chicagoland
    
  
  
                    &#xD;
    &lt;/a&gt;&#xD;
    
                    
  
  
    .
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  Full Service Management

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                    We are a full service company. Whether this is a short term venture for you or a long term investment, we have all the real estate and management services that you’ll need under one roof. We can handle property management, residential sales, mortgages, and title issues. You won’t have to juggle relationships with multiple companies throughout the lifecycle of your 
    
  
  
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    &lt;a href="/prospective-owners/" target="_blank"&gt;&#xD;
      
                      
    
    
      real estate investment
    
  
  
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    &lt;/a&gt;&#xD;
    
                    
  
  
    .
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  Consistent Policies and Procedures

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                    We have processes and procedures in place that cover everything from tenant screening, tenant move ins, repairs, and tenant move outs. More importantly, we follow them. Everything is done consistently and with the necessary documentation.
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  Transparency and Risk Management

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                    We are all about transparency. From screening to repairs, we share everything with you so you know that everything is accounted for. We wish we could guarantee the perfect tenant, but that’s impossible. So, we do our best to minimize your risk. That might mean asking for a higher security deposit, or collecting prepaid rent from a tenant. In any event, we want to make sure you are comfortable with the decisions we make. Our eviction rate is low. We have done fewer than 12 evictions since 1999, because we are careful to place only the best tenants in your property.
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  Property Management Chicagoland: Education

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                    We are always improving ourselves with continuing education. As members of the National Association of Residential Property Managers (NARPM), we have access to additional resources and training so we can stay on top of the leasing and property management fields.
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      <pubDate>Thu, 25 May 2017 01:12:00 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/2017/05/25/chicagoland-professional-property-management-the-benefits-of-working-with-baird-warner</guid>
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      <title>Happy 4th of July!</title>
      <link>https://www.bairdwarnerpropertymgmt.com/2016/06/30/happy-4th-july</link>
      <description>July 4th weekend office hours: 
Friday, July 1st – Close at 5pm
Saturday July 2nd – 9am till 3pm
Sunday July 3rd – Closed
Monday July 4th – Closed</description>
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        July 4th weekend office hours:
      
    
    
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      <pubDate>Thu, 30 Jun 2016 17:41:00 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/2016/06/30/happy-4th-july</guid>
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      <title>It’s Summertime!</title>
      <link>https://www.bairdwarnerpropertymgmt.com/2016/05/26/267</link>
      <description>Just a few more days of school and Memorial Day Weekend is here!  Happy Summer!  Just a reminder that the Baird &amp; Warner Property Management office in Naperville is open until 7pm if you need to drop off your rent checks.
Have a fun and safe holiday weekend!  Thank those who are serving and have served our country!</description>
      <content:encoded>&lt;div data-rss-type="text"&gt;&#xD;
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                    Just a few more days of school and Memorial Day Weekend is here!  Happy Summer!  Just a reminder that the Baird &amp;amp; Warner Property Management office in Naperville is open until 7pm if you need to drop off your rent checks.
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                    Have a fun and safe holiday weekend!  Thank those who are serving and have served our country!
                  &#xD;
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&lt;/div&gt;</content:encoded>
      <pubDate>Thu, 26 May 2016 16:31:00 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/2016/05/26/267</guid>
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      <title>Spring Forward!</title>
      <link>https://www.bairdwarnerpropertymgmt.com/2016/03/11/spring-forward</link>
      <description>It’s that time of year — Daylight Saving Time.  Remember to move your clocks forward Saturday night before you go to bed.  Enjoy the longer days and warmer weather!</description>
      <content:encoded>&lt;div data-rss-type="text"&gt;&#xD;
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                    It’s that time of year — Daylight Saving Time.  Remember to move your clocks forward Saturday night before you go to bed.  Enjoy the longer days and warmer weather!
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      <pubDate>Fri, 11 Mar 2016 22:46:00 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/2016/03/11/spring-forward</guid>
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      <title>Spring is on the Way!</title>
      <link>https://www.bairdwarnerpropertymgmt.com/2016/02/16/spring-is-on-the-way</link>
      <description>It might not feel like it today but the Ground Hog predicted an early spring!  With temperatures warming up to the 50s this weekend, it’s exciting!  Please be mindful the thawing temperatures can cause water issues!
 </description>
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                    It might not feel like it today but the Ground Hog predicted an early spring!  With temperatures warming up to the 50s this weekend, it’s exciting!  Please be mindful the thawing temperatures can cause water issues!
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      <pubDate>Tue, 16 Feb 2016 21:38:00 GMT</pubDate>
      <guid>https://www.bairdwarnerpropertymgmt.com/2016/02/16/spring-is-on-the-way</guid>
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