Why should I use a professional to manage my property?
- While the reasons our clients choose professional property management vary, here are some of the key reasons many people elect professional management over self-management:
- We handle maintenance and emergency repairs allowing you to sleep at night.
- We enforce collection of rents and serve the proper notices upon failure to pay.
- We understand and apply the correct federal, state and local laws, keeping you and your property out of trouble.
- We know the local market, have an extensive network of contacts and have advertising resources available to us at discounted rates. This allows us to effectively market your property to prospective residents to get it filled.
- We are partners with you in the whole process. We’ve been in the property management business since 1999 and our experience both professionally and personally with rental property brings a level of knowledge and fortitude that you just cannot find anywhere.
What needs to be done to my property before it is tenant ready?
- The better condition of the property, the better quality tenant it will attract. We require that your property be left in clean condition, preferably done professionally. The carpet, dryer vent and fireplace must be professionally cleaned and all debris including personal belongings removed from the property.
The tenants are generally requested to maintain the yard in the condition it is provided to them. Therefore, the yard should be freshly mowed, weeded, trimmed and the leaves and debris removed.
If your property is in Cook County, it is a requirement that all locks be re keyed.
How will you find tenants for my property? How long will it take?
- Your property, along with photos, will be in our MLS (Multiple Listing Service) in which 40,000 realtors have access. It will also be posted on additional websites. If appropriate and allowed through homeowner associations, a yard sign will be placed as well.
It normally takes 30-45 days to rent a property depending on the time of year. Once we receive the necessary paperwork, the property goes on the list of available properties.
How does Baird & Warner Property Management communicate with their owners?
- We believe in prompt, thorough and transparent communication with our clients. Every property manager has their own cell phone, voice mail and email. We send out monthly statements in an effort to keep clients informed. We will initiate communication in the following instances:
- Tenant non-payment of rent
- Rental applications for review
- Notice to vacate from tenant
- Lease renewals
- Maintenance items over $500
How much can my property rent for?
- Your rent rate is going to be determined by several market factors including the condition of the property, location and the competition in the immediate area. It’s all about supply and demand!
Can Baird & Warner Property Management help me buy or sell my property?
- Through our affiliation with Baird & Warner Residential Sales, we can assist you in the acquisition and disposition of the property. Should you have an established relationship with another REALTOR, we can assist you by working with them to make the process a smooth one.
How are security deposits handled?
- Baird & Warner Property Management will require security deposits, usually an amount equal to one month’s rent, from all residents. These funds are held in a separate escrow account at an insured U.S. Bank. Security deposits cannot be disbursed until the tenant vacates the property. At that time, it can only be disbursed to the owner or the resident.
Can I enter my property after it is rented?
- We do not enter the property and recommend that the owner not enter the property except in emergency situations or when repairs have been requested by the resident. Baird & Warner Property Management will conduct interior inspections of the property at the 4th and 10th-month mark of the lease. History has shown that repeated disturbances prompt residents to become unhappy and not be as willing to renew their leases. We usually try to give the resident 24 hours notice before we enter unless it is an emergency situation.
How much notice does a tenant have to give before they can properly vacate a property?
- Our lease provides that the tenant give a minimum 60-day written notice.
What does Baird & Warner Property Management need to start managing my property?
- In order for us to begin the process of managing your property, we need the following:
- Executed property management agreement
- Keys to the property, including mailbox keys if applicable
- Garage door openers, if applicable
- Additional insured authorization form (authorizing Baird & Warner Property Management to be added as an additional insured on your rental insurance)
- IRS W9
- Lead Based Paint Disclosure if the property was built prior to 1978.
- Copy of the Home Owners Association Rules & Regulations and Declarations if applicable
- $500 to fund the required owner maintenance account. This account is to handle any minor repairs or issues to the property as they arise during the course of our agreement.
How do I pay management fees?
- Management fees are deducted from your monthly equity distributions.
Will you pay my monthly bills for me?
- We are able to pay some bills out of the rental income on your behalf. We do NOT pay property tax bills or mortgages.