Find a condo management professional near Elgin, IL

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Find a condo management professional near Elgin, IL

100+ near you

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3. GC Realty & Development LLC
4.7
from 17 reviews
4.7
(17)
IN HIGH DEMAND
  • 15 years in business
  • 32 hires on Thumbtack
"I am so happy with the services provided by GC Realty that I almost want to keep them my little secret. But I love these guys so much, I want to support the growth of their business in any way I can. I have been a small-scale investor/landlord for almost 20 years. For 15 years, I was a DIY landlord. So, I know what it takes to do every part of the process. I was blown away at how much I have learned from them in the past 4 months. I am simply giddy with joy. About 5 years ago, we decided to outsource our property management and leasing. I did extensive research and called references. The legwork didn’t help me. The first company was so bad, we fired them within 6 months. The second company was great in the beginning, but when our portfolio manager left the company, we realized that she was what made it great, not the company. The company didn’t have systems in place to ensure excellence. After she left, her replacements would let non-payment slide for months and months. It would take them 6 months to lease a unit and months to get repairs done. With GC Realty, things are done so fast! We recently purchased 3 distressed SFH within a month of each other. GC helped broker the purchase, manage the rehab and find the tenants. So far, we leased 2 of the houses before the work was complete and it looks like we will do the same on the last house. Usually doing 1 rehab is stressful enough, but working with GC, even doing 3 at the same time was fun. The turnaround time to completion was fast, they did high quality work, and the costs were significantly lower than what we had experienced in the past. They are smart, knowledgeable, experienced, fun, great human beings, fast, responsive and they have a good team in place with systems to support consistent processes and services. If you are an experienced investor, you will recognize their value instantly. If you are a new investor, working with them will help you deal with the fear most new investors experience. They also manage to strike the perfect balance between providing advice based on their extensive experience and respecting our strategy and preferences. They are also investors themselves. They have skin in the game. They have their own portfolio and understand what is important to investors because they know first-hand what is important to them. Working with them is a partnership that I appreciate very much. "

Q & A

Answers to commonly asked questions from the experts on Thumbtack.

What does a property management company do?

Property management companies manage the rental of residential homes, apartments, condos, commercial spaces and retail spaces. Property managers can oversee just a single unit or many properties, whether those sites are inhabited full-time or are vacation rentals. A property management company helps a property owner or landlord find tenants; collects rent; takes care of accounting, property maintenance and repairs; handles on-site management; and manages vacation rental check-in and checkout tasks. Although many property owners or landlords successfully manage their own rental real estate, a property management company can help you handle tenant issues and maintenance problems, especially if you are not located in the same city or state. Most property management companies deal with tenants directly, and their tasks include:

  • Marketing the rental property
  • Collecting rent
  • Handling repair problems
  • Responding to tenant complaints
  • Evicting tenants  

A property management company may be a good choice for property owners who have several investment properties, live far away from the rental property, or don’t have time for hands-on management.

Why is property management important?

A property management company can be a landlord’s greatest asset. As a neutral third party, the property manager handles the day-to-day operations of a real estate investment, from a single vacation home to a large apartment building or several rental properties. A property management company can be especially helpful to landlords who own several units and can’t manage each of them individually, or those who live too far from their investment properties to meet with renters and oversee maintenance. Property management is particularly important if your rentals are part of an affordable housing program. To receive financial assistance from the government, the landlord must comply with a complicated set of rules; property management companies should have both experience and expertise in complying with the rules specific to each housing program.

Do property managers need to be licensed?

The licensing requirements for property managers vary from state to state, but many states require property managers to have a real estate broker’s license and in some cases be a legal resident of a state. Property management may not be specified in a state real estate statute, but according to the Institute of Real Estate Management their activities may include advertising the availability of a rental property, discussing a property management agreement with an owner, negotiating leases, showing a rental property and collecting rents.

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