Property Management Blog

By Mark Ainley

Legal Update for Landlords: Illinois Smoke Detector Act

Updates to the Illinois Smoke Detector Act became effective on January 1st, 2023. As noted in the Act:“…the smoke detectors required in such dwelling units may be either: battery powered provided the battery is a self-contained, non-removable, long term battery&helli...

By Mark Ainley

FHA Loan Limits for 2023 (Breaking News)

Are you considering an FHA loan to purchase or refinance a home in 2023? If so, it's essential to understand the new FHA loan limits for the year. Knowing the loan limits can help you plan your finances and ensure you don't borrow more than you can comfortably repay. In t...

By Tom Shallcross

A Recap of RE Journal’s Chicago CRE Forecast Event

RE Journal recently hosted the 21st annual Chicago Real Estate Forecasting Conference. It was a great event with several hundred attendees and numerous accredited speakers. For those who were not able to attend, below are a few tidbits that may assist you as you progress in 2023....

By Mark Ainley

The Pros and Cons of Getting a Real Estate Broker's License

If you’re interested in Chicago real estate investing as your primary or secondary career, it may be tempting to get a real estate broker’s license and start selling property right away. But what are the pros and cons of getting licensed, and what does it take ...

By Mark Ainley

HCV or Section 8: How to get help with your rent in Chicago and Surrounding Suburbs

Rent can be expensive, and you might feel like there’s no way to afford it without signing up for a housing subsidy program like HCV, or Section 8 Voucher as it is also known. If you are struggling to pay your rent and need help, this guide will show you how to find and app...

By Mark Ainley

What is Underwriting and What are Some General Underwriting Assumptions?

What is Underwriting? From a lender or investor’s perspective, underwriting is the process of determining an asset’s market value by analyzing the current operations and projecting the property’s future cash flow and net operating income (NOI). Financial project...

By Mark Ainley

The Fair Housing Act – Ensuring Everyone Has a Place to Call Home

The Chicago Fair Housing Regulations prohibit housing discrimination on the basis of race, color, sex, gender identity, age, religion, disability, national origin, ancestry, sexual orientation, marital status, parental status, military status or source of income. See Munici...

By Mark Ainley

Why You Should Invest in Chicago Real Estate

The last year I had the opportunity to speak with Emil Shour and Michael Albaum, who work at a real estate investment company called Roofstock. During our conversation, we talked about investing here in the Chicago real estate market. I think listeners will find this discussion e...

By Mark Ainley

Passive Income, The Income Generated with Little Effort.

Passive income is money you make while you sleep. It's great because it's easy to set up, and it doesn't require much maintenance once it's running. It differs from active income – a job for example – which requires specific performance in order ...

By Kevin Cawley

Here's What You Need To Know About Cost Segregation.

Cost segregation is a tool for tax planning that is commonly used by commercial property owners. By using cost segregation—separating out fixed costs from other construction costs—an owner can view how quickly a property depreciates, therefore allowing them to reduce ...