Connected Management Blog

Being a landlord in Chicago entails more than just receiving rental payments from your tenant. Chicago's Residential Landlord and Tenant Ordinance (RLTO) governs both the legal obligations of landlords and protects tenants. Comprehending the RLTO will not only keep you compliant as a landlord, but also save you from unnecessary costly disputes and help you become a successful landlord. What is the RLTO, and Who Must Comply? The RLTO applies to most rental properties in Chicago, including residential landlords and property managers. However, there are a few exemptions, which include smaller owner-occupied buildings and limited non-residential units. Nonetheless, recent amendments to...

Today, condo boards find themselves hard-pressed to run operations effectively while keeping the residents engaged and the budget under control. With the advent of cutting-edge digital solutions, boards no longer have to deal with time-consuming everyday activities on their own. Going digital not only saves the precious time of boards but also enables them to take advantage of lower costs and improved communication between boards and residents. Undeniably, technology is revolutionizing condo property management like never before while equipping boards with smarter, financially savvy options. 1. Centralized Communication & Owner Portals Gone are the days of paper notices and scattered emails....

Being a part of a condo board is a highly complex job that is rewarding but comes with its fair share of challenges. A key dilemma for board members is to strike a balance between resident needs and upholding property values, both of which are critical for a smoothly functioning community. However, a number of recurring obstacles stand in the way of the most dedicated boards in pursuit of their responsibilities and duties.  Therefore, it's crucial to understand the most common condo board property management challenges and how they can be tackled so that boards can work to their full potential....

The end of summer marks the beginning of a critical task for those involved in condo boards- preparation for the upcoming budget. Of all board activities, budgeting is undoubtedly the trickiest and complicated, but it is key to keeping your building up and running while earning the trust of your owners.  Here’s a step-by-step guide to give you the confidence to master budget season, whether you self-manage a board or work with a property management partner. 1. Review Current Financials and Reserve Funds Scan your year-to-date financial statements to assess whether your operating budget is still on track or your reserves...

Small details are frequently forgotten, especially if the problems seem like they need to be more urgent. But, a buildup of these little issues will inevitably result in more serious ones. If you're still unsure as to why keeping properties in the best shape through Chicago property management is essential, keep reading as we go over the primary benefits of it: Protected Property Value Property is a form of investment bought with the hope that its value will increase overtime. If you decide to sell it in the future, a well-kept property will generate more interest and sell for more money...