7 Things Every Landlord Should Know Before Hiring a Property Manager

⭐️ From our veteran-owned team at BCG Real Estate Group, serving Chicago’s hottest up-and-coming neighborhoods since 2018, including Wicker Park, Humboldt Park, West Town, and Ukrainian Village. Here’s what you need to know!

Hiring the right property manager is one of the most important decisions a landlord can make. Whether you own a single rental or a growing portfolio, the wrong partner can cost you time, money, and long-term value. At BCG Real Estate Group, we manage over 150 units across Chicago’s most competitive neighborhoods (at the time of this writing). We also own and invest in rental properties ourselves. These are the key things every landlord should understand before handing over the keys.

1. Your Property Manager Should Think Like an Owner

Plenty of property managers know how to collect rent or call a plumber. Fewer understand how to protect the long-term value of an investment property. At BCG, we’ve been investing in multi-family real estate since 2008. We’ve managed full gut renovations, handled refinancing, and built portfolios from the ground up (primarily for ourselves). That experience shows up in how we screen tenants, structure leases, and recommend improvements. We’re not managers who became owners. We’re owners first, and that shapes everything we do. We’re more invested in our market than any of our clients.

2. Communication Is Everything

Landlords want clear updates. Tenants want fast responses. Both need a property manager who knows how to communicate. We set up every client with a dedicated point of contact and provide monthly reporting so there are no surprises. For tenants, we respond to all maintenance requests within an hour and have emergency support available 24/7. Every service call gets tracked, timestamped, and followed up on. We also provide tenants with online portals to handle rent payments, lease documents, and service requests. Better communication leads to fewer problems and stronger retention.

3. Vacancy Time Is Lost Money

Every day your unit sits empty, you’re losing income. The average turnover time in Chicago is around two to three weeks. At BCG, we generally see four days or less. That’s because we pre-list units before tenants move out, use real-time pricing data, and advertise across all major rental platforms. We coordinate showings seven days a week and keep lockboxes active to reduce scheduling delays. Over the last decade, we’ve consistently maintained vacancy rates 2 percent lower than the market average while still matching or exceeding average rent increases. Our system prioritizes both fill speed and rent growth.

4. Leasing Isn’t a Profit Center

Unlike many management companies, we don’t rely on high leasing fees to drive revenue. We do charge for leasing, but our fees are below market. We’re not incentivized to turn over units just to pad margins. Our goal is to keep good tenants in place, reduce unnecessary turnover, and stabilize cash flow for our clients. We also keep you informed of upcoming renewals and provide a clear plan to handle them in advance.

5. Full-Service Means Streamlined, Not Scattered

Some companies offer limited services or charge extra for basics like lease renewals or maintenance follow-up. We don’t work that way. Our management services cover everything from leasing and tenant screening to emergency repairs and capital planning. We use RentButter for comprehensive background checks, handle lease agreements from start to finish, and schedule preventative maintenance to avoid costly issues. While we don’t offer rehab management for client properties, we do coordinate strategic capital improvements to keep buildings modern and competitive.

6. Values Matter More Than Sales Pitches

Plenty of companies talk a good game. The real test is how they show up when things go wrong. At BCG, we operate with a set of values that comes directly from our background as Army, Navy, and Air Force veterans. We believe in doing the right thing, being accountable, and taking good care of people. That includes property owners, tenants, vendors, and neighbors. If you’re going to trust someone with your asset, you deserve to know they’ll treat it with care and consistency.

7. Local Market Knowledge Adds Real Value

Understanding how to manage property is one thing. Understanding the rental market in specific neighborhoods is another. We specialize in areas like Humboldt Park, Ukrainian Village, Wicker Park, and West Town. These are high-demand but often misunderstood areas. Knowing what attracts top-tier tenants, how to time a listing, or what rent concessions are common can make a big difference. We also keep tabs on zoning changes, school district shifts, and ward-level developments. That context helps our clients stay ahead of the curve.

8. Ask About Portfolio Size and Retention

A large property management company might sound impressive, but size can come at the cost of service. Many companies manage thousands of units with overloaded and overworked staff. At BCG, we intentionally limit the number of properties we take on. This keeps service levels high and communication direct. Our landlord retention rate is over 95 percent. We have long-term relationships with many clients who live out of state or serve in the military. Our approach is focused, transparent, and built for consistency over volume.

Hiring a property manager is not just about finding someone who can place a tenant or coordinate a repair. It’s about choosing a team that understands what it takes to run a profitable, low-stress rental property. At BCG Real Estate Group, we bring years of investing experience, strong systems, and a values-first approach to every property we manage.

If you’re looking for a management partner in Chicago who knows the neighborhoods, respects your investment, and delivers dependable results, we’d be glad to talk.

📍 Serving Wicker Park, West Town, Humboldt Park, Avondale, Logan Square, Ukrainian Village
📧 info@bcgrealestategroup.com
📞 773‑207‑4787
🌐 bcgrealestategroup.com