Connected Management Blog

Helping condominium board members run a successful community.

How to Increase Rental Revenue in 2021

upward arrow How to Increase Rental Revenue in 2021 Last year was a tough one for everybody, including landlords. If you own rental property, you were most likely hit with a loss of income. As millions of people were laid off from work due to COVID-19, it became basically impossible to travel to vacation rental properties as well as pay monthly rental payments. Help was provided by the federal government, but it has not been nearly enough to make up for revenue losses or help for everyday people. For rental property owners, 2021 will hopefully be a better year. One way to...
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Online Assessment Payments: The Future is Now

credit card Online Assessment Payments: The Future is Now Years ago, the only way to pay HOA dues was to mail in a check or provide payment in person. Today, technology changes has made it possible for residents to make their payments online and most prefer this method. For condominium board members, a qualified Chicago condo management company can easily provide this service, helping owners to make payments on time and online. As the coronavirus pandemic continues to be an issue, it seems that online payments are growing, providing a secure and immediate form of payment in a social distancing world. Keeping...
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Topmost Profitable Moves Rental Property Owners Can Make

money jar Topmost Profitable Moves Rental Property Owners Can Make A successful rental property owner will typically invest in more homes and create good business practices that enhance their ability to turn a profit. It takes hard work and constant dedication to be successful. But what else does it take? What moves can you make as a rental property owner to be more profitable? Check out a few tips below that when practiced regularly will help you to see even greater success. Look Further Than Rental Rates When you are planning to purchase a new rental property, calculating the rental rate of...
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Increasing Rent: How to Go About Raising Prices For your Property

increase Increasing Rent: How to Go About Raising Prices For your Property If you are a condominium rental property owner, you are leasing your facility to make money. Over the years, you may offer a set price only to find the market has changed. When a property is located in a hot area, the rental price can be increased which helps you to earn more for your condo. But how do you go about increasing the rent, especially with long-standing tenants? Weighing the pros and cons is important in order to make the right business decision for an increase in property...
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New Year Property Management Checklist

sparkler New Year Property Management Checklist A new year is approaching quite fast and it’s time to check your apartment for some upcoming renovations or maintenance. If you’re working with a property management company in Chicago, they can handle all of these items for you. Below you’ll find a list of a few things that need to be done on your building as the new year approaches. Check Filters – This may be part of your regular maintenance agreement as the building owner. If not, make sure your tenants are changing out their filters for any HVAC unit they may have....
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