Owner FAQ's
Answers to your common questions
Do you send out monthly statements regarding my investment property? How do I receive communication?
Each month, we prepare an earnings and expense report for you, and populate it to your secure online Owner Portal. If there are immediate issues regarding your property, we’ll call, email and/or text you to discuss the best options for correcting the problems.
How does Grid 7 Properties handle evictions? What are the costs involved?
We thoroughly screen every applicant to make sure the tenant you select for your property is financially qualified. Unfortunately, situations can arise in life for even the best qualified tenants. There are several circumstances that occur before an eviction is served, including continued non-payment of rent, a failed repayment plan, and/or failure to communicate by the tenant. At that point, the non-paying tenant is detrimental to the profitability of the unit, and swift legal action becomes appropriate and necessary.
We work with multiple Real Estate attorneys who are experienced in eviction proceedings. The overall cost varies depending on which county the property is located in, and how far the eviction process must be taken. Costs are handled on a case-by-case basis, and we keep you up-to-date on all developments during the process.
We work with multiple Real Estate attorneys who are experienced in eviction proceedings. The overall cost varies depending on which county the property is located in, and how far the eviction process must be taken. Costs are handled on a case-by-case basis, and we keep you up-to-date on all developments during the process.
Do you provide lawn care and snow removal?
Yes. We typically promote the idea of tenant responsibility for lawn care and snow removal. In cases where this is not possible, or the property contains multiple units, we will coordinate these two tasks on your behalf.
Do you have your own maintenance crew, or do you contract the work out?
We have developed trusted partnerships with a core group of experienced contractors who we work to insure the maintenance on your investment property is handled promptly and professionally. All of our contractors offer competitive rates and are fully insured and licensed as required by law.
What is the maximum repair amount Grid 7 Properties will spend without contacting me?
We provide Maintenance Software that will alert you to any Maintenance issues in your property. You may set an approval amount for your property, with most Owners at a $300 to $500 threshold. If the repair or replacement is complex or exceeds your approval amount, we will first contact you for a thorough discussion of the problem and what the repair will entail before proceeding.
How does Grid 7 Properties approach vacancy marketing?
It’s in our best interest to get your property rented, because we don’t get paid unless the vacancy is filled. With your authorization, Grid 7 Properties can market the vacancy on our website and the MLS to 3rd Party Realtors, as well as other rental websites such as Homes.com, Apartments.com, etc. We use all available methods of screening and background checks to ensure quality tenants for your property.
Which locations in the Chicago suburbs does Grid 7 Properties service?
With our Main Office in Algonquin, IL we are centrally located and manage over 600 properties in many of the Chicago suburbs. Please check the "Suburban Chicago Cities We Service" section of our Property Management page to see if your property falls within our coverage - or you may call us at 800.581.2471 or email us at info@grid7properties.com today!
