Are Apartments Better in Lakeview or Lincoln Park?

There are a lot of great neighborhoods in the Windy City. There are many that offer great views and amenities, but two popular and trendy neighborhoods that are both family-friendly and great for young millennials are Lakeview and Lincoln Park. These neighborhoods, sitting right to the north of downtown and below Evanston and Rogers Park, offer Michelin star restaurants, tons of parks, and access to Lake Shore Drive.

But, which of those neighborhoods have the best apartments? Because there are a variety of factors that go into deciding which neighborhood will be best for you, we’re going to do a deep-dive into the apartment types, amenities, and show you a few great apartments that we love! 

What Are You Looking for in an Apartment?

Before we look at both neighborhoods, it’s important to know what you want in both a neighborhood and an apartment. 

Lakeview and Lincoln Park have similar qualities that make them great, but there are also differences that can impact the reason someone might want to choose to live there. They both offer trendy, comfortable, and historic sectors that make them ideal neighborhoods to grow and settle in. But what else makes Lakeview and Lincoln Park two of the best neighborhoods in Chicago to live?Let’s take a look at what each of these great neighborhoods has to offer. 

Lakeview vs. Lincoln Park

It’s the battle of the middle-upper class neighborhoods. Lakeview is known for its Boystown nightlife, Wrigleyville stadium, and family-friendly west side area. Lincoln Park is known for the DePaul campus, Lincoln Park Zoo, and trendy restaurants and shops. In order to differentiate the two, we’re going to have to break down their prices, shopping options, updates, and amenities. 

Price

While Lakeview and Lincoln Park both fall under the middle class to upper class range, they differ slightly based on location. Lincoln Park is generally a more expensive place to live due to its great school system, safety, and amenities. Lakeview generally falls under two categories: East and West. The closer you are to Lake Michigan and Wrigleyville (East), the more you can expect to pay for an apartment.

Lincoln Park doesn’t quite fall under these same categories. This neighborhood itself is a bit more expensive than Lakeview no matter where you’re at. The residential, collegiate areas of Lincoln Park–by DePaul– is where you’ll want to go if you want to save some money. Closer to Lake Michigan and Lincoln Park is where the historic row houses are and they are going to be pricey. 

Shopping

Both neighborhoods offer great shopping centers, but Lincoln Park wins for this category. North and Clybourn shopping, located slightly southwest in the Lincoln Park neighborhood offers stores, restaurants, and groceries that Lakeview can’t quite match. Lakeview does have Southport and Wrigleyville which are comparable, but the stores are slightly smaller and offer fewer options. 

Updates

Lincoln Park currently has an upgraded historic feel–especially near the DePaul campus, but high-rises are being built frequently. Lakeview is also constantly getting updates, especially in the Boystown/East Lakeview area. These neighborhoods are trendy, so there will always be new buildings and updated restaurants and shops. 

Amenities 

Because both neighborhoods are very similar, you can expect to find similar amenities. Restaurant life in these two neighborhoods are very dense, which can be a plus for young millennials. Nightlife, grocery stores, and gyms can also be found in many areas, so there is always going to be something to do. 

Parks 

Because Lakeview and Lincoln Park are northern neighborhoods, parks are vast and can be found on nearly every block. Here are a few common parks for each neighborhood:

Lakeview:

  • Sheil Park
  • Hamlin Park
  • Wiggly Field Park

Lincoln Park:

  • Lincoln Park
  • Clover Park

Crime Rate 

Both Lakeview and Lincoln Park crime rates are rated the same. Generally, these two neighborhoods are considered safe and have minimal dangerous crime. A big reason these two neighborhoods are so popular among millennials is because of the safety factor; they are great neighborhoods for young people in their 20s and for growing families in their 30s.

Lakeview Apartments

We have looked at the neighborhood amenities that both Lincoln Park and Lakeview offer, but what about the actual apartments? If you’re going to be looking for an apartment in these neighborhoods, you will want to know what your options are. 

Types of Apartments

Apartments that are most common in Lakeview include:

  • Studios
  • 1 bedrooms
  • 2 bedrooms
  • 3 bedrooms
  • 6-flat 
  • Duplex Condos

What is Available?

If Lakeview is the neighborhood for you, we have a great apartment. Check out our Melrose apartment listing here

Lincoln Park Apartments

If Lincoln Park has piqued your interest, you’ll want to know the ins and outs and have a great rental guide for Lincoln Park apartments. Let’s look at the different types of apartments Lincoln Park has to offer. 

Types of Buildings

Apartments that are most common in Lincoln Park include:

  • Studios
  • 1 bedrooms
  • 2 bedrooms
  • 3 bedrooms
  • 6-flat 
  • Duplex Condos

Which Neighborhood is Best?

After breaking down each neighborhood by amenities, buildings, and pricing, are apartments better in Lakeview or Lincoln Park? Well, based on the information, Lakeview is the winner. Lakeview offers a bit more variety when it comes to culture, restaurant choices, and apartment options.

The pricing in Lakeview is also less expensive giving you a lot more choice. Lakeview also has Boystown, Wrigleyville, Southport, and Belmont which is great for young, trendy millennials. There’s a ton of fun options in this neighborhood which is why it’s the winner for us. 

However, keep in mind that choosing an apartment and area is completely personal and individual! You may want less nightlife, and more architectural diversity, so Lincoln Park will be more suited to your needs. Make sure to find a great real estate management group that can help you find exactly what you want! 

How SRE Holdings Can Help! 

At SRE Holdings, we want to help you make the best decisions when it comes to renting or buying your apartment! We know and love Chicago, so we feel we are perfectly qualified to help you live your best life here. 

We have Lincoln Park and Lakeview properties that we know you’re going to love! 

Lincoln Park Property:

  • 1900-1916 N Lincoln, 312 W Wisconsin

Lakeview Property:

  • 658 W Aldine
  • 654 W Wellington Ave

Contact us today to get started on your journey in the Windy City. 

Posted in Property Management | Leave a comment

Important Questions to Ask When Apartment Hunting

Whether you have moved or are planning to move, it’s always smart to know what are important questions to ask when apartment hunting. Especially in a big city like Chicago, there are so many options available when it comes to apartments. Do you want a condo, a duplex, a one bedroom, or a studio apartment? Knowing what you want before you rent an apartment makes you not only a smarter shopper, but a better tenant. Landlords and property managers price their units based on what they know renters want out of an apartment, so it’s always a good idea to be prepared and ask questions. In this article, we will give you a few important questions you need to ask yourself before you sign the lease. 

What Can You Afford?

Let’s begin with the most important question you should ask yourself before you go apartment hunting: how much are you able to spend on an apartment? If you only work part-time, it may be unrealistic to expect a lakefront, top floor apartment. Be realistic when it comes to apartment hunting because, very often, landlords will increase the price of their apartments either after you sign the lease, or after your lease ends. It’s important to understand what affects the price of apartments so you have the understanding of where to look first. 

What Affects the Price of Apartments?

 There are a lot of factors that go into the price of an apartment. Knowing what they are and why they matter can help you to determine what factors you find important for an apartment. 

Location

Arguably the factor that has the biggest impact on price is going to be location. An apartment in Lincoln Park will be more expensive than an apartment in North Park. Is this always the case? No, there are exceptions, but for the most part, you can estimate that more often than not, you will be paying more for an apartment in Lincoln Park than you will be in North Park. Location itself is pretty vague. There are subcategories that go under location such as nearby public transportation, crime in the area, schools, and shopping. Once you know your budget, you will need to look at locations that work within that number. 

View

A factor you wouldn’t necessarily think about when looking at apartment prices is view. Apartments in Chicago that overlook Lake Michigan are significantly more expensive than ones farther west. People pay top dollar for views. 

Floor Level

Floor levels, like views, also play a part in how expensive your apartment is. An apartment that is on a top floor is generally more expensive due to the views, lower noise, and less interaction with bugs. Higher-leveled apartments also tend to be more windy and can be an annoyance with bringing items up and down if there is no elevator, so that is something to be aware of. 

Updates

If there are any updates on the property or neighborhood around the property that would increase the value, you can expect to pay a higher amount for the apartment. Property managers know that updated apartments will go for higher, therefore if you want to pay less, you might want to look at an older building. 

What Apartment Amenities are Important?

Like any of the above factors, apartment amenities will affect how much an apartment is leased for. Generally, the more amenities that are available, the higher the price tag. Amenities should always be chosen based on how important they are to your lifestyle, so knowing this before you go to rent is smart. For instance, if you aren’t a swimmer, renting an apartment in a complex that has a swimming pool most likely won’t be for you. Here is a list of common apartment amenities that renters usually look for.

  • Fitness Centers
  • Business Centers
  • Balconies
  • Laundry Room
  • Swimming Pool
  • Childcare Center 
  • Public Transportation
  • Parking

Tip: Make a list of amenities you want and that fit your lifestyle the best before looking for an apartment. Knowing what amenities you want and your price range will make narrowing down apartments a lot easier. 

What are the Hidden Fees To Look Out For?

A big question you need to ask yourself when apartment hunting is: can I afford the hidden fees? And what are they? Knowing there’s more money involved other than the month-to-month cost of the apartment, will save you from pinching pennies later. We have broken down a few fees that you may not have thought to budget into your apartment hunt. 

Application Fee

The application fee can take a lot of people by surprise. Landlords will often charge possible tenants this fee in order to do a background and credit check. This fee can cause issues and landlords aren’t required to refund this fee even if you don’t get the apartment. Be sure to ask if you can get a refund and how much it costs before it’s done. A normal fee should be between $30-$50. 

Pet Deposit

If you don’t have a pet, you won’t have to worry about this, but if you do, you will want to be aware that landlords can require you to provide a pet deposit. This is due to the chance that your animal might cause damage to the unit. 

Security Deposit

A security deposit is a common fee that landlords require that gives them money to fix or change anything you may have done to the unit while you were there and that could negatively impact future renters. This can also be a tricky fee. It’s a good idea to take lots of pictures when you first move in to ensure you get your deposit back. 

Renter’s Insurance

Many landlords will require their tenants to purchase rental insurance so that they aren’t held liable in case of a fire or leak. This is a good idea for any tenant, though, in order to protect valuable assets. 

Moving Costs

There are always costs to moving that you might not even realize will add up; these can be things like gas, U-Hauls, boxes, or professional movers. It’s always good to plan ahead and prepare for these moving costs. 

Utilities/Cable & Internet

Aside from the month-to-month payments, you need to remember that utilities and the internet will affect how much you can afford, as well. Depending on the size and location of your apartment, utilities with cable and internet can cost almost as much as the apartment itself. 

Our goal is to make sure you find your dream apartment. Contact us today so we can help make that dream a reality and head to our blog tab in order to learn more from us about what look for in apartments. 

Posted in Property Management | Leave a comment

What Does a Property Management Company Do?

Rental Property Management Companies

Rental property management companies offer a variety of beneficial services for real estate investors. In sum, they have the responsibility of maintaining a positive condition for their residents and must meet the needs of occupants. Basically, a rental property management company covers all the necessary operations for a rental space. This includes addressing concerns a tenant may have, marketing the property, showings and communication, rent collection, and more.

If you’re a landlord you might be wondering, “Do I need to hire a property management company?” There is no one right answer, as this decision will be dependent on your current skills, financial goals, time availability, and more. Overall however, a rental property management company can be a great asset to your business.

In this article, we will be discussing the benefits of hiring a rental property management company, selecting the right company in the Chicago area, and review some available apartments for rent in Chicago. 

Property Management Chicago

A property management company in Chicago would be a great choice for you if you meet some or all of the following points:

  • You have multiple rental properties. The more properties you have, the more likely it is you will need a professional to help manage all of them. 
  • You do not have enough time to actively manage the property. Routine maintenance and daily actions need attention, and if you are a landlord who uses rent as a passive income while working on other projects, you might not have enough time to keep up. 
  • You prefer to not be an employer. Hiring a resident manager requires responsibilities like payroll and legal obligations. Instead, when you sign an agreement with a property management company, those working at the company are not your employees but instead independent contractors
  • You live far away from the asset. It will be difficult to attend the property if it is located far away from where you yourself live. 
  • You can afford the payment. When interviewing various companies, be prepared to hear quotes ranging from 5% to 10% of your rent revenue. However, this varies depending on what services are used. 

 

 

There are numerous benefits to working with a property management company in Chicago – such as SRE Holdings. An experienced management company like SRE Holdings will give you know-how when it comes to rent collection from tenants, maintaining the property through regular inspections, dealing with defaulters or evictions, and recording everything that happens at the property. Importantly, they are actually the ones who source potential tenants and ensure that proper screening is done before moving forward. 

To help you out, here is a list of 4 tips you should follow when choosing the right property management company in Chicago:

  • Specific experience: If you own a house, you don’t want a company that focuses on warehouse rentals. Instead, you want to find companies in the Chicago real estate field that suit your niche. 
  • Credentials: In the state of Illinois, it is required that one must be a licensed real estate broker or have a leasing agent license to be a property manager. 
  • Price: The price they request must comply with the average industry standards. If it is more, then you should ask what additional services are being offered to compensate. 
  • List of References: Ask the company for a list of their previous/ current references and contact them. That way you can get an honest opinion on how the property manager will perform and if they are suitable for your interests. You can also look for online reviews, ask colleagues, or your local apartment association. 

SRE Holdings

When searching for property management companies in Chicago, SRE Holdings is a great option against a pool of competitors. Our representatives are available to assist you with any and all concerns. The success of our work can be demonstrated in various testimonials from both landlords and renters. From strong customer service to efficient communication, the SRE Holdings team will be there to cater your needs. 

Apartments for Rent in Chicago

If you are looking for a place to rent in Chicago, you should first narrow down and set a budget. The city ranks in the top 5 most expensive places in the nation, so consider what you can afford and study the contract of agreement well including utility costs. Next, you want to choose the right neighborhood based on your work or academic institution. The difference in cost between one neighborhood and the next is extreme, and thanks to the transit system, it’s easy to get around – so use this to your advantage. 

Third, you should consider the best time to rent – that is, when prices are at their cheapest. Based on a study conducted by Renthop, the peak happens around September and October then becomes cheapest around March and April. In addition to this, you should visit the place in person to ensure that you get what the online photos depict – and make sure to take required documents like drivers license, proof of income, etc.

Pay attention to any damage and if the landlord agrees to repair a floor part or wall before you move in, make sure you get it on paper. Lastly, educate yourself on what you are entitled to as a tenant. In case you feel your rights were violated, you can always reach out to the Chicago Metropolitan Tenants Organization (MTO) Hotline service. If you face an issue after moving in, like not having hot water, make sure to contact your landlord as soon as possible. 

Here is one example of currently available apartments for rent in Chicago. Offered by SRE Holdings, the Rockwell Commons property is located on N. Rockwell St. in the 60625 area. This property is close to the Brown line, bus stops, as well as shopping and dining areas. Floor plans are going for $1,000 which is a great price relative to other deals. With easy to fill out online rental applications, you can move in as soon as possible – so what are you waiting for? Contact us at SRE Holdings today!

Posted in Property Management | Leave a comment

When is the Best Time to Look for Apartments in Chicago?

Apartments in Chicago

Are you looking for an apartment in Chicago? Well, luckily for you, here at SRE Holdings, LLC, we put the needs and concerns of our customers first, responding quickly and efficiently. In this article, you will learn about some of the apartments we manage in Chicago, and how to find cheap apartments. 

How to Find Apts Near Me

At SRE Holdings, LLC, we will help guide you through your rental process journey, making it a simple and stress-free process. Our top priority is to make sure that you end up in an apartment that is perfect for you and your individual needs. As a property management company, we make sure that the apartment buildings are well taken care of. Now that you know a little bit about who we are, let’s look at some of the apartments that we manage. Maybe one of them will be your future home!

We have a variety of properties all around Chicago. Some of our properties include properties at Rockwell Commons, Lincoln, Sheridan, and Wellington. At Rockwell Commons, there are a few different options to choose from, ranging from a 0-bedroom, 1- bath, 500-square-foot apartment (commonly called a studio), to a 3-bedroom, 2-bath, 1,000-square-foot apartment. Our Lincoln Park apartments are located on the north side of Chicago and go on for about 7 miles.

The Sheridan Square properties range from 2-bedroom, 1-bath to 3-bedroom, 2-bath apartments. Wellington is a beautiful area that combines the historical aspects of Chicago and the trendiness of the Lakeview neighborhood. As units become available at these various properties, you will be able to view them on our website. 

Cheap Apartments 

Of course, no one likes to pay an exuberant amount of money for anything. Apartments are no exception! The cost of living can be quite high, depending on where you live and what kind of lifestyle you live. So, how can you find an affordable apartment? Well, before jumping right in to finding the cheapest apartment option, there are some things in general that you should know before apartment hunting in Chicago. Yes, cheap apartments are great, but you don’t want to be tricked into a scam or live in a tiny apartment with horrible conditions just for a cheap price.

So, here are some things you should be aware of during your apartment search, specifically in Chicago: start searching for apartment weeks before your desired move-in date, get to know the area, be aware of scams and make sure the properties are legitimate, and factor in travel costs. Once you have a more realistic idea of what apartment hunting in Chicago is like, start thinking seriously about how much money you are willing to or can afford to spend on your living situation. 

Finance experts suggest that your rent should be no more than 30% of your income. However, for many young people, especially in cities like Chicago, that can be pretty hard to do. So many people are actually spending over 30% of their income just because rental prices are so expensive. For instance, the average rent in the Lincoln Park neighborhood for a 1-bedroom apartment is $1,625 a month. Now it’s time to answer the long awaited question on how to find cheap, affordable housing without compromising your quality of life. 

How to Find Cheap Apartments

Here are some quick tips and tricks on how to find cheap, affordable housing in Chicago. 

Make a List

First, create a list of your must-haves and things you could live without. In other words, what are some deal breakers that you will absolutely not budge on? Here are some factors to consider: commute time, pet policy, in-unit laundry, noise levels, or the smoking policy. All of these aspects of apartment-living are definitely things to consider when trying to cut costs. You never want to live in a horrible situation for the sake of paying a cheap rent. Yes, if the rent is cheap, that’s great; however, sometimes there is an underlying, bad reason as to why the rent is as cheap as it is.  

Consider a Roommate

Second, consider having a roommate. Obviously, having another person live with you means that you will need a bigger living space; however, you might be able to find cheaper options since you will be splitting the cost with another person. If no close family or friends are looking for a roommate, you can always go public with your roommate request and post roommate ads. Of course, safety should be your top priority. To stay safe while posting on public platforms, never respond to anyone who asks you for money or personal information.

Also, verify that the person you are interacting with is a real person, not someone pretending to be someone they are not. Another option if you choose to go down the roommate route is to join Facebook housing groups. There are so many housing groups specific to certain areas. Once you are on those pages, you can stay up to date on any new listings before they go public or meet potential roommates. 

Be Safe

Third, be safe when looking at apartment properties. You should never send money or personal information, like your social security number, to anyone. Always make sure that the deal is legit before making any kind of down payment or else all of your hard work to get an affordable apartment would’ve been all for nothing. There is a huge market for scammers, so be very cautious while looking at apartment properties. When actually visiting the apartment to tour, always meet in a public area and let your friends and family know where you are going and who you are meeting with.

Also, if you are interested in living with a roommate, whether that means they move in with you or you move in with them, make sure you get to know each other before committing to living with one another. 

Our main goal is making sure you are happy where you end renting an apartment. So, if you are looking to live in Chicago and need help with finding the perfect apartment, don’t hesitate to reach out to us today to learn more about our apartments!

Posted in Property Management | Leave a comment

Chicago Apartments for Rent in Lincoln Park

Lincoln Park Apartments

Are you looking for apartments in Lincoln Park? Do you want to know more about what it’s like living in Lincoln Park? This neighborhood is located on the north side of Chicago, Illinois and runs across the shoreline of Lake Michigan for 7 miles. It is home to the largest park in Chicago and is named after US President Abraham Lincoln. The park has tons of recreational activities like beach volleyball courts or rugby fields, multiple statues of historical figures, and a lakefront trail. Overall, the vibrant area always has things to do – from dining, music and entertainment, arts and theater, cultural sites, to shopping, festivals and more – you’ll never run out of options when living in Lincoln Park!

Living in Lincoln Park

As mentioned earlier, there are so many activities to do when living in Lincoln Park. Let’s start with everyone’s favorite – the dining. Located at the heart of Lincoln Park, Boka restaurant is a high end michelin experience serving creative American style cuisines. Another nationally recognized brand, known as Lettuce Entertain You, opened its first restaurant, R.J. Grunts, right across the Lincoln Park Zoo. The Lincoln Park Zoo is one of the oldest zoos in North America and is free of charge. It is home to nearly 200 incredible animals from around the world such as the African Rock Python and the Golden-headed Lion Tamarin. 

Next we have the Chicago History Museum, the perfect place to see and learn more about Chicago’s past via exhibitions with authentic artifacts and documents, tours, and events. Examples of some information available includes the Union Stockyards and Great Chicago Fire. Another great museum is Peggy Notebaert Nature Museum which aims to sustain a positive relationship between humans and nature through education, exhibitions, and programs.

Not too far from the Museum is the Lincoln Park conservatory and botanical garden. Nature lovers will really enjoy escaping around towering palms, ancient ferns, and exotic plants. In fact, there are annual flower shows that occur across their four display houses. The outdoor experience doesn’t stop here when living in Lincoln Park- next up is North Avenue Beach. This is one of Chicago’s most popular beaches with a cabana, restaurant, and rentable jet skis or other watersports. 

Also, during the summer evenings on Wednesdays and Saturdays, you can see the fireworks from the Navy Pier as you lay in the sand. Nearby is Theater on the Lake, which is right at Lake Shore Drive and Fullerton Avenue. Every year contemporary plays are performed here – a historic 1920s building with spectacular sites of the Chicago Skyline and Lake Michigan. 

Looking for places to shop, you say? You’re in luck! There are plenty of independent boutiques and retailers where you can create a custom bag or buy furniture and home goods from Lincoln Park’s Clybourn Corridor. Last, but not least, the music, entertainment, and festival scene in Lincoln park is world class. There have been countless numbers of talented artists performing at concerts in Lincoln Hall. There is also a thriving blues scene. Blues musicians are extremely popular in Chicago, so be sure to check out the Chicago Blues Bar for nightly performances.

It’s important to note that due to the COVID-19 pandemic, many of these places have been temporarily closed or implemented new restriction measures, so be sure to check their respective sites before visiting!

What Apartment Amenities Should You Look For? 

What are some of the must-haves for your next apartment? Some people cannot go without a dishwasher. Others cannot stand the idea of having to search for parking. Perhaps having a washer and dryer in your unit is a necessity. All of these are amenities that are not standard in all Chicago apartments.

Apartment amenities are bonus features that are offered to renters which you may not find everywhere. These can come in the form of community or in-unit apartment amenities. Some in-unit apartment amenities include having a dishwasher, washer or dryer hookup, air conditioning, or balcony space, while some community amenities include a swimming pool, gym, or fire pit.  

So, are apartment amenities free? The short answer to that question is yes. In other words, you aren’t paying a separate fee for them. The long answer is no. Apartment amenities are usually included in the price of your rent. Typically, the more amenities your apartment complex has, the more you’ll be paying in rent. 

As you search for a new apartment, keep in mind what sort of amenities you would like to have, as having some of the amenities will determine if the apartment is right for you. For example, if you are a pet owner, look for an apartment that is pet-friendly. Otherwise, you’ll have to find a new home for your pet. If you don’t like hand washing more dishes than you have to, find apartments that include dishwashers. 

Apartments Near DePaul 

DePaul is a nationally respected private university with a diverse student body coming from different ethnicities and religions. DePaul has two different campuses, one in the Loop and the other in Lincoln Park. We will be considering affordable apartments near the DePaul University Lincoln Park campus.

Most DePaul students enjoy the nightlife and the vibe of Lincoln Park. Many people looking to live in Lincoln Park will turn to SRE Holdings to find out about great apartment options for DePaul students and for others as well.

SRE Holdings 

In case you need more guidance choosing the right apartment for you, here at SRE Holdings we can help you find exactly what you are looking for! We can guide you through the rental application process and help answer any questions or concerns you may have based on years of expertise. 

Our number one goal is for you and anyone else living with you to be happy and secure in your apartment. We work tirelessly to keep our properties in top condition and would love to have you be part of our family. Reach out to us today and we can show you some of the best apartments for you in Lincoln Park.

Posted in Property Management | Leave a comment

Questions to Ask When Looking at Apartments

As any seasoned apartment searcher will know, you may encounter property management companies when you are hunting for your next place to live. However, have you ever thought about why building owners hire these companies and how working with a property management company can benefit you as a renter?

As a side note, there are scammers out there posing as the homeowner or a property management company. To avoid a scammer, be sure to read this article. 

Property Management Companies 

What is a property management company? Property management is when a third party is given the responsibility of appeasing its occupants. Property managers are usually hired by rental property owners and are in charge of daily operations of their real estate assets. They also answer questions or concerns that the tenants might have. 

If the property is vacant, the property manager is in charge of making sure the house is rented. Property management includes marketing vacant space, signing leases, calling for repairs, and anything in between when it comes to caring for rental homes. 

What are property management companies responsible for?

During the course of your lease, you will most likely run into a problem or an issue with your unit or the property that needs to be fixed. Addressing these issues and keeping you satisfied are two of the most important aspects of what a property company does. 

However, what else are they responsible for besides dealing with leaky toilets or clogged drains?

Apartment Repairs

Property management companies, like SRE Holdings, exist so that buildings can be taken care of and any issues can be addressed quickly and efficiently. Do you have a leaky faucet or some other problem that needs to be fixed? When working directly with building owners you are at the mercy of their schedule. Sometimes it may take days or weeks for them to come and inspect your issue. Property management companies will have someone available to help much more quickly. 

Addressing Questions

Building owners are not known for their quick response times. In fact, aside from collecting rent, you may never hear from them. Conversely, a management company wants to make sure that you are happy with your apartment and that you are having all of your issues addressed. Many tenants create good relationships with these companies and both parties can benefit from that. 

How is that? You may ask. Well, many people recognize the importance of working with a reputable and trustworthy company and tend to stick with them, if possible. 

It is quite common to ask your property management company what other properties they work with when moving or when a friend or family member is moving. Then you know that you will be taken care of and your problems will be resolved. 

Other Benefits

Renting from a property management company also allows you to better understand the terms of the lease and what to expect. They are professionals who look out for the building and the property. Landlords have more of a tendency to fly by the seat of their pants. For example, more times than not, a security deposit will be required when signing a lease. Private landlords can charge up to 200% of your rent including a pet fee for a security deposit. Property companies most often will charge one month’s rent. They will then keep that money in an account to prevent any of it from being spent.

When it comes time to move out, you will not need to worry that the owner of the building has spent your money and you may have to fight to try to get it back. 

There are horror stories out there about people losing their security deposits after building owners go bankrupt or sell their property and move away. 

Returning Security Deposits

As was mentioned above, sometimes receiving a refund for your security deposit can be tricky when working with a building owner. A building owner may blame you for normal wear and tear or try to blame you for existing damage. Take photos when you move in! 

A property management company will rarely ever try to take advantage of you. They do their job fairly and will return to you what you are owed.

Reputation

Property companies must rely upon their reputation more often than building owners do. Any property management company with a poor reputation will see themselves go out of business fairly quickly. This provides them a huge incentive to act in good faith and to adhere to any and all regulations or laws. 

Neighbors

We have all had, at one point or another, loud or obnoxious neighbors. Landlords can be swayed into bringing in unqualified tenants because they prefer not to miss out on a month’s rent. However, management companies most often have strict guidelines that they must adhere to in order to lease an apartment to an individual. 

Some of these factors are:

  • Previous payment history
  • Landlord referrals and history
  • Employment status and length of employment
  • Credit score

While some of these factors may make it more challenging to rent an apartment for some. It also makes it more difficult for others to rent an apartment that may not be as respectful of the property or their neighbors. (You!)

Guiding your Apartment Search

At SRE Holdings, we pride ourselves in our ability to create a great living environment for you and your family. We have a number of ways for you to reach us in case of any needed repairs. We have a rapid response for any emergencies as well in order for you to get your life back to normal in case something happens. Our goal is for you to be happy and live in one of our beautiful buildings for years to come. 

As you search for your next apartment, SRE Holdings can help. We are a professional real estate management firm that provides our customers the services they need. Our representatives can answer any of your questions or concerns you might have. Contact us today. 

Posted in Property Management | Leave a comment

What to Ask When Viewing Apartments

So you’ve scoured the internet for Chicago apartment rentals for weeks, and finally narrowed it down to your top choices. At this point, you’ll want to view the apartments. Whether you are looking for a Chicago apartment rental for the first time or you have before, it’s good to prepare questions for your viewing appointments. Asking these questions won’t mean that you don’t have to read the lease or do other research, but getting them answered before you commit can improve your odds of finding the right apartment for you.

Are Utilities Included? How Much Do They Normally Cost?

This might seem like an obvious question, but a lot of people forget to ask. You may have seen some of this information online, but ask for verification when you view the apartment in person. This is especially important if you are new to the area. You might be surprised to learn how much utilities cost for a Chicago rental versus where you used to live. 

The landlord or leasing agent should be able to answer your question with an idea of what similar units pay. Each Chicago apartment rental is different in what utilities will be included or not. Make sure you understand if you’re paying for all of the utilities or just a few. A $1,000 per month apartment with all utilities included could end up being a far better deal than a $850 per month apartment with each utility separately.

What Costs are Required to Move In?

Most landlords will require either the first month’s rent upfront or the first and last month’s rent. A security deposit is also almost always required. Make sure you are able to pay these fees upfront, otherwise you may need to look somewhere else.

What’s Your Application Process and Screening Criteria?

It’s good to know what kind of vetting process tenants go through before they move in. This may give you some assurance about who your neighbors are. It’s also good to prepare yourself for what information they are looking for from you. Instead of guessing, give the landlords the opportunity to lay out the process for you. Clarify if there are any application or screening fees, so you are not surprised. 

What is the Guest Policy?

Some Chicago apartment rentals have policies against long-term guests. If you think you may have someone stay for a long period of time (usually two weeks or more), you should understand what the policy is. This should be outlined in your lease, but it’s best to clarify the terms so you don’t accidentally violate them.

Where Will I Park My Car?

For Chicago apartment rentals, there are many different options for parking. Does rent include access to one or more parking spaces? Are the spots reserved or is it an open lot? If you have roommates, make sure you have enough parking spaces for each of your vehicles. If parking isn’t included in the rent, what are the alternatives? Will you have to park on the street? In nearby garages? Sometimes landlords will tell you street parking is easy to find, when in reality it isn’t. If street parking is what they have to offer, make sure you check it out yourself.

How Do I Pay Rent?

Today, most Chicago rentals and landlords have at least one electronic option for rent payments. However, they may be a convenience fee associated with paying that way. It could range from $1 to $5. That is why it may still make more sense to pay via a handwritten check either delivered to the leasing office or mailed to the landlord.

How Far In Advance Do I Need to Give Notice Before Moving Out?

In most cases, you are required to give between 30-60 days notice before moving out of your Chicago rental. If you don’t give notice in time, your lease might automatically renew or you might lose your security deposit.

Can I Sublet The Apartment? If Not, What is the Penalty for Breaking My Lease?

You never know when your job or personal life might require you to relocate on short notice. In case this happens, it’s a good idea to know your options. Some apartments for rent in Chicago do not allow subletting, considering it a breach of contract. Make sure you know what your options are and what the consequences are of having to break your contract.

Are Pets Allowed? Do You Require a Fee or Deposit?

Many apartments for rent in Chicago advertise as having a “no pets allowed” policy, but will handle exceptions on a case-by-case basis. If there is a pet policy in place, make sure you ask if there are any prohibited breeds, pet deposits, or monthly fees.

Under Which Circumstances Will My Security Deposit Not Be Refunded?

Many tenants do not ask this question before moving into an apartment. They are then shocked when they move out and do not receive their security deposit back. Not cleaning the apartment thoroughly enough upon moving out is sometimes enough for the landlord to keep some of the deposit. A general rule to get your full deposit back is that your apartment should be left the way it was when you moved in.

What is the Procedure for Maintenance Requests?

If your landlord can’t give you a definitive answer to his question, you can probably assume they aren’t great with upkeep and might even ignore your requests. A proactive landlord who will repair things on time is the one you want to rent from. In addition, while you are taking a look around, make note of the condition of the property. This should give you a little bit of insight into the maintenance habits of the landlord.

There are a lot of things to consider when viewing apartments for rent in Chicago. Asking these questions before you get too far into the process will protect yourself. It will also prevent misunderstandings once you have moved in. If you cover all your bases now, you will have less headaches in the future.

Posted in Property Management | Leave a comment

What are the Best Neighborhoods to Live in Chicago?

As you’re doing your apartment searching, have you ever looked into the apartments without giving any heed to the neighborhood around the apartment? If so, after moving in, you might have realized it would have been a good idea to find out what type of neighborhood you now live in. Maybe you discovered you live a distance from the nearest shopping center and don’t own a car. Or you don’t feel safe at night.

Great Chicago Apartments

When choosing your new apartment, paying attention to the surrounding neighborhood is critical to ensure a great living experience. If you don’t like the neighborhood around your living quarters, chances are you won’t like your apartment. Within the city of Chicago, there are several great apartment complexes to look into when choosing your next apartment.

Lincoln Square Apartments

Lincoln Square apartments provide a wide range of apartment sizes, such as studio, 1-bedroom, or 2-bedroom, at various prices. Lincoln Square also provides condos and townhouses if you would prefer or need a larger living space. The Lincoln Square apartments are also in a community with both family homes and apartments, so if you want a mix of both, this apartment neighborhood is certainly one to look into.

Looking for an apartment in the city that still feels homey? This Chicago apartment complex is named after Abraham Lincoln, the 16th President of the United States. Lincoln Square also sits on a one-way street that is traffic-controlled that gives it a small town feel.

Do you enjoy city celebrations and social activities? Lincoln Square is located at the heart of Chicago’s annual Oktoberfest. If you’re looking for something to do in autumn, consider being a part of this Chicago celebration.

If you have kids, and would like to be near schools, there are several elementary and high schools in the area.

Owning a pet also isn’t a problem in most Lincoln Square apartments. Many of the apartments are okay with pets around.

Is transportation an issue for you? Not to worry. Lincoln Square apartments are located near a CTA ‘L’ Brown line stop, where Western and Lincoln Ave meet. This bus is easily accessible for your convenience. If you’re not much of a bus rider, the Lincoln Square neighborhood also has miles of bike-friendly streets. If you own a car, Lincoln Square also provides parking.


DePaul Apartments

Whether you’re a student at DePaul University Lincoln Park Campus, a professional, or a family with children, this neighborhood is a perfect Chicago neighborhood for you. Because of the range of different community members, with both college students and young children, it creates a great neighborhood feeling. The DePaul apartments can be a home to the university students all year round.

These apartments are centered around the DePaul University campus, near the intersection of Lincoln Avenue and Halsted Street, which makes it ideal for students who want to live off-campus, or those who work at or near DePaul University.

Are you interested in community events and venues? The DePaul Art Museum has a great neighborhood art gallery for community members to visit. They frequently showcase work from both DePaul University members and renowned artists from around the world. If you’re looking to brush up on your history or culture, make time to visit the art museum.

Especially if you’re a student, you don’t need to have a car to live in an apartment near DePaul University. The neighborhood offers Fullerton station, which is a transfer point between several of the lines, such as the CTA Red, Brown, and Purple lines. You’re able to get off at the university campus.

So whether you’re looking for a cheaper college apartment, or you’re beginning your family, the DePaul apartments and neighborhood is something to look into.

Lakeview Apartments

Lakeview Chicago apartments offer a variety of apartment sizes and shape, not to mention price. The Lakeview neighborhood offers a range of activities for those who are looking to get out. These include music clubs, fitness centers, baseball, diners, and nightlife. Finding entertainment isn’t an issue in this Chicago neighborhood.

If you’re interested in doing a little bit of exploring, the apartments in Lakeview Chicago are a great choice. They are relatively close to Wrigley Field, the neighborhood’s most famous landmark. Wrigley Field is America’s second oldest baseball stadium. It is one of the many places to visit if you live in Lakeview Chicago. The field can be found at the corner of Addison and Clark. You can also hear the excitement of the park during game days. Wrigley Field is only one exciting factor that Lakeview has to offer its residents
.
In Lakeview Chicago, transportation isn’t an issue. The CTA bus routes operate in the neighborhood. The “L” Red and Brown line trains have stops throughout Lakeview as well. Whether you prefer walking, riding your bike, using public transportation, or driving your own car, Lakeview Chicago has you covered. If you’re looking for a safe area where transportation isn’t an issue, apartments in Lakeview are a great option. Everything you need is in walking distance.

If you’re not a baseball fan, and would rather be around the arts, the Lakeview neighborhood offers the Vic, which is an old school theater in the area. The Vic is a great place for concerts. It also offers more than concerts. They have weekly classic movie screenings, which draw a crowd. So if you have nothing to do, consider heading out and watching a movie with your neighbors. 

Find Your Great Chicago Apartment with SRE Holdings

If you need extra guidance choosing the right Chicago neighborhood to live in as you search for our next apartment, SRE Holdings can help you find exactly what you’re looking for. We are a professional real estate management firm that can help answer any questions or concerns you might have. We have SRE representatives who are always available.

Our goal is for you to be happy in your apartment, which includes feeling secure in your surrounding apartment neighborhood. Reach out to us today, and we can show you the best apartment neighborhoods that are right for you, whether that includes Lincoln Park, DePaul, or Lakeview. We ensure that you’ll be happy in your new apartment when you find the right neighborhood.

Posted in Property Management | Leave a comment

What Factors Influence Rent Prices in Chicago?

Are you looking to rent an apartment in Chicago? Look no further! Here, at SRE Holdings, we will help you find the perfect place to live out of the many apartments that we manage. Our first priority is you, the customer. We want to make sure that you rent from a place that you are proud to call home.

Rent Prices in Chicago

One of the biggest concerns about renting a property is probably the price. Obviously, no one wants to pay an exorbitant amount of money for their home. In this article, you will learn about the cost of living in Chicago, how people are even able to afford living in Chicago, and how to find a good, cheap apartment to rent in Chicago. 

Cost of Living in Chicago

Even though Chicago is the third most populous city in the United States, it actually doesn’t make the top 10 list for most expensive city to live in. According to Move.org, Chicago was ranked as the 15th most expensive city to live in. After analyzing data from the 75 largest cities in the United States, Move.org found that the average monthly cost of living in Chicago was approximately $2,495. They got this number by factoring in the following costs: rent for a one-bedroom apartment, utilities, gas, food, and internet. This is the data that puts Chicago in perspective to other cities in the United States. Now, let’s look at Chicago in relation to other cities in Illinois. 

Back in October 2020, the Zumper Chicago Metro Area Report analyzed rental listings in 12 different metro cities. They ranked their data from the most to least expensive cities to live in. The report concluded that Chicago was the most expensive city to rent a one-bedroom apartment with rent being priced at $1,500 a month. Based on this report of Chicago being the most expensive metro city to live in in Illinois, it brings up the question of “How do people afford to live in Chicago?” 

How Do People Afford the Price of Living in Chicago?

It all starts with a person’s reasons for wanting to live in Chicago. If you truly want to live somewhere, you will do everything you possibly can to make that dream a reality. So, how do people afford to live in expensive cities like Chicago?

Well, one of the main reasons why people are able to afford living in an expensive area like Chicago is by splitting the rent with a roommate, whether it’s a friend or significant other. Also, being smart with how you spend your money on food helps cut some costs. For example, it can be tempting to eat out all the time with so many great food options everywhere.

However, if you choose to cook your own meals, you will definitely save tons of money versus eating out all of the time. Of course, it’s okay to go out occasionally, but in general you should be smart on what you spend your money on. If it’s between eating an extremely expensive meal versus being able to pay rent on time, the obvious answer is making sure you have a roof over your head.

Another way to afford renting in Chicago is by taking public transit or walk places. Why spend the money on a car if the places you need to go are walkable distances away or are accessible through public transportation?

Lastly, no one can stay cooped up in their apartment forever, which begs the question of what can you do for fun without breaking the bank? It’s fun to go out once in a while, but try not to make it an every night, or even every week occurrence. If you choose to do something more expensive once a month, it will help save money and make it all the more special when you do get to spend a night out on the town. And of course there are ways to have fun on a budget or even while staying home. For instance, having a movie night at home is a fun way to relax and unwind from a crazy week.

These are just some ways that people are able to afford living in expensive cities like Chicago. These tips are not only helpful for people in Chicago, but for anyone that wants to save money. 

Cheap Apartments for Rent in Chicago

You are probably wondering what makes apartments so expensive? Well, some factors that impact rental costs include the time of the year, rental market, and location of the property. Basically, you want to be smart about apartment hunting, making sure you get the best deal. Follow these simple tips and tricks in finding cheap apartments for rent in Chicago. 

First, follow the 30% rule. This “rule” is to not spend more than 30% of your income on your rent. In other words, if your rent costs more than 30% of your income, you should look at cheaper options. Just remember that you want to live in a nice apartment, but you don’t want to be breaking the bank to live in a place that you cannot reasonably afford on your income. 

Second, take into account moving fees. It can be pretty expensive to move out of your old place and move into your new place. The costs can start to add up overtime. For instance, hiring movers and a truck if needed can be quite expensive, especially if moving takes longer than you anticipated. Another moving fee that you might not think of is the application fee to all the various apartments that you might be applying to. 

Third, make sure to factor in your commute and transportation cost. It might be cheaper to live further away from your job; however, your transportation cost might make up the cost difference of choosing to live in a pricier apartment, allowing you to cut down on transportation cost. 

As mentioned earlier, here at SRE Holdings, we are a property management company who values our customers. We want to make sure that you get the best deals possible, while living in great apartments in great locations. Reach out to us today if one of our apartment listings catches your eye or if you are searching for an apartment in Chicago. 

Posted in Property Management | Leave a comment

What is a Studio Apartment?

Finding the right apartment for you can be a tedious task. You may have considered renting a studio apartment. You might be wondering, what exactly is a studio apartment? A studio apartment is a single room space, with the exception of the bathroom. A studio apartment could be the perfect apartment living space you want or need. However, it isn’t for everyone, and SRE Holdings can help you find the right apartment

This article will cover what studio apartments are, where to find apartments near you, and where to find apartments in the Chicago area. 

Studio Apartments Near Me

A question that might be on your mind is, what is the difference between a studio apartment and a 1-bedroom apartment? When it comes to a studio and one-bedroom apartment, the biggest difference is the separate bedroom that a one-bedroom apartment has. Which apartment style is right for you can depend on a variety of factors, such as your budget and lifestyle. For example, if you want more privacy, that might sway your preference. When you’re trying to decide which apartment style is right for you, there are a few key components to consider before making your choice:

Privacy

Everyone likes their privacy in one way or another. If you’re thinking about renting a studio apartment, keep in mind that the space is used for sleeping, eating, and hanging out, so there isn’t a lot of room for privacy. In a one-bedroom apartment, the space offers a little more privacy because there’s both a bedroom and a living area, with a door between rooms.  

If you don’t care too much about privacy, or if you don’t use your place for social gatherings, a studio might be the right choice for you. 

In-Unit Amenities

Amenities are basic bonuses you have in your home. With one-bedroom apartments, you have more room for amenities that you wouldn’t be able to fit in a studio apartment. Some of these amenities include a dishwasher, in-unit washer and dryer, closet space, or air conditioning. If you don’t mind going outside your apartment to wash your clothes or having a smaller fridge, you might consider a studio. 

Lifestyle

Lifestyle can influence what kind of apartment you should choose. For example, if you’re more social, you might want to spend more time with friends and family. As a result, you may need more space to entertain. 

If you live in such a way that you don’t spend a lot of time with other people, you might be compelled to rent a studio apartment, in which there’s not a lot of space you have to worry about. 

If you have a job where you’re constantly traveling, you might not need to have a lot of space, whereas, if you work from home, you might be more comfortable having more space at your disposal.

Location

Where you live will influence the price of the apartment. If you want to live close to a city center or near your work location, your apartment might be more expensive than if you live away from the city. Studio apartments are often cheap enough to allow you to live where you want, whereas it might not be as affordable to live in a one-bedroom apartment. 

However, if you want more space and living close to the city doesn’t bother you as much, you might be able to find a one-bedroom apartment outside the city. Keep location in mind when you’re considering your apartment budget. 

Upkeep

When you have less space that a studio apartment provides, cleaning and decorating become easy. You have less space to clean and decorate because it’s a smaller space and there are fewer walls that need to be decorated. However, with a smaller space, there is a potential for more clutter because there’s less storage space. 

There is no right answer to whether a studio or a one-bedroom apartment is better. The answer depends on many components, such as the ones listed above. 

There are many online resources you can use to find studio apartments near you. When you’re searching for a studio apartment keep in mind what you want, such as a specific price range or amenities, to make your search easier. Many online resources have tools to help you narrow down your search so you can go away with your dream and affordable studio apartment.

Apartments for Rent Near Me

If you are new to the apartment search, there are many free resources you can use to make your search quicker and easier, from the comforts of your own couch. If you want to find an apartment near you that meets a certain criteria, many apartment searches let you filter out apartment conditions you may or may not want. For example, if you’re looking for a one-bedroom, one-bathroom apartment, you can search for those exact apartments. 

A great apartment search resource is Apartments.com. This search resource lets you find the right apartment in the right location for you to rent. Some of the filters Apartments.com has range from affordability to amenities (such as air conditioning or pets).  

Another great resource is rent.com. Similar to Apartments.com, rent.com lets you filter exactly what you’re looking for. rent.com even lets you take a 3D tour of your dream apartment before you make a decision. 

Remember that these are only a couple of the online apartment resources you have at your disposal. You can experiment with different websites and companies to help you find the right apartment for you.

Studio Apartments in Chicago

Chicago has a wide range of apartments to choose from, that range from affordability and style. If you are looking for properties to rent in the Chicago area, SRE Holdings can help. SRE Holdings is a professional real estate management firm that can provide you with apartment services you might need. We can help you find your perfect apartment. Our SRE representatives at SRE Holdings are available to respond to any of your questions or needs. Contact us at SRE Holdings today.

Posted in Property Management | Leave a comment