Owner FAQs

• Am I required to make my property available to Section 8?

  Section 8 and housing subsidies may or may not be considered a protected class depending on your property's location and local fair housing laws. Our team stays current with all fair housing regulations and will guide you through compliance requirements while ensuring all tenants meet our strict screening standards regardless of income source. We handle all fair housing documentation and represent your interests in meeting legal requirements.

• Are you licensed and insured?

  Earned Run Real Estate Group holds an active Illinois Real Estate Broker's license with full errors and omissions insurance coverage. Our license information is publicly available through the Illinois Department of Financial and Professional Regulation. We maintain all required bonding and insurance to protect our clients' interests and ensure professional accountability.

• Can I reach you after hours for emergencies?

  Yes, property owners have direct access to emergency contact numbers for urgent situations affecting tenant safety or property protection. Our 24/7 emergency response system ensures critical issues are addressed immediately, with full documentation and owner notification of all emergency actions taken.

• How do I receive my rental income?

  We offer flexible payment options including direct ACH deposits to your bank account, paper checks, or wire transfers. Payments can be scheduled monthly, quarterly, or annually based on your preference. Most owners choose monthly ACH deposits for consistent cash flow and immediate access to funds.

• Do I review and approve lease agreements?

  As your property manager, we handle all lease negotiations and execute agreements on your behalf using our proven lease templates that protect your interests. All lease documents are available 24/7 through your owner portal for review and download. We can customize our signing authority based on your comfort level and involvement preferences.

• Do you also handle real estate sales?

  Yes, we represent buyers and sellers in real estate transactions with specialization in investment properties. Whether you're looking to sell existing properties, acquire new investments, or execute 1031 exchanges, our team provides comprehensive real estate services to help you optimize your portfolio strategy.

• What are your management fees?

  Our management fee is performance-based at a percentage of collected rent—if we don't collect rent, you pay nothing. Standard rates are 8% for single-family homes, townhomes, and condos, and 10% for multifamily properties. We offer portfolio discounts for owners with multiple properties and volume pricing for larger investments.

  Leasing Fees: $500 flat fee for single-family properties or 50% of one month's rent (whichever is less). Multifamily leasing fees vary by property size and location.

  Additional Fees: $30 advertising fee per vacancy, $100 lease renewal fee, $50 annual occupied inspection fee, $30/hour for court appearances or insurance meetings.

• How is rent collection managed?

  We utilize a comprehensive online collection system through our tenant portal, allowing tenants to schedule automatic payments or make one-time payments directly from their bank accounts. Credit and debit card payments are available for a processing fee. Tenants can also make payments at any 7-Eleven location. All payments are reflected in real-time on your owner statements with immediate processing and documentation.

• What lease terms do you offer?

  Our standard lease term is 12 months, but we accommodate various lease lengths including month-to-month arrangements based on your strategy and market conditions. We recommend lease terms that optimize your income while maintaining flexibility for your investment goals.

• How much security deposit do you require?

  We typically require a minimum of one month's rent as security deposit, with additional deposits for credit-deficient applicants when approved by the owner. Our security deposit policies comply with all state and local regulations while providing maximum protection for your property.

• How quickly can you begin managing my property?

  Our advanced technology platform allows us to begin management within 24 hours of agreement execution. We can immediately implement rent collection, maintenance coordination, and emergency response services while conducting comprehensive property documentation and market analysis.

• What types of properties do you manage?

  We manage all residential property types including single-family homes, condominiums, townhomes, duplexes, and multifamily buildings from 4 units to several hundred units. Our systems scale efficiently from individual properties to large portfolio management with consistent service quality.

• What reports and documentation do I receive?

  We use AppFolio, a professional property management software platform, to provide comprehensive monthly statements via email with detailed income/expense breakdowns. All repair invoices and receipts are attached to monthly statements. You receive year-end summaries and 1099 forms for tax preparation, plus 24/7 access to real-time reports through your owner portal.

• Who holds the tenant security deposits?

  We hold all security deposits in compliance with state and local regulations in designated trust accounts. Security deposits can be transferred to owner control if preferred, though most owners choose our professional management of deposit handling for legal compliance and simplified administration.

• How do you handle maintenance and repairs?

  Our preventive maintenance program includes regular property inspections, seasonal maintenance schedules, and immediate response to tenant requests through our online work order system. We coordinate all repairs using our network of licensed, insured contractors while obtaining owner approval for expenses above pre-authorized limits.

• What happens if a tenant stops paying rent?

  Our systematic collections process includes immediate late notices, escalating communication, and rapid legal action when necessary. We handle all eviction proceedings including court filings, legal documentation, and sheriff coordination. Our eviction protection program minimizes your financial exposure during the legal process.

• How do you screen prospective tenants?

  Our comprehensive screening includes credit reports, criminal background checks, employment verification, previous landlord references, and income analysis. All applicants must meet strict qualifying criteria including minimum credit scores, income requirements, and clean rental history before approval.

• Can I inspect my property?

  Yes, you may inspect your property with reasonable advance notice to tenants. We also conduct annual occupied inspections with detailed written reports documenting property condition, needed maintenance, and tenant compliance with lease terms.

• How do you market vacant properties?

  We implement aggressive marketing campaigns including professional photography, virtual tours, and automatic syndication to over 100 rental websites including Zillow, Apartments.com, and Trulia. Our marketing also includes social media promotion, MLS listing, and targeted advertising to qualified tenant demographics.

• What if I want to sell my property?

  We coordinate seamlessly between property management and real estate sales, including tenant notification, showing schedules, and lease transfer arrangements. Our dual expertise in management and sales ensures smooth transitions whether selling to investors or owner-occupants.

• How do you handle tenant lease renewals?

  We proactively manage lease renewals 90 days before expiration, conducting market analysis to optimize renewal rates while maintaining competitive positioning. Our renewal process includes property inspections, lease updates, and strategic rate adjustments to maximize tenant retention and rental income.

Have additional questions? Contact Earned Run Real Estate Group at (630)-519-6542 or clientservices@earnedrunre.com. Our experienced team is ready to provide detailed answers and help you make informed decisions about your property investment.