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Property Management - Rent Collection Services in Chicago, IL
As a property management company, we also provide online rent collection services on behalf of property owners. Whether you struggle to collect online rent payments or you are hoping to streamline your processes, reach out to our team at 33 Realty to see how we can assist you.
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Online Rent Collection Made Easy
As a reliable rent collection agency, we use a state-of-the-art online portal compatible with a range of electronic payment methods to protect your cash flow. Our software meticulously tracks payments and automates the process to increase efficiencies and eradicate error. And if there’s a delay, we always notify tenants to avoid late payments and penalties.
At 33 Realty, we carefully explain the collection process to tenants to avoid misunderstandings. Our team collects rent when it's due and delivers a 5-day notice for late payments in compliance with Illinois Law. If there’s no response, we turn tenants over for an eviction to be filed with your approval.
At 33 Realty, we carefully explain the collection process to tenants to avoid misunderstandings. Our team collects rent when it's due and delivers a 5-day notice for late payments in compliance with Illinois Law. If there’s no response, we turn tenants over for an eviction to be filed with your approval.
Rent Payment Laws in Illinois
In Illinois, there are a number of laws surrounding rental payments, including:
The lease determines rent
It's up to the landlord to determine when and how they want rent to be paid, whether an online rent payment systems, by check, or through platforms such as Venmo.
Late fees are acceptable within reason
The definition of "reasonable" is up to the court. Late fees only apply as long as the process is mentioned in the lease.
Tenants have five days to pay rent after a "notice to quit"
If landlords want to take legal action, they must first serve the tenant with a "notice to quit" informing them, and it must be in writing and delivered to the tenant in person.
Rent can be raised with a 60-day notice
Raising the rent requires giving the tenant at least 60 days' notice before upcoming rent payments. For week-to-week and month-to-month tenancy, landlords need to provide at least one week's and 30-day notice, respectively.
There's no rent control in Illinois
The Rent Control Preemption Act prohibits all local governments from limiting how much they can charge for rental properties.
Our process
With a Chicago residential building maintenance & rent collection company like 33 Realty, you’ll get your rent on time, every time. Here’s how we work:
1
Tenant Screening
We do thorough background and credit checks on every tenant to ensure they can afford to pay the rent and have a robust rental history.
2
Rental Agreements
Once approved, we provide the appropriate rental agreement and answer any questions new tenants may have.
3
Online Portal Access
Tenants receive access to our online portal, where they can easily make payments online.
Why Our Clients Think that We Offer the Best Rent Collection Services for Your Property
Secure & Robust
Infrastructure
Infrastructure
We use industry-approved software that adheres to safety protocols to ensure both landlord and tenant data is secure 24/7.
Extensive Records
Digitized paper trails mean records are always accessible and can never get lost. Plus, it’s easier to compile end-of-year reporting.
Efficient
Automation
Automation
Our online processes complete complex tasks in seconds, saving hours of administrative time and minimizing the risk of human error.
Comprehensive
Overview
Overview
When landlords have greater visibility of vital financial data, they can better track investment opportunities and challenges to accelerate portfolio performance.
Expert Team
With over 10 years of industry experience, you can put your trust in 33 Realty to increase revenue, grow yields, and mitigate emerging risks.
testimonials
Our cashflow is much better after hiring Realty 33. We finally have a good grip on our real estate finances
Professional and prompt. The great team at Realty 33 provides excellent rental collection services for all our commercial properties.
Realty 33 is by far the best rent collection agency in Chicago. I never have to worry about cash flow because payments are always on time.
FAQs About Rent Collection
How do tenants pay rent?
To make life and cash flow processes easier, tenants pay rent through our online portal, so they and we have a detailed record of rental transactions.
Do you have your own rent collection app?
We have an online payment portal with a secure and robust infrastructure that automates workflows and reduces payment errors. From payments received and expenses incurred, everything is tracked.
How much is rent collection for landlords?
Fees vary and are quoted on a case-to-case basis. They’re usually a percentage of a client’s total gross rent. If you contact us here, we’ll happily provide you with an estimate.
get in touch
Looking for professionals to manage your property or to invest in it? Let us now!
357 W CHICAGO AVENUE
CHICAGO, IL 60654
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