Answers to Common Investor Questions

Our management fee is a percentage of the rent we actually collect — not the rent that is owed. If rent isn't collected in a given month, we don't charge a management fee for that period. Once rent is collected, we disburse your net proceeds via ACH direct deposit within 5 business days. You receive a detailed monthly statement at the same time showing income, any expenses, and the management fee deducted.

Our screening process has five layers: (1) credit check with full report, (2) national criminal background search, (3) eviction history search across all jurisdictions, (4) employment and income verification requiring a minimum gross income of three times monthly rent, and (5) landlord reference calls from the applicant's prior two residences. We use this process consistently and document it fully to ensure fair housing compliance. You receive a summary of our findings before we make any leasing decision.

Our payment portal sends automated reminders before rent is due. If rent is not received by the due date, we assess any late fees specified in the lease and immediately send a written past-due notice to the tenant. If payment is not made within the grace period specified by Illinois law, we serve a 5-Day Notice to Pay Rent or Quit — the first required step under Illinois statute before eviction proceedings can begin. We coordinate the full eviction process with local legal counsel if necessary, keeping you informed at every step.

For routine maintenance, minor repairs, and true emergencies (where delay would cause property damage or safety hazard), we handle coordination immediately and inform you. For non-emergency repairs above a threshold you set — typically $250 — we contact you for approval before authorizing any work. You will always receive an itemized invoice for every repair performed, and invoices are posted to your owner portal within 48 hours of completion. We never mark up contractor invoices.

The U of I creates a very specific rental season in Champaign-Urbana. Most campus-adjacent leases turn over August 1st, and the primary leasing window is January through March for the following August move-in. We begin renewal outreach to current tenants 90 days before lease expiration and simultaneously begin marketing vacant units on January 1st to capture peak student demand. For parent-guaranteed leases involving student tenants, we handle all guarantor paperwork per Illinois statute.

Yes. Many owners come to us mid-lease with existing tenants. We conduct an onboarding inspection, review the existing lease for compliance issues, introduce ourselves to the tenant, and transition all management responsibilities seamlessly. There is no setup fee and no disruption to your tenant's residency. Existing leases are honored through their term, and we recommend transitioning to our standard lease at renewal.

You are free to sell your property at any time. Our management agreement includes a 30-day written notice clause — once you notify us of your intent to sell, we work with you and your listing agent to coordinate showings around tenant schedules, provide access for inspections, and ensure a smooth transition. We do not charge a cancellation fee. David Horton (our founder) is also a licensed broker who can assist with the sale if you wish.

Illinois law (765 ILCS 710) has specific requirements for security deposit handling, interest accrual, and itemized deduction statements. We maintain all security deposits in a properly segregated, interest-bearing escrow account. At move-out, we conduct a detailed inspection with photos, compare to the move-in condition report, and provide the tenant with an itemized deduction statement within 30 days as required by statute. Remaining deposits are returned within the legal timeframe. Our compliance here is perfect — improper deposit handling is one of the most common sources of landlord liability in Illinois.

We can accommodate owner-supplied contractors for certain work, provided they are licensed and insured in Illinois and able to work within our communication and scheduling protocols. For most owners, using our vetted vendor network is faster and often less expensive — our contractors prioritize our properties and we receive volume discounts. However, we understand that some owners have trusted tradespeople they prefer, and we're happy to work with them.

The owner portal gives you secure 24/7 access to your property's full financial and operational history. You can view and download monthly statements, see real-time work order status, review lease documents, access inspection reports with photos, review contractor invoices, and track rent payment history by tenant. It's available on any device — desktop, tablet, or smartphone.

We run a comparative market analysis (CMA) for every unit before listing. This includes reviewing active listings, recently leased comparable properties in the immediate area, seasonal demand factors, and the specific unit's condition and amenities. We then provide a recommended rent range with our reasoning. The final list price is your decision — though we'll share our professional recommendation, because underpricing costs you money and overpricing extends vacancy.

No. Our management agreement is month-to-month after an initial 90-day onboarding period. Either party may terminate with 30 days written notice. We do not charge early termination fees. We believe our service quality should be what retains your business — not contractual penalties. Our 92% owner retention rate is proof that we're doing something right.