Vacancy Notification and reminder to set up your utilities
Once the property has been vacated, we will send you a notification.
Details may include the Location, Lease, Move out Date, Rent (Charge Description, Charge Amount, Charge Frequency)
Our office will be conducting a move-out inspection within 5 days of us receiving keys to the property.
UTILITIES: If you have NOT done so already, please note that is VERY important that you set up a Landlord Program with the appropriate utility company to ensure that the utilities are NOT turned off now that your tenants have moved out. Please note that this is very important as it can avoid major damage to the property if utilities are disconnected, especially since most ComEd (electric utility) meters have been switched to "smart meters" which are turned off as soon as tenants cancel their account. Landlord programs (this is a reversionary system to ensure that utilities remain active under your billing profile when/if tenants disconnect) are one of the most important tools available to you as the property owner and should be active for all your rental properties at all times. Also, not having utilities ON can affect whether we can conduct a move-out inspection, severely slows down the entire relisting process, may result in missed appointment fees, and makes it very difficult to market and show properties.
We will also be completing another rental analysis to approximate the going rental rate for the property and the number of days on the market so we are sure to get the highest rental amount and still be marketable.
We normally re-list properties within a few days after we complete the Move-out inspection ( which is normally completed within 5 days of us receiving the keys after move-out ). We will use the inspection to determine any damages and to determine what type of rent-ready work/repairs may be necessary. We typically re-list any property that is in fair condition within 5-10 business days of the move-out inspection so we can secure new tenants as soon as possible- keeping the cash flow consistent. We will conduct regular rent-ready preparation items such as cleaning and minor repairs during the short vacancy and will notify you of any irregularities and/or of any major work required, such as full home painting which is normally only necessary every 3 years- please let us know what is the best way to get in touch with you to expedite this process, and please inform us in advance if you would like to request any additional work to be completed at the property so we can schedule it as necessary during this time.
NOTE: The cost of a visual move out inspection is $125, please email us at renewals@chipropertymanagement.com if you would like to upgrade the inspection to receive a written report with pictures for an additional $55 ($180 total) OR please email us at renewals@chipropertymanagement.com if you do not want us to inspect at all. Please keep in mind that the above-referenced inspection is not a complete detailed property inspection which can cost over $1000 in some cases, if you think it is necessary to complete a very thorough inspection, please let us know and we can contact a professional licensed inspector to schedule one- this is typically not done as it is not cost-effective for a rental move out.
Please do email us at renewals@chipropertymanagement.com of any move-out requirements (normally HOA-based requirements if any) such as required scheduling, and if any fees or documentation is required so we can inform the tenant accordingly if needed. Also, please email us at renewals@chipropertymanagement.com within the first 10 days of receiving this email if you are charged any fees that may be the tenant's responsibility so we can inform the tenants of these amounts and process any security deposits accordingly (if we are holding any).
NOTE: If we are holding a Security deposit , it must be refunded within 30 days of move out, please do forward any security deposits that you are holding (if any) to us immediately- we will inform you if we do find any damages that are above and beyond normal wear and tear, whereby we would charge-back the tenants for any items that are positively identified as damage. Security deposit chargebacks and disputes are very sensitive in the state of Illinois (especially in the city of Chicago) and it can be very costly- if the tenant disputes any charges, we will communicate the same with you so you can determine how you would like to proceed.