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Best Property Management Companies in Peoria

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Fairlawn Real Estate logo
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License Verified:

License: 478025688

Illinois Department of Financial and Professional Regulation

Fairlawn Real Estate

2500 Galen Drive, Suite 10, Peoria, IL 61821
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  • Property Maintenance
  • Market Vacancies

Business Description

Fairlawn Real Estate is a residential and commercial property management company that serves Peoria and nearby areas. It assists property owners and investors in finding and screening tenants for their property, perform routine and preventative maintenance, and provide property performance reports. Its staff also performs lease compliance services. The company connects clients to real estate professionals for design and development matters. Fairlawn Real Estate and its workforce of over 80 members have been serving clients since 2015.

License Verified:

License: 478025688

Illinois Department of Financial and Professional Regulation

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.4
Facebook
4.4 / 5 (121)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Jim Maloof Realtor logo
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License Verified:

License: 471002027

Illinois Department of Financial and Professional Regulation

Jim Maloof Realtor

803 W Pioneer Parkway, Peoria, IL 61615
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  • Rent collection
  • Market Vacancies

Business Description

Jim Maloof Realtor is a real estate firm that serves clients throughout the Peoria area. The firm provides property management solutions, including property advertising, rent collection, tenant screening, property maintenance, and financial accounting. It likewise offers leasing preparation and negotiation services. Clients can also view current property listings on the company's website. Michael Maloof, the company's managing broker and president, also serves as the treasurer of the Peoria Area Association of Realtors. He has more than 30 years of real estate experience.

License Verified:

License: 471002027

Illinois Department of Financial and Professional Regulation

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Facebook
4.1 / 5 (70)
Google
4.1 / 5 (8)
Yelp
2.5 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Kimberly Hanley logo
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License Verified:

License: 475170948

Illinois Department of Financial and Professional Regulation

Kimberly Hanley

25310 Spring Creek Rd., Washington, IL 61571
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  • Property Assessment
  • Market Vacancies

Business Description

Kimberly Hanley offers property management services to clients based in Peoria. Working with RE/MAX Traders Unlimited, Kimberly collaborates with real estate property owners and tenants alike for matters concerning rent collection, property maintenance, inspections, legal contracts, and evictions. Having been in the real estate industry for almost three decades, her organizational skills and previous experience in customer service enable Kimberly to assist customers in buying and selling residential and commercial properties and in managing tenants and rental properties.

License Verified:

License: 475170948

Illinois Department of Financial and Professional Regulation

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Principle Property Management logo
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Principle Property Management

3709 North Sheridan Road, Peoria, IL 61614
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  • Marketing

Business Description

Principle Property Management offers management solutions in Peoria. Its team of professionals helps property owners market vacant units through listings on the company's website. These rentals cover multi-family dwellings, townhomes, condominiums, single-family homes, and industrial properties. They also assist in finding qualified renters, facilitating lease applications, and screening prospective tenants using an online platform. Principle Property Management maintains online portals for property owners' and residents' convenience. Additionally, its website has an online property search tool.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)
RE/MAX Traders Unlimited Property Management logo
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RE/MAX Traders Unlimited Property Management

3622 Knoxville Avenue, Peoria, IL 61603
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  • Maintenance
  • Marketing
  • Accounting Services
  • Property Inspection

Business Description

Serving the greater Peoria area, RE/MAX Traders Unlimited Property Management looks after properties like duplexes and executive homes. The company's property managers assist owners in preparing their properties for rental, then handle advertising on social media and over 22 websites. They take care of tenant screening, lease preparation, and rent collection. They also pay property-related bills and provide monthly financial statements and year-end 1099 tax forms. Additionally, RE/MAX Traders Unlimited Property Management oversees lawn care, snow removal, and general maintenance.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.1
Google
4.1 / 5 (24)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
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Robert Cottingham Property Management Co. logo
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Robert Cottingham Property Management Co.

215 West Sam J Stone Avenue, Peoria, IL 61605
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  • Community Management

Business Description

The team at Robert Cottingham Property Management Co. includes property managers in Peoria who take care of homes and apartments across Central Illinois. They deal with property maintenance and repairs, manage expenses, and help ensure compliance with state and federal housing laws. Operating for over 35 years now, Robert Cottingham Property Management Co. also caters to clients who are looking for affordable housing that comes with amenities like parking and laundry. Among these properties are income-based apartments and disability or senior housing.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (6)
Facebook
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
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Back to Providers

Frequently Asked Questions

What is property management?

Property management is the business of controlling and overseeing real estate, including residential and commercial rental properties. These professionals handle general maintenance and day-to-day operations on behalf of the property owner. They’re responsible for marketing properties, finding and screening tenants, collecting rent, and preparing units between leases. They may also handle repairs, evictions, and any problems that arise.

What does a property manager do?

Professional property managers perform critical tasks throughout the leasing life cycle, from preparing a rental property, through tenant move-ins and move-outs. They can also provide referrals for legal advice, home repairs, and services that aren’t covered by the management agreement. Here are some of their key responsibilities:

  • Marketing and listing vacant units
  • Processing applications and screening tenants
  • Conducting quarterly and annual inspections
  • Orchestrating move-in procedures
  • Coordinating maintenance and repairs
  • Collecting rent and applying penalties
  • Conducting move-out inspections and returning deposits
  • Handling evictions and posting quit notices
  • Complying with fair housing regulations
  • Compiling monthly expense reports
  • Preparing annual tax documents

How much do property management companies charge?

Property management fees can vary substantially depending on the size of the property, number of units, and scope of service. Property owners can expect to pay one month of rent to fill vacant properties and 10% of the gross cash flow to manage the property. Investors should also account for monthly maintenance, contributions to a reserve repair fund, and early termination fees if they decide to cancel the property management contract. Evictions and other non-routine services typically cost extra.

How do I manage a rental property from out of state?

Managing a property isn’t easy, and the job is even more difficult for out-of-state landlords. Thorough tenant screenings are the best way to prevent many common problems. Landlords should also maintain strong relationships with neighbors who can alert them if anything goes wrong. Investors who prefer a more hands-on approach should consider hiring a property manager to represent their interests.

Does a property manager need a real estate license?

Yes, in most states, property managers must have a real estate license to advertise rentals, show properties, sign lease agreements, collect rent, and perform other fiduciary activities. A community association manager license or similar certification may also be required for professionals who want to work for an HOA or apartment complex, although this credential is optional in most states.

How do I find a good property management company?

Property managers differ significantly in their approach and level of expertise. It’s important for owners to screen potential candidates to ensure that they're choosing the most qualified professional. Here are a few questions to ask during the interview:

  • How many units do you manage?
  • How big is your staff?
  • Do you have a maintenance crew?
  • How long does it take to fill vacant units?
  • What happens if my tenant doesn’t pay on time?
  • Have you ever filed an eviction?
  • What type of communication can clients expect from you?

Do property management companies find tenants for rental properties?

Yes, finding tenants and filling vacancies are key responsibilities for property managers. These professionals are responsible for advertising the property, and they handle all inquiries, applications, and showings. To find the most qualified tenants, managers perform background and credit checks, verify references, and confirm the applicant’s employment information, which can prevent problems and extra costs down the road.

How do I manage a vacation rental property?

Managing a vacation home or short-term rental requires a higher level of involvement when compared to other investment properties. Owners or managers must handle marketing, reservations, check-ins, and cleanings between stays. While a recent study by vacation rental marketplace HomeAway (now part of VRBO) reports that vacation rental income comprises about a quarter of the average rental owner’s income from investing just under 10 hours per week managing their rental, this type of hands-on involvement may not be possible for owners who live out of state or in another region. Professional property managers can assist with one or more tasks, such as cleanings and check-ins, or they can provide comprehensive management services to ensure that the property is generating revenue year-round.

Do property managers pay for repairs?

Yes and no. Property managers may pay for repairs, but the cost is generally deducted from future rent payments or a reserve fund. In most cases, landlords are responsible for maintenance costs and improvements that are needed to preserve or enhance the property’s value. Management firms do coordinate repairs, and some have their own maintenance crews. They can also provide contractor referrals and handle work orders for routine repairs, such as cleaning, painting, plumbing, and changing locks between tenants. Many firms allow tenants to submit maintenance requests online, and they should also provide monthly expense reports showing owners how their money is being spent.

Can a property manager evict a tenant?

Yes, property managers can help to orchestrate the eviction process, from preparing the initial notices to appearing in court and working with law enforcement to ensure that the tenant leaves the property. Situations that warrant eviction include non-payment of rent, lease violations, and illegal activity. Property managers can help to determine the best course of action when dealing with problem tenants.

Can a property manager sign a lease for an owner?

In most states, a property manager can sign a lease. Property owners can appoint a third party to act as a landlord by signing a contract with a management company or by giving power of attorney to a private individual. However, for the contract to be valid, the property manager must have the owner’s authorization.

Is property management worth the cost?

Property managers aren’t cheap, but they’re a worthwhile investment in many cases. Managing a rental property requires time, experience, diligence, and attention to detail. Professional property managers can assist new landlords and long-term investors who have a growing portfolio of rentals. They’re also valuable partners for individuals who work full time, live out of state, or want to enjoy the financial rewards of an investment property without added stress and anxiety.

How do I deal with a bad property management company?

Unresponsive property managers cause problems for property owners and tenants. Reputable management firms should work hard for their fees. No landlord wants to hear from their tenants that the management company isn’t doing its job or is ignoring their concerns. If the manager is skipping routine inspections, accepting bad tenants, or failing to provide monthly expense reports, it’s probably time to hire someone else. Owners should interview several candidates, compare rates, and check references to find a more qualified manager.

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