Prominent Property Management Inc

About

Prominent Property Management, Inc. manages between 130-180 units at any given time. We’ve been in business for a decade and have extensive experience with multi-family residential buildings, single-family homes, and homeowner’s associations. We manage buildings and homes between the greater Elgin area and downtown Chicago. One of our great attributes is retaining our leases. We effectively lease all of our properties and ensure they are filled with quality tenants, but we truly excel at ensuring our tenants are happy and choose to re-sign with us. Our average number of days a tenant stay is 419 days, although 15% of our tenants have been in the apartment for over 3 years. We are also proficient at keeping the minimum number of vacancies possible, and our average vacancy percentage company-wide is 3%. We generally sign around 70 leases per year. If this seems low for the number of units we manage at any given time, it is due to our retention. We keep up-to-date with lease renewals and send out information packets to our current tenants with requests to re-sign a new 1-year lease at a lesser rental amount than the month-to-month rate. We send these packets out 3 months before a lease is set to expire. We give quarterly reports to building owners reflecting profit and loss and all financials. We keep the building-owners updated with lease-signings, applicants, work orders, etc. We ask the building owners to maintain an operations account with our company with a minimum dollar amount at all times in order to do repairs, and keep the owners apprised of the number in the account. We will only perform maintenance up to a certain given dollar amount without consent from the owners.