RedStar Property Management Chicago

Serves Cary, IL

35244

Not yet available

3 employees

15 years in business

Free on-site estimate

3.0

This pro accepts payments via Cash, Check, and Zelle.

Next Service

Hours

Sun Closed

Mon 9:00 am - 5:00 pm

Tues 9:00 am - 5:00 pm

Wed 9:00 am - 5:00 pm

Thurs 9:00 am - 5:00 pm

Fri 9:00 am - 5:00 pm

Sat Closed

Credentials

Background Check

Erik Carrier
Completed on 11/21/2022

Introduction

Redstar is a family-owned and operated real estate company. We are licensed and insured Realtors, Property Managers and General Contractors. We are accredited by the Institute of Real Estate Management, Chicago Apartment Association and Community Association Managers ICB. We started managing as investors for over 30-years and currently have 76-units of our own. We began 3rd party management over 12-years ago to address the concerns we felt with the management industry and now oversee hundreds of properties across Chicagoland. With RedStar, your property, your residents and you will receive attention from a principal, who can make decisions immediately and our team of vetted and experienced support staff. You will also benefit from our extensive experience in property renovation and maintenance.

Q&A

What should the customer know about your pricing (e.g., discounts, fees)?

We charge a percentage of gross income for investment properties and a flat fee per door for condominium associations. Those fees can vary depending on geography and the scope of work the client wishes us to perform

What is your typical process for working with a new customer?

We start with a brief phone conversation to get to know the client and their needs. We then prefer to tour the property with the owner/board to understand the condition of the property and the performance of the current vendor base. Once an agreement is signed, we review all client documents to ensure everything is in order before reaching out to residents to get started.

What education and/or training do you have that relates to your work?

I am a 2nd generation property manager. I grew up around apartment buildings and renovation projects in Chicagoland. For over 12-years, I have served other investors and building owners sharing my deep experience with running buildings. During that time, I have acquired and maintain a real estate managing brokers license, a general contractor license and a community management license.

How did you get started doing this type of work?

I grew up in the real estate business with my father, who manages his own portfolio of properties.

What types of customers have you worked with?

We work with customers from every walk of life from institutional investors to professionals diversifying their portfolios, small condominium boards to multimillion-dollar condominium budgets.

What advice would you give a customer looking to hire a provider in your area of work?

Make sure the vendor you hire cares about your business. There are a lot of larger management companies in Chicago, but the number one complaint we hear from prospects is a lack caring on the part of current management. As a small business owner, I care about each and every one of my customers, I know their buildings, I know their tenants and I know them when they call me. I think that is so important when you are partnering with someone to handle one of your most valuable assets.

What questions should customers think through before talking to professionals about their project?

- Is your rate all-inclusive? Many management firms have additional fees for capital improvement bids, site visits, meetings and even postage/copies. At RedStar, all those things are included. - Who will be my point of contact? Will they be the point of contact for all things? Some management companies have a department for everything and frequent turnover. At RedStar, you have one point of contact for all your questions and concerns and that point of contact is a long-term, dedicated employee or owner. - What software do you use and what is the functionality? RedStar uses Appfolio, which offers user-friendly portals for residents and owners and a robust accounting package that allows us to give clients detailed, accurate financial reports to run their businesses and plan for the future. - Who is doing the bookkeeping? As a small business owner, I am intimately familiar with finances and financial reporting. However, all client books are kept by a licensed 3rd party CPA firm that reviews the accuracy and authenticity of the accounting. Clarity, accuracy and transparency are too often overlooked by property managers.