Thinking about buying rental property in Chicago? You’re not alone. The Windy City continues to attract property investors with its diverse neighborhoods, strong tenant demand, and relatively affordable entry prices compared to other major metros. However, not all pockets are created equal, which is why at High Fidelity Property Management we’re breaking down our top […]
Dynamic Lease Pricing – Why It’s Important and How to Do It
The practice of dynamic lease pricing involves adjusting apartment valuations to reflect ever-changing market conditions. Specifically, the practice allows property managers to utilize readily available data to potentially set a higher price during periods of greater demand and a lower price when demand dips — think “surge” pricing.
Three Ways Apartment Investors Can Maximize Rents and Minimize Vacancies During Chicago’s Off-Season
Rents are declining in Chicago — fast. It doesn’t have to do with inflation or a pending recession, rather it’s seasonality. At High Fidelity Property Management, we typically see an annual trend of decline by as much as 15-20% from the high-water mark in June to the bottom in February.