Management With Your Wallet In Mind.
Navigating the complexities of rental property management demands a blend of strategy, resources, regulatory expertise, and conflict resolution skills. We recognize the stakes involved; one misstep can mean the difference between profit and loss. That’s why our management approach is founded on meticulous planning, diverse resources, and a deep understanding of local codes and regulations. Our commitment extends beyond mere management; it’s about maximizing your investment’s potential while mitigating risks. At Westward360, we don’t just manage properties; we safeguard investments, providing peace of mind and enabling you to focus on what matters most to you.
Multi Family
Focused on maximizing your investment.
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General Management
- Tenant relations
- Unit inspections
- Rule enforcement and fine collection
- Coordination of lease renewals
- Coordination of evictions with an attorney
- Neighbor relations
- Insurance maintenance and claims
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Financial Services
- Collection of rent payments
- Monitoring past-due accounts and coordination of collections
- Creation of annual budgets
- Monthly and annual reporting
- Monthly transfer of rental income directly into owners’ accounts via ACH
- Bill payment
- Collaboration with an accountant for tax filing
- Collaboration with a collections firm for balance collections
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Maintenance & Cleaning Services
- Plumbing issues
- Electrical issues
- HVAC issues
- Garage door maintenance
- Pest control
- Painting
- Tuck-pointing
- Gutter, drain, and downspout cleaning
- Window washing
- Landscaping
- Snow removal
- Turnover cleaning
- Carpet cleaning
- Hallway and common-area cleaning
- Graffiti removal
- Intercom and security system maintenance
- Elevator maintenance
- Waste and recycling removal
- + anything else that comes up…..we can handle it all!
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Leasing
- Taking high-quality photographs that highlight your property’s features
- On-site consultation to prepare your property for showings
- Researching comparable properties to determine a reasonable rental rate
- Listing your property on the MLS (Multiple Listing Service), Zillow, Trulia, HotPads, Craigslist, and many other sites.
- Responding to inquiries and requests for showings
- Coordinating showings with current tenants (if applicable) and prospective applicants
- Managing keys and access to your property
- Screening prospective tenants
- Credit
- Background
- Income
- Residential history
- Negotiating the lease to obtain the most favorable terms for you
- Creating the lease and collecting the initial payments from the tenant
24/7/365 Emergency Answering Service Custom Preventive Maintenance Calendar Emergency and non‐emergency maintenance, repairs, and cleaning, including:
Leasing and Advertising
Showing the Property
Application Processing and Lease Creation
- Tenant relations
- Unit inspections
- Rule enforcement and fine collection
- Coordination of lease renewals
- Coordination of evictions with an attorney
- Neighbor relations
- Insurance maintenance and claims
- Collection of rent payments
- Monitoring past-due accounts and coordination of collections
- Creation of annual budgets
- Monthly and annual reporting
- Monthly transfer of rental income directly into owners’ accounts via ACH
- Bill payment
- Collaboration with an accountant for tax filing
- Collaboration with a collections firm for balance collections
24/7/365 Emergency Answering Service Custom Preventive Maintenance Calendar Emergency and non‐emergency maintenance, repairs, and cleaning, including:
- Plumbing issues
- Electrical issues
- HVAC issues
- Garage door maintenance
- Pest control
- Painting
- Tuck-pointing
- Gutter, drain, and downspout cleaning
- Window washing
- Landscaping
- Snow removal
- Turnover cleaning
- Carpet cleaning
- Hallway and common-area cleaning
- Graffiti removal
- Intercom and security system maintenance
- Elevator maintenance
- Waste and recycling removal
- + anything else that comes up…..we can handle it all!
- Taking high-quality photographs that highlight your property’s features
- On-site consultation to prepare your property for showings
- Researching comparable properties to determine a reasonable rental rate
- Listing your property on the MLS (Multiple Listing Service), Zillow, Trulia, HotPads, Craigslist, and many other sites.
Leasing and Advertising
- Responding to inquiries and requests for showings
- Coordinating showings with current tenants (if applicable) and prospective applicants
- Managing keys and access to your property
Showing the Property
- Screening prospective tenants
- Credit
- Background
- Income
- Residential history
- Negotiating the lease to obtain the most favorable terms for you
- Creating the lease and collecting the initial payments from the tenant
Application Processing and Lease Creation
Single Unit
Focused on protecting your investment.
-
General Management
- Tenant relations
- Unit inspections
- Rule enforcement and fine collection
- Coordination of lease renewals
- Coordination of evictions with an attorney
- Neighbor relations
- Insurance maintenance and claims
-
Financial Services
- Collection of rent payments
- Monitoring past-due accounts and coordination of collections
- Creation of annual budgets
- Monthly and annual reporting
- Monthly transfer of rental income directly into owners’ accounts via ACH
- Bill payment
- Collaboration with an accountant for tax filing
- Collaboration with a collections firm for balance collections
-
Maintenance & Cleaning Services
- Plumbing issues
- Electrical issues
- HVAC issues
- Garage door maintenance
- Pest control
- Painting
- Tuck-pointing
- Gutter, drain, and downspout cleaning
- Window washing
- Landscaping
- Snow removal
- Turnover cleaning
- Carpet cleaning
- Hallway and common-area cleaning
- Graffiti removal
- Intercom and security system maintenance
- Elevator maintenance
- Waste and recycling removal
- + anything else that comes up…..we can handle it all!
-
Leasing
- Taking high-quality photographs that highlight your property’s features
- On-site consultation to prepare your property for showings
- Researching comparable properties to determine a reasonable rental rate
- Listing your property on the MLS (Multiple Listing Service), Zillow, Trulia, HotPads, Craigslist, and many other sites.
- Responding to inquiries and requests for showings
- Coordinating showings with current tenants (if applicable) and prospective applicants
- Managing keys and access to your property
- Screening prospective tenants
- Credit
- Background
- Income
- Residential history
- Negotiating the lease to obtain the most favorable terms for you
- Creating the lease and collecting the initial payments from the tenant
24/7/365 Emergency Answering Service Custom Preventive Maintenance Calendar Emergency and non‐emergency maintenance, repairs, and cleaning, including:
Leasing and Advertising
Showing the Property
Application Processing and Lease Creation
- Tenant relations
- Unit inspections
- Rule enforcement and fine collection
- Coordination of lease renewals
- Coordination of evictions with an attorney
- Neighbor relations
- Insurance maintenance and claims
- Collection of rent payments
- Monitoring past-due accounts and coordination of collections
- Creation of annual budgets
- Monthly and annual reporting
- Monthly transfer of rental income directly into owners’ accounts via ACH
- Bill payment
- Collaboration with an accountant for tax filing
- Collaboration with a collections firm for balance collections
24/7/365 Emergency Answering Service Custom Preventive Maintenance Calendar Emergency and non‐emergency maintenance, repairs, and cleaning, including:
- Plumbing issues
- Electrical issues
- HVAC issues
- Garage door maintenance
- Pest control
- Painting
- Turnover cleaning
- Carpet cleaning
- Taking high-quality photographs that highlight your property’s features
- On-site consultation to prepare your property for showings
- Researching comparable properties to determine a reasonable rental rate
- Listing your property on the MLS (Multiple Listing Service), Zillow, Trulia, HotPads, Craigslist, and many other sites.
Leasing and Advertising
- Responding to inquiries and requests for showings
- Coordinating showings with current tenants (if applicable) and prospective applicants
- Managing keys and access to your property
Showing the Property
- Screening prospective tenants
- Credit
- Background
- Income
- Residential history
- Negotiating the lease to obtain the most favorable terms for you
- Creating the lease and collecting the initial payments from the tenant
Application Processing and Lease Creation
What Our Clients Say
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“I receive responses within 24 hours and great service every time.”
Brett
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"The plumbers that work for Westward360 are on point."
Steven
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“Very good work and very responsive throughout the process.”
Tushar
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“Our board meetings were well planned and organized.”
Violetta
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“I must say that this is, by far, the best team I have worked with.”
Ashwin
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“Their professionalism and responsiveness created trust within our community.”
Rich
Frequently Asked Questions
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What do I need to do to my property before I rent it?
Depends on the type of property (condo, apt bldg, SFH, etc.).
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How long do we sign an agreement for?
One year
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Who actually handles my property?
A dedicated team of three people who will be your primary contacts) in addition to an accounting team and other support staff.
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What type of reporting do I get?
Monthly: an income/expense report that itemizes every payment received (income) and sent (expenses)
Annually: an income/expense report that includes category subtotals (rent received; utility expenses (per utility), plumbing repairs, HVAC repairs, etc.)
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What liability will I have with my property?
You’ll want to confer with your insurance agent to be sure that you have coverage for a tenant-occupied property. This is sometimes referred to as a “landlord policy” or something similar. We recommend that your liability coverage limit be at least $1,000,000 per occurrence, but that is ultimately your decision.
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How long will it take to rent my property?
In the Chicago market, procuring a qualified tenant usually takes 15-45 days if rent is set competitively. It’s important to note that rental rates typically decrease from 5% to 20% during the off-season (roughly October through February), so we recommend and usually attempt to structure leases that start during the off-season to end during the peak season.
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What happens to my property taxes?
If the property is your primary residence and you’re receiving one or more property exemptions as the result of the property being your primary residence, you should lose those exemptions, so your taxes will almost surely increase. Otherwise, nothing, but your property taxes should be (confirm with your accountant) a deductible expense.
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How do you find me a good tenant and how long will it take?
We post available properties on the MLS as well as numerous websites to ensure maximum exposure for every property that we lease. We review every applicant’s credit history, criminal background, and eviction history. We also verify every applicant’s income (usually by obtaining several recent pay statements or an employment offer letter) and attempt to obtain a positive reference from each applicant’s previous landlord.
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Can I say who I want as tenants for my house?
A property owner can choose the criteria (in accordance with fair housing laws) used to evaluate prospective tenants, but we’ve already done this for you. We intentionally do not involve our clients in the tenant selection process so that we substantially reduce the potential for claims related to fair housing violations and to enable us to process applications as quickly as possible. It’s not uncommon for a tenant to move on to a different property if their application isn’t processed and a lease sent within one day (or even a few hours).