Property Management Blog

Just Sold!

By Cruise Property Management Monday, May 9, 2022

Just sold! It did not even get a chance to hit the public. Some creativities required to get to the closing, but I'm glad that we were able to come to a solution that everyone was able to live with. It's no secret that the market is very hot right now. Many of...

422 McKinley Ave, Waukegan For Sale

By Cruise Property Management Thursday, April 28, 2022

While we mainly do property management, we also help our clients buy and sell properties. It's always nice to see old clients come back to us to help sell their properties.You can find out more about this Waukegan property below.https://www.homesnap.com/IL/Waukegan/422-Mckinl...

How we choose our vendors

By Cruise Property Management Saturday, February 13, 2021

My first whiteboard animation video is here! Working with the right vendors is one of the crucial keys to successfully managing rental properties.So who are the right vendors? They are skilled at what they do. Generally speaking, to get good at something, you need to fo...

What would you do with your factory?

By Cruise Property Management Tuesday, January 12, 2021

Imagine one day you wake up and realized that you own a factory that makes a widget. You have about 200 operators working there with one machine per person, 200 machines total. The factory is full, so you can’t hire more operators or install more machines. You make about $2...

Why we do NOT update owners about repairs until they are done

By Cruise Property Management Tuesday, October 27, 2020

Taking care of repairs is one of the major tasks for any property management company. Some of the owners may be hiring a property management company, precisely because they don’t want to deal with the repairs.I can’t blame them. Repair requests always come in on Frida...

Why are the windows open?

By Cruise Property Management Wednesday, October 21, 2020

One of the most important functions of a property management company is to provide safe properties. While there’s no way to guarantee safety, there are many things property management companies can do to make properties safer.One of the things we do during the move-in inspe...

3 Ways to Manage Your Rental Properties

By Cruise Property Management Sunday, October 11, 2020

In the past, I wrote about who should self-manage and who should hire a property manager. You can read it here. Many people only think about these 2 options when it comes to managing properties.However, what a lot of people don’t know is that there is a 3rd way to man...

Competitive advantage

By Cruise Property Management Monday, September 14, 2020

One of the hardest things for us to do is to really understand what the other side is going through. The property management business is no exception, and I constantly try to understand the perspective of the owners and the residents. Regarding the perspective of the owners,...

What is lazy money?

By Cruise Property Management Sunday, August 30, 2020

What is lazy money?When we buy a property, one of the things many of us do is to look at the return on our investment. Let's say you buy a $100k rental property with $20k down with $80k mortgage and make $200 monthly cashflow. In this case, you are getting a 12% return ...

Owners Initial Cost

By Cruise Property Management Monday, August 3, 2020

If the rent is $1,000, and the property management fee is $x, owners should not expect to receive $1,000 - $x, at least not the first month.Getting a property ready costs money, even if it's in decent shape. Below are the examples of the initial costs.- Maintenance reserve - ...

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