Property Management Blog

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 - ...

What we value about vendors

By Cruise Property Management Tuesday, July 14, 2020

When it comes to choosing the right vendors, we believe getting 5 bids for every job and picking the cheapest one is NOT the way to go. Initially we may have to get some bids, but once we find good vendors, we shift our focus to creating good relationship with them. Think about...

4 Standards We Follow To Make Rentals Ready

By Cruise Property Management Friday, July 10, 2020

Every property is different, but we use our own 4 standards to provide the same experience consistently to the residents.1. Safety -We provide safe properties. Everything from windows to alarms to light bulbs is checked.2. Cleanliness - We provide clean properties. That is why we...

Picking the right property management company

By Cruise Property Management Wednesday, July 1, 2020

Picking the best property company doesn't start by, well, picking the best property management company. It starts by understanding that there is no perfect way to pick the best property management company for you. Even if you find one, it still doesn't end there, because ...

MRP

By Cruise Property Management Thursday, June 18, 2020

We now have a property manager with Military Relocation Professional or MRP. We are proud to be able to play a small part in helping those who risk their lives to defend this country. Many of our clients are in the military, and we are looking forward to adding more values by tak...

We can't take all owners

By Cruise Property Management Wednesday, June 17, 2020

One of the main benefits of hiring a property manager is you'll save time (if you how the right one.) If you feel like you constantly need to get involved with everything your property manager does, then you are probably not the right fit for us. We serve those owners wh...

1011 Talltree Ter, Libertyville

By Cruise Property Management Wednesday, June 3, 2020

We list houses also. You can see more pictures here. Contact us if you have any questions. This lovely well maintained and cared colonial style home on a peaceful cul-de-sac within the desirable Greentree subdivision boasts 4 bedrooms and 2.5 baths with a concrete driveway w...

What to do when you receive multiple applications for your rental property

By Cruise Property Management Tuesday, June 2, 2020

What to do when you receive multiple applications for your rental property It's common to receive multiple interests for your rental property. How do you handle them? Before I go into it, I want to emphasize that this is not legal advice but more so with the thought process,...

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