Seminary Properties and Management

How Technology Is Influencing Modern Property Management

Property management is important for ensuring that owners benefit from their real estate investments and tenants enjoy premium experiences when leasing or renting. Property managers oversee routine practices in residential, commercial, and industrial properties, such as rent collection, maintenance, and interviewing tenants on investors’ behalf for a fee. The rising demand for living and working spaces inspires property managers to adopt technology to deliver efficient and effective services to property owners and tenants. The traditional approach relied on manual paperwork, physical inspections, and face-to-face communication that were tiresome and error-prone. Currently, property owners and managers are adopting several innovations to meet tenants’ needs accurately and conveniently, and this approach yields several benefits.

One of the popular benefits of adopting property management technology is automation. Property management software allows for the automation of routine administrative tasks, like handling lease agreements, rent collection, tenant screening, and the generation of financial reports. This software ensures that tenants fully understand and agree with tenancy rules before renting spaces, that late payments are minimized through scheduled reminders, and that managers and owners can access updated reports on the property at any time of the month. Notably, most property management software implements and allows cloud-based access, ensuring that information is secure and can be conveniently accessed for improved collaboration between owners and managers.

Property management technology improves communication. Effective communication among managers, owners, and tenants is important in residential, commercial, and industrial assets. Technology has introduced applications and platforms that support instant and direct communication among these parties. This approach helps tenants quickly voice their concerns, complaints, and suggestions regarding the property, providing valuable insights to managers and owners on how they can improve living experiences.

Besides, technology has brought about smart buildings that integrate the latest innovations, such as lighting, alarms, and thermostats. The Internet of Things (IoT), primarily smartphones and tablets, enables property owners, managers, and tenants to control the surrounding factors, including temperature, energy consumption, and security, ensuring tenant convenience and saving the asset’s operational costs. With this technology, owners and managers can identify the cause of high utility costs and develop specific plans to drive down expenses. These parties are also promptly notified about significant issues that require immediate response, like water leaks and air conditioning failures.

Technology empowers reactive and proactive maintenance approaches in property management. Maintenance is an important and unavoidable aspect in modern real estate, and delivering this service attracts potential tenants and yields trust between owners and current occupants. Property management software offers maintenance tracking systems that allow tenants to submit repair requests backed with photos, videos, and descriptions, which can be assigned to and monitored by the management team.

Some of these software have data analytics capacities that allow them to automatically monitor the performance of building systems and equipment. This technology analyzes historical performance data and can predict failures before they occur.

The data analytics feature in property management software also helps managers and owners make data-driven decisions. After collecting vast amounts of tenant information, this function helps identify high-risk occupants and predict low vacancy periods. Heat maps and dashboards offer visual insights into financial and operational performance, helping managers forecast expenses, allocate resources, and plan capital improvements more effectively. Real estate investment platforms also use analytics to assess market conditions and predict property values, supporting strategic growth and acquisition planning.

Signs You’re Dealing with a Reputable Property Management Company

Experienced property managers prioritize tenants. Happy tenants means fewer vacancies, which translates to maximum revenue. Bad property management hurts tenant relationships. Here are some tips for renters for screening property management companies.

Property management is a people-facing business; as such, one of the biggest telltale signs of an effective property manager is great communication skill. A hard-to-reach or unresponsive property manager can be frustrating. Call their office and ask to speak to a live person. If you can’t access them or they take too long to respond, it’s not a good sign.

Also, when talking to a property manager, notice how they handle your questions. If they’re dismissive of your concerns before they have your money, imagine how they’ll behave once you’ve signed the lease. Such property managers don’t value tenants.

Effective property managers are organized. They know what a prospective tenant might need or ask. Such a manager will meet you prepared, armed with all the requisite documentation. A disorganized manager will show up for a meeting unprepared, signaling a lack of initiative.

Reputable property managers are transparent. They list all the costs associated with renting their property. They’ll tell you upfront who will be responsible for the bills. They do not have hidden fees.

Avoid property managers who won’t provide a detailed breakdown of the rental costs. That way, you avoid unexpected expenses down the road. A dodgy property manager will ask you to pay for utilities that are not sub-metered. There should be separate meters for each unit.

Property managers also use legally sound agreements. Always ask to see and sign a rental agreement. Oral agreements are a bad sign. Another bad sign is if the property manager objects to your seeking legal advice on their lease terms.

The lease terms should stipulate the duties and expectations of the tenant and the property manager. Illegal provisions to watch out for include the property manager’s right to evict you for complaining to any government authority.

A good property manager prioritizes tenant safety. That’s why you should always tour the property in person before signing the lease. Signs of poor safety precautions include hanging electrical wires, rodent infestations, unsanitary conditions, and structural defects. Proper property managers keep their premises clean, tidy, and hazard-free.

Great property managers keep professional tenant relationships. They treat tenants as the clients they are. How a property manager and their company approach their interaction with you is telling. They’re also friendly and easy to talk to. They operate by written policies, guidelines, procedures, and community rules. Professionals detailed-oriented.

Speaking of details, how a property manager screens you reflects how they screen other renters. A bad property manager treats tenant screening as a formality. Because they’re only interested in getting you to sign the lease, they’ll gloss over the details or overlook background checks. A reputable property manager takes the time to screen tenants and asks relevant questions.

Although low vacancy may not always be the fault of a property manager, barring seasonality, if a property’s occupancy rate is significantly higher than those of similar properties in the neighborhood, it may be indicative of bad management. Reliable property management companies tend to attract and retain tenants. Take note if several units are available for viewing.

Property managers should also be well-versed with relevant tenancy laws and regulations. It demonstrates compliance. Be wary of property managers who aren’t conversant with tenant laws.

Experienced property managers go above and beyond to please their tenants. While appearances can be deceiving, it’s hard to fake things such as legally sound lease agreements and the absence of hazards. When in doubt, ask current or past tenants about their experience with a property management company.

Common Renting Mistakes to Avoid

Renting is a good alternative to buying a home. However, navigating the rental market can be a daunting task. The process is fraught with pitfalls, with decisions and considerations that can leave even the most experienced renter confused. Below are the common renting mistakes that many first-time renters make, along with tips on how to avoid them.

Many first-time renters aren’t aware that rent isn’t the only rental expense. There are additional costs, such as maintenance charges, utilities, application fees, and parking fees. A reputable property manager should list all upfront and recurring rental costs.

Not factoring them into the budget can lead to unexpected expenses down the road, especially if one has to pay the additional costs separately. Renters should get a breakdown of all the costs associated with a property before signing the lease.

Another common mistake first-time renters make is committing to a property before touring it in person. Some property management companies offer virtual property tours. Others offer pictures and walk-through videos.

While such arrangements may make viewing convenient, photos and videos can be misleading. Individuals should never rent homes they’ve not personally toured.

Another mistake many first-time renters make is rushing into choosing a property. Some dread house hunting; others are eager to find a home. Rushing increases the risk of overlooking flaws or settling for a property that doesn’t meet one’s needs.

Although it may not always be possible to find the perfect property with all the preferred amenities within one’s budget and desired location, comparing multiple listings helps individuals get the best deal. Individuals should evaluate several properties before deciding.

Once a renter has found the ideal property, they should inspect it properly before signing the lease. Many first-time renters forget this step. Skipping property inspection can lead to discomfort or being held responsible for pre-existing damages.

Individuals should document any pre-existing physical damage or leaks and notify the property manager. The renter may also prepare one and have the property manager sign it. The property owner should also commit in writing regarding fixing any issues.

Many first-time renters also fail to ask questions about both their and the property manager’s roles and responsibilities. Some landlords allow tenants to repaint their walls in their preferred color; others do not. It’s best to know what a tenant can and cannot do. Other questions to ask include how to pay rent, who is responsible for repairs and maintenance, and what the lease terms are.

Speaking of lease terms, many renters skim over the lease agreement. A lease agreement is a contract detailing the property owner’s and the tenant’s expectations and responsibilities.

Renters should always read the entire lease and understand it before signing. Renters should note special clauses for rent review, dispute resolution strategies, lease renewal terms, rent payment dates, and penalties. Individuals should also ask the property manager to clarify any fine print or seek legal advice.

Screening the property manager is just as important as inspecting the property. Many first-time renters forget to do a background check on the property manager. A property management company overseeing too many properties might be too busy to give full attention to one property or tenant.

One of the most important factors when screening a property manager is communication. One way to test how reachable and responsive a property management company is is to call or email them and ask to speak to a live person. Individuals can also ask other renters about their experience under the property manager.

Finding the ideal rental property is not enough. Tenants should also uphold their responsibilities. They should keep the property in good condition, report any maintenance issues, pay rent on time, and give notice before moving out.

National Rental Increases Climb Almost 3 Percent in 2025

According to a report from Multi-Housing News, rent prices for single-family units increased by approximately three percent between February 2024 and February 2025. During this period in 2024, rental prices increased nearly identically by 2.8 percent, suggesting a long-term trend of rental price increases.

The nationwide trend of growing rental prices hit certain markets harder than others: the cost of a long-term, single-family rental in Los Angeles rose by more than seven percent, an increase driven, in part, by the widespread Pacific Palisades and Eaton wildfires, which destroyed almost 20,000 properties and forced countless displaced individuals and families to find shelter. High-end rentals were only up 2.6 percent year-over-year in February 2024, but had jumped by over nine percent in 2025.

Rental prices for high-end homes also outpaced standard rent growth on the national stage, up 3.7 percent compared to February 2024. Chicago closely followed Los Angeles; the city experienced a 7.1 percent rental price increase. On the opposite end of the spectrum, rental prices in Dallas remained relatively stable, increasing just .3 percent. Growth rates in Houston and Miami were closer to the national average at two percent and 2.1 percent, respectively.

How Renters Benefit from Local Property Management Companies

Renting from a local property management company offers distinct advantages that can significantly improve a tenant’s experience. These companies tend to be more responsive, often addressing maintenance requests faster than large corporations, which may have layers of bureaucracy. Their deep knowledge of the local rental market allows them to set fair rates, recommend suitable neighborhoods, and understand what renters prioritize in specific areas. With established connections to trusted local contractors and service providers, repairs and upkeep are handled efficiently, ensuring properties remain in top condition.

Beyond upkeep, tenants benefit from a management team that is genuinely invested in the community. Local property managers build long-term relationships with renters and have the flexibility to adjust policies based on tenant needs, unlike larger firms that follow rigid corporate guidelines. Their familiarity with the area also allows for quicker, more practical decision-making. Choosing a locally owned property management company means working with professionals who not only oversee properties, but also understand the needs of the people who live in them.

Key Tips for Successfully Managing Family Owned Businesses

Running a family business presents unique challenges, particularly when separating personal relationships from professional responsibilities. Therefore, the owners must establish clear expectations and boundaries to help them succeed.

Setting clear expectations and boundaries can help manage potential conflicts. Defining roles and responsibilities ensures that everyone understands their obligations. This structure helps prevent misunderstandings and keeps business operations organized.

Next, communication helps maintain open, honest communication, and scheduling regular meetings can keep work discussions focused and minimize personal conflicts. Fair treatment of all employees, including family members, prevents resentment and internal disputes. Favoritism can disrupt teamwork and create tension within the business.

Formal agreements outlining each person’s role, responsibilities, and compensation clarify and reduce the risk of misunderstandings. Setting clear expectations from the start helps avoid disputes later.

Conflicts will arise in any workplace, but personal dynamics in a family business can make resolution more complicated. Seeking input from an impartial third party can help address disputes professionally.

Chicago’s Flourishing Lakeview Neighborhood

A family-owned and operated company, Seminary Properties and Management, Ltd., has conducted business from its headquarters on the North side of Chicago for nearly 50 years. Seminary Properties and Management, Ltd., has residential real estate in some of Chicago’s most desirable neighborhoods, including Lakeview.

Delineated by Damen Avenue, Diversey, Irving Park, and the shore of Lake Michigan, Lakeview is popular among locals for what the official destination marketing organization Choose Chicago describes as a “laidback atmosphere.” Lakeview was originally established as an independent city, but became part of the city of Chicago upon voter-approved annexation in 1889.

Over the years, Lakeview has developed into a thriving and bustling community that rivals Lincoln Park in terms of amenities, which range from restaurants and shops to sports and entertainment venues. Most notable for baseball fans, Lakeview contains the community of Wrigleyville and the Chicago Cub’s home ballpark, Wrigley Field. Other notable features of Lakeview include the historic Music Box Theater, Metro, The Vic, and the large collection of vintage guitars at the Chicago Music Exchange.

LaSalle Language Academy Zero-Waste Efforts

Seminary Properties and Management, Ltd., is a family-owned provider of various property management services throughout Chicago’s Northside, including the Lakeview and Lincoln Park communities. Involved with the entire Northside community, Seminary Properties and Management, Ltd., supports organizations such as LaSalle Language Academy.

Students and staff members of LaSalle Language Academy were recently recognized for their successful and comprehensive food waste and composting initiatives. Students at the school learn about composting in the academic curriculum, which encourages individual students to reduce waste at LaSalle and take an active role in the fight against climate change.

The academy is one of several Chicago-area schools to launch effective environmental learning programs, with LaSalle’s lunchroom waste decreasing by 50 percent since the inception of the program in 2019. Specific elements of the LaSalle Language Academy zero-waste program include food recovery, liquid diversion, and general recycling practices. More information about these and related efforts is available from Seven Generations Ahead (SGA) Zero Waste at sevengenerationsahead.org.

The JUF Chicago’s Online Flagpole Events

Taking its name from one of its original properties on Seminary Avenue, Chicago’s Seminary Properties and Management, Ltd., has been serving the Northside of Chicago since the 1970s. In addition to providing housing to its client base, Seminary Properties and Management, Ltd., supports the community through contributions to organizations such as the Jewish United Fund of Chicago.

As a chapter of the international Jewish United Fund (JUF), JUF Chicago works to assist the local community while strengthening connections to initiatives in Israel. To encourage solidarity in the Chicago area, it recently hosted multiple online Flagpole events.

A nationwide project of the Staenberg Family Foundation, the Flagpole series took place in several cities including St. Louis, Denver, and Atlanta. National youth camp organizations such as Camps of North America and the Ramah Camping Movement have also embraced the Flagpole program.

Like all Flagpole initiatives, the JUF Chicago events promoted interactivity while delivering rousing speeches and musical performances. Occurring throughout June, these events featured appearances by Chicago-area leaders and entertainers that included rabbi Michael Segal and musician Andy Dennon. Composer Laurie Akers and Jewish Rock Radio executive director Rick Recht hosted the JUF Chicago Flagpole gatherings.

Popular North Side Neighborhoods in Chicago for 2020

Based in Chicago, Seminary Properties and Management, Ltd., has owned and managed properties in some of the most desirable neighborhoods in the city for more than four decades. Operating exclusively in Chicago’s Northside, Seminary Properties and Management, Ltd., believes in continually improving its buildings and providing hands-on service to residents.

Renting in Chicago can often be challenging, since many renters are unclear what neighborhoods they should focus their search on. Below are some of the city’s top Northside neighborhoods for 2020:

North Center
A great neighborhood for both buyers and renters, the average two-bedroom rent in North Center was $1,800 in 2019, while the median home sold for about $434,000. The trendy neighborhood is located near Lincoln Square and Roscoe Village, so it’s expected that its housing market will rise in the near future.

Ravenswood
With a Walk Score of 90, Ravenswood is a great neighborhood for aspiring artists and art enthusiasts. Full of small cafes, charming shops, and popular rooftop eateries, the neighborhood is located on the CTA Brown Line. This gives commuters easy access to Damen, Western, Montrose, and other stops throughout the city.

Bucktown
Resting along the Kennedy Expressway, Bucktown is conveniently located between Lincoln Park and Logan Square, two of Chicago’s most in-demand neighborhoods. Yet despite this, the area has remained relatively affordable for renters and is closer to the Loop than apartments in Logan Square. Similar to Ravenswood, Bucktown is very friendly to both walkers and commuters.