Welcome to Elite Rentals Chicago!
I have included a couple attachments located in the DropBox link that I have shared with you at the bottom of this email. You can download them to your computer and fill them out and send back at your convenience.
They are as follows:
1) The owner handbook. This covers all of the commonly asked questions that you will have, including a lot of our policies and information that you will probably find helpful. I am going to be sending the handbook in a separate email- the attachment file size is too big to send along with the other documents.
2) Request for Owner Information. This is a packet of information that you need to review and fill out all applicable parts. The CHA pages you just need to sign- we will fill out the rest. We like to send all of these documents to owners right in the beginning to get everything squared away, so we do not need to bug you several times and can knock everything out at once!
3) ACH form. We do owner disbursements between the 25th-30th of the month. You will receive and email from Bank of America when the ACH is initiated, after that the time it takes to post to your account is up to your bank- we have seen anywhere between 2-5 business days for banks to process. Please pay special attention to filling out this form- if there are any errors it may result in the ACH not going through and delays in your disbursements.
4) How to run your owners statement. We do not email you monthly owner statements- because you are able to run them through our property management software, Appfolio, whenever you would like—and for whatever time frames you would like- 1 month, or more! This PDF walks you through the steps of how to run your owner statement. Please note on your owner statement a line item will appear monthly that says “Commission” that is our 8% PM fee. Appfolio is very user friendly, and the reports that you receive can be easily customizable so that you can obtain the information that you would like.
5) Warranty overview. This document covers the basics of our warranty program- please be advised that as you are funding the construction the dates here will need to be altered. This only applies to properties purchased from Elite, as you are transferring your property to us, you can disregard this step!!
6) Reserve Funds. We do require that owners keep reserve funds on file in the amount of $500 per unit. Ex: if it is a 2 unit building the reserve fee will be $1000. The best way to pay this is to mail a check to our office. Check can be made payable to: Elite Rentals Chicago, LLC and mailed to
Elite Invest, LLC
ATTN: Jillian Lundgren
404 S Wells, 2nd Floor
Chicago, IL 60607
7) Appfolio. Once we receive all of your documentation and can add your property to our PM software, app folio, I will get you set up with a log in to view your property and all of it’s info via our portal!
https://www.dropbox.com/sh/owk5xmwm8ur5hyy/AAAn3uwhy8qdyfr_zPqeLFk0a?dl=0
All documents are also available for direct download from this site under --> New Owners --> Documents