There’s nothing quite like a personal touch to make people feel at home. When it comes to property rentals, engaged property owners make a huge impact in quality of life. They also improve the strength of communities. After all, owning multi-unit apartment buildings is more than just a numbers game. Success involves so much more than profit. Property owners like Beal Properties in Chicago understand this.
Beal’s engagement within the communities where it owns property makes a tangible impact. Its presence not only shapes the face and pulse of these communities, but it also provides high-quality housing. Additionally, there is a personal touch that feels genuine. Today’s most successful property owners accomplish these objectives in many ways.
One beneficial decision is deploying a big-picture view of the housing situation in Metro Chicago communities. Another important commitment shown by property owners involves deliberate and thoughtful charitable giving. Additionally, forging personal connections with residents give an edge. Beal Properties exemplifies today’s successful property owners in each of these ways.
Beal’s Big Picture View of Chicago’s Housing Situation Makes Positive Change
The Beal Properties team takes pride in owning high-quality units — a major reason they have enjoyed over three decades of success in the Chicago metro region. For all property owners intend on maintaining success, established owners must understand that, at the core of every tenants’ living experience, is a desire to feel at home — whether they rent or own their living space.
Beal, and other property owners across the country, understand this important concept and have made it central to their business models. They appreciate the ways in which the renal market has evolved but continue to prioritize the desire to create living opportunities that feel like home.
In generations past, young professionals and couples sought homeownership as both an investment and personal preference. Today, people in the exact same position are choosing to continue to rent rather than own their own homes.
There are many reasons for this phenomena, including unstable housing prices, student debt, the decision to delay having children and focus on careers, and a preference to remain in Metro areas within lively communities. Regardless of these factors, today’s renter is neither transient nor disinterested in setting down roots. They want rental homes that they can stay in for extended periods of time that evolve to meet their needs.
Often, they do have families. They hold meaningful jobs and are involved in their communities. They appreciate the positive benefits of shorter commute times — both for their own quality of life and for the good of the environment.
These renters seek cozy apartments that feel like home and have all the necessary amenities, and they want to appreciate the neighborhoods where they live. They’re looking for rentals at a wide variety of price points and expect a relationship with their landlord or the on-site property management team that is collaborative, open, and satisfying.
It is often in property owners’ best interest to make decisions that cater to these types of renters. To this end, one common trend that property owners like Beal Properties and others engage is to renovate units that were previously condos and turn them into rental units.
This transforms the very fabric of the neighborhood. Suddenly renters have neighbors that share the same values as they hold. They can also simultaneously enjoy great diversity in these communities. Additionally, they have more options to choose from, which creates a friendly renters market.
Transitioning condos into rental units also increases the potential for people from all walks of life and economic backgrounds to choose to live in the Metro rather than exclusively move to outlying suburbs and more distant communities. This maintains healthy Metro areas, supports public transportation systems, and creates healthy customer bases for the small businesses within city limits.
Landlords with a Personal Touch
Many people can remember a tenant-landlord relationship that was negative, flawed, or — in some cases — nonexistent. All too often, there is a disconnect between property owners and the tenants that call their buildings home. This makes it more difficult for tenants to obtain the services they need, such as unit maintenance. It also makes it near impossible for tenants to share perspectives on changes in policy and procedure that could benefit residents throughout the building.
Today, successful property owners prioritize tenant needs and foster a free flow of communication by being approachable and empowering on-site staff to be visible and personable. They work to accommodate customers and maintain positive relationships with all tenants.
The team at Beal — which they refer to as a family — demonstrates this trend. This mentality is at the heart of the Beal website, where, in a few simple clicks, tenants can identify the right staff member to speak with about a variety of problems. Tenant reviews consistently reference positive interactions with staff.
Making a Greater Impact Through Deliberate Giving
The focus on community also underlies how modern property owners give back.
Unfortunately, successful individuals and businesses who donate to charities often do so because they’re trying to create a certain image. This type of giving is certainly helpful to benefactors, but it can be impermanent as it lacks true connection to the communities that serve them — and that they serve in turn. It also feels empty to today’s hyper-aware public.
Property owners like Beal intrinsically understand that the power of giving reaches far deeper than the surface. By establishing a Giving Team, Beal dedicates the time and resources necessary to identify and engage with local charities that make the greatest impact in their communities.
This trend in organized giving also benefits tenants.
Not only do property owners like Beal give regularly, but they also dedicate resources to a wide variety of causes that affect residences like their tenants and their neighbors.
These diverse causes range from legal aid for community members, reading and educational programs, basic services for those in need, and services that benefit community members living with disabilities.
Renting in Today’s Social and Economic Climate Continues to Improve
Beal is merely one example of a trend that is increasingly prominent in the multi-unit rental industry. Throughout the country, the company is joined by other property owners who put community first. As renting becomes more popular, this has created a uniquely positive climate, where the interests of property owners and tenants align more closely than ever before.
Not only does this make the lives of tenants themselves more pleasant, but it also helps build stronger communities — ones with greater shared identities and a universal feeling of family.
