HSR Property Services, LLC
is a full service Management Company

HSR Property Services, LLC

HSR Property Services, LLC specializes in multi-family property management in the metropolitan Chicago area.  Executives of HSR Property Services, LLC have a long history in the field of property management, development, construction and rehabs in excess of $25 Million.  HSR currently manages approximately 4,600 units in the City of Chicago, Southwest Suburbs and surrounding Counties.  The current portfolio consists of Condominiums, Townhouses, Single Family Homeowners Associations, Senior Housing, Housing Cooperatives, Office and Retail properties.

HSR Property Services, LLC has assembled a team of innovative and dedicated Community Association and Asset Managers.  The executive staff includes a Certified Property Manager ‘CPM’ from the Institute of Real Estate Management ‘IREM’  and a Certified Public Accountant ‘CPA.’  Other designations of our staff include:

  • Association Management Specialist ‘AMS’
  • Certified Manager of Community Associations ‘CMCA’
  • Professional Community Association Manager ‘PCAM’
  • Certified Occupancy Specialist ‘COS’
  • Certified Cooperative Manager ‘CCM’
  • Novogradac Property Compliance Certification ‘NPCC’
  • Illinois Community Association Manager License
  • Illinois State Managing Brokers License

In June 2001, HSR Property Services, LLC received the prestigious designation of Accredited Management Organization  ‘AMO’ from the Institute of Real Estate Management ‘IREM.’   Fewer than 700 out of more than 10,000 real estate management companies have met the strict requirements for this designation.  These elite organizations set the standards for excellence in property and asset management.  Not only does achieving the AMO® designation demonstrate our commitment to professionally managing your association or property, but it also shows that we’re willing to go that extra step to assure you that your investment will receive the best management possible.

To be accredited, a firm must have an established reputation of professionalism.  Before the designation is awarded, the applicant’s qualifications are reviewed by national and regional leaders of IREM.  Firms must be re-accredited every three years.  AMO firms abide by a formal Code of Ethics established by IREM.  The Code of Ethics regulates relationships with the owner/investor and the public, and controls promotion, advertising, and operation procedures.  AMO firms pledge that they will not receive, directly or indirectly, any rebate, fee discount, or other benefit without your knowledge and consent.

The Institute of Real Estate Management has established well-defined financial criteria for attaining AMO status.  Each AMO firm undergoes an independent financial review, must meet IREM’s highest standards in asset/liability ratios and accounting procedures, and is required to obtain three types of insurance:  broad form money and securities, depositor’s forgery and alterations, and fidelity bond.  HSR Property Services, LLC has gone even further by obtaining coverage for Errors & Omissions, Tenant & Housing Discrimination, Employer Practices Liability and Workers Compensation for it’s employees.

Proven the Best

In August 2014, HSR Property Services, LLC received the Women’s Business Enterprise (WBE) designation from the Women’s Business Enterprise National Council.

COOPERATIVE HOUSING MANAGEMENT

HSR Property Services, LLC has an extensive background with new construction, rehabilitation and property management of multi-family rental apartments; including market rate apartments, limited equity housing cooperatives, subsidized housing (HUD 202, HUD 811, HUD 236, BMIR, and Tax Credit).  Many of our rental properties sustain an on-site management office with a Site Manager, leasing personnel, maintenance and janitorial staff.  Our services for these properties include the following:

Property Management Services

Receive complaints, service requests, and other inquiries regarding the property

Issue violation notices, follow-up pursuant to the lease or program regulations

 Obtain property and liability insurance as required, filing claims on behalf of the property

Develop and supervise on-site staff

Human resources services for associations with on-site personnel

  Prepare monthly reports for the Board of Directors

Preparation of annual budget draft for submission to the Board of Directors

Attend Board of Directors meetings

Act as a liaison between residents/members, contractors, vendors, government officials and the Board

Marketing & Leasing

Receive complaints, service requests, and other inquiries regarding the property

Issue violation notices, follow-up pursuant to the lease or program regulations

 Obtain property and liability insurance as required, filing claims on behalf of the property

Develop and supervise on-site staff

Human resources services for associations with on-site personnel

  Prepare monthly reports for the Board of Directors

Preparation of annual budget draft for submission to the Board of Directors

Attend Board of Directors meetings

Act as a liaison between residents/members, contractors, vendors, government officials and the Board

Maintenance

Develop, revise and monitor preventive maintenance schedules

Establish and monitor project inventory

Regularly inspect all common areas, exterior and interior

Develop, revise and monitor capital improvement plan

Solicit proposals for one time and regular contracts

Monitor tenant / resident work order system

Monitor all regular service contracts, including all life safety equipment

Monitor project’s key control system

Accounting Services

Collection and deposit of rents / carrying charges; Security Deposits

All bank accounts are in the name of the property — never any commingling!

Maintain bank accounts, preparing monthly bank reconciliations 

Preparation of past due notices, coordination of delinquent accounts with property’s attorney

Prepare monthly & annual financial statements, including Budget Variance, Balance Sheet, General Ledger, Cash Receipts & Disbursements