Chicago Property Management

Nomad's rental management fee starts at 4% of the lease, paid once up front. Tenant placement is priced separately, depending on how much of the leasing you want Nomad to handle.

Across homes leased through Nomad in the Chicago metro area over the last three years, the median rent is $2,575 a month for a 3-bedroom home.

For homes leased through Nomad in the Chicago metro area over the last three years, the median time from listing to signed lease is 16 days.

No. Chicago has no rental license or registration. Its Residential Landlord and Tenant Ordinance does set stricter deposit rules than Illinois law: the deposit has to sit in an interest-bearing account at an Illinois institution named in the lease, and it's due back within 45 days. The ordinance doesn't cover a building of six units or fewer that the owner lives in, though a few of its tenant protections still apply there.

Illinois state law doesn't set one, but Chicago's Residential Landlord and Tenant Ordinance does: at least two days' notice, except in an emergency, when the landlord has to give notice within two days after entering. The ordinance doesn't cover an owner-occupied building of six units or fewer.

Illinois state law doesn't cap late fees, but Chicago's Residential Landlord and Tenant Ordinance does: $10 a month on the first $500 of rent, plus 5% of the amount over $500. On $2,000 rent, that's a maximum of $85. The cap doesn't apply to an owner-occupied building of six units or fewer.

Illinois requires 30 days' written notice to end a month-to-month lease, but Chicago's Fair Notice Ordinance requires more for longer tenancies: 30 days if the tenant has lived there less than six months, 60 days for six months to three years, and 120 days for more than three years. The same notice applies if you don't plan to renew a fixed-term lease, and it covers owner-occupied buildings of six units or fewer too.