Rental Property FAQ

Who pays for advertising?
Each owner pays for the actual cost of advertising his property for rent. Peak Properties has negotiated very favorable rates in local newspapers, which we pass on to our owners. These charges are shown on the monthly owner’s statement. We do our best to minimize advertising expenses for our owners but “For Rent” ads continue to be the best source of tenants.

How much security deposit do you collect?
We do not collect security deposits. Instead, we administer non-refundable move-in, pet and application fees.

How do you handle tenants who are using illegal drugs?
Peak Properties has a “no tolerance” policy for any kind of illegal drug use. All tenants sign our Illegal Activity Addendum at the same time they sign the rental agreement, prior to move-in. This document gives us the right to cancel a lease if the tenant OR GUESTS use drugs, cause a disturbance, or are involved in any illegal activities.

As the rental agent, who does Peak Properties represent – the property owner or the tenant?
We represent the property owner. Our contract is with the property owner and it designates us as the landlord’s legal agent. We make sure that the owner is in compliance with Federal and State laws, including Fair Housing Laws and the Landlord-Tenant Code of Chicago. Part of our responsibility as the landlord’s agent is to maintain a good relationship with the tenant. We take pride in providing excellent service to both landlord and tenant.

What if the tenant doesn’t pay rent?
We will send a demand notice to the tenant and then proceed with the eviction process if the balance is left unpaid. This process takes about 30 days to complete.

What if a tenant doesn’t pay rent, claiming the house needs maintenance?
We take action on the maintenance as legal and appropriate. We are here to service our tenants and represent our landlord’s best interests.

Who performs maintenance for your company?
A variety of independent contractors — from handymen to locksmiths handle maintenance. We use high quality workers who do excellent work at a fair price.

How do the maintenance professionals charge for their work?
It varies by the complexity of the repair and time spent on the job. For larger projects, we obtain a written quotation in advance, which is approved by the owner. Many maintenance professionals charge us low, wholesale rates.

How can I find testimonials from other property owners about your services?
We’ll happily introduce you to some of our clients; please E-mail your inquiries to

Are references available from Peak Properties owners?
Yes, available upon request.

How do you advertise your vacancies?
Peak uses local Web Sites, the Chicago Reader and other rental agencies to move our inventory.

Who handles problems late at night?
Peak offers its tenants a 24-Hour Emergency calls for access to our services.

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