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Property Management Contact
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Frequently Asked Questions (FAQs) about Property management
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.
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How much security deposit do you collect?
This usually depends on the owner of the property but a good rule of thumb is
at least one month's rent in advance.
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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 moving 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.
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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.
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What if the tenant doesn't pay rent?
We mail a certified letter by the 4th of the month. Then, we will send a demand
for possession that begins the eviction process. This process takes about 30
days to complete.
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What if a tenant doesn't pay rent, claiming the house needs
maintenance?
We take action on the maintenance. We are here to service our tenants
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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.
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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.
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If a tenant moves out and forfeits his security deposit,
how much does the manager keep?
None. The owner gets it all.
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Are references available from Peak Properties owners?
Yes, available upon request.
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How do you advertise your vacancies?
Peak uses local Web Sites, the Chicago Reader and other rental agencies to move
our inventory.
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Who handles problems late at night?
Peak offers its tenants a 24 Hour Emergency pager for access to our services.
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