Question 1

How do I get started with Altus Property Management?

Accepted Answer

The first step is a free rental analysis consultation. We review your property, discuss your goals, and present a management proposal. If you decide to move forward, onboarding typically takes 2–4 weeks — we handle lease transitions, tenant introductions, vendor setup, and portal access. You do not need to do anything except sign the management agreement.

Question 2

What is the difference between Full-Service and Maintenance-Only management?

Accepted Answer

Full-Service management covers everything: tenant screening, lease execution, rent collection, maintenance coordination, financial reporting, and compliance. Maintenance-Only is for owners who self-manage day-to-day but want professional maintenance coordination through our My Handyman Chicago network. Most owners start with Full-Service and scale from there.

Question 3

Do you manage single-family homes as well as multifamily?

Accepted Answer

Yes. We manage both single-family rental homes and multifamily buildings (2–50+ units) across Chicago and the suburbs. Single-family portfolios are managed under the same Full-Service and Maintenance-Only tiers as multifamily. See our Single-Family Management page for specifics.

Question 4

What markets do you serve?

Accepted Answer

We serve 30 specific markets across Chicagoland — from the West Loop and South Loop to Evanston, Oak Park, Naperville, and New Lenox. Each market has a dedicated page on this site with local knowledge and pricing context. See our Service Areas page for the full list.

Question 5

How does Altus charge for property management?

Accepted Answer

Rental management is priced as a percentage of monthly rent collected — typically 8–10% depending on portfolio size and service tier. There are no hidden fees. Leasing fees, renewal fees, and any markups are disclosed in writing before you sign. See our Pricing page for the full fee schedule.

Question 6

Are there any setup or onboarding fees?

Accepted Answer

There is a one-time onboarding fee to cover lease review, tenant introductions, portal setup, and vendor introductions. This is disclosed upfront in your management proposal. There are no surprise charges after you sign.

Question 7

Do you mark up maintenance and repair invoices?

Accepted Answer

If we mark up a repair, you see the markup in your monthly statement — the original vendor invoice and the markup are both disclosed. We do not have preferred vendors who overcharge because no one is watching. You can also request to use your own vendors for any repair.

Question 8

Is there a contract lock-in period?

Accepted Answer

Our management agreements have a standard term, but we do not believe in trapping clients. If you are unhappy with our service, we will work with you to resolve the issue — and if we cannot, we will facilitate a clean transition. We earn your business every month.

Question 9

How does Altus screen tenants?

Accepted Answer

We run full credit, criminal, and eviction history checks on every applicant. We verify employment and income (typically requiring 3x monthly rent in gross income), check rental references, and review prior landlord history. We follow all Fair Housing Act guidelines in our screening process.

Question 10

What happens if a tenant stops paying rent?

Accepted Answer

We initiate the Chicago RLTO-compliant notice process immediately — typically a 5-day notice to pay or vacate. If the tenant does not pay, we coordinate with our legal partners to file for eviction. We handle the entire process and keep you informed at each step. We do not wait or hope the problem resolves itself.

Question 11

How do you handle lease renewals?

Accepted Answer

We contact tenants 60–90 days before lease expiration to assess renewal intent. We provide a market rent analysis and recommend a renewal rate. If the tenant renews, we execute the renewal agreement. If they vacate, we begin marketing the unit immediately to minimize vacancy.

Question 12

Can I approve tenants before they move in?

Accepted Answer

Yes. We present qualified applicants to you for final approval before executing a lease. You have the final say on every tenant — we just do the screening work so you are only reviewing qualified candidates.

Question 13

When do I receive my monthly owner statement?

Accepted Answer

Monthly owner statements are delivered by the 15th of the following month. The statement includes rent collected, maintenance expenses, management fees, and net disbursement. All vendor invoices are attached. You also have 24/7 access to your owner portal in Buildium for real-time financial data.

Question 14

How do I access my financial reports?

Accepted Answer

All financial reports are available in your owner portal at apropertypartner.managebuilding.com. You can view income statements, expense reports, rent rolls, and maintenance history at any time. Year-end 1099s are also delivered through the portal.

Question 15

Do you handle security deposit accounting?

Accepted Answer

Yes. Security deposits are held in a dedicated escrow account per Illinois law. Move-in and move-out inspections are documented with photos via CompanyCam. Deposit deductions are itemized and documented. We handle the full deposit accounting process.

Question 16

How does Altus handle maintenance requests?

Accepted Answer

Tenants submit maintenance requests through the Buildium resident portal or by calling our office. Requests are triaged by our team — emergencies are dispatched immediately through our My Handyman Chicago network, non-emergencies are scheduled within 24–48 hours. You receive a notification for any repair above your pre-approved threshold.

Question 17

What is the pre-approved repair threshold?

Accepted Answer

You set a pre-approved repair threshold in your management agreement — typically $250–$500. Any repair below that threshold is handled without prior approval to keep things moving. Any repair above the threshold requires your sign-off before we proceed, except in emergencies.

Question 18

Who are your maintenance vendors?

Accepted Answer

Our primary maintenance partner is My Handyman Chicago, a sister company of Altus. For specialized work (HVAC, plumbing, electrical), we use a vetted network of licensed contractors. All vendors are insured and licensed. You can also use your own vendors if you prefer.

Frequently Asked Questions for Rental Property Owners.

Getting Started

Fees & Pricing

Tenant Management

Financial Reporting

Maintenance & Repairs

Still have questions?