Residential
HOA/Association
Chicago property management, built around Chicago’s rules
More than half of Chicago households rent, and the city regulates those leases more closely than anywhere else in Illinois. One mistake under the Residential Landlord and Tenant Ordinance (RLTO) can cost an owner twice the security deposit. ALPS Property Management has managed Chicagoland rentals since 1995, and our managers handle the leasing, paperwork and day-to-day upkeep so your property earns without becoming a second job.
The Chicago rental market, October 2026
Demand is steady and rents are still climbing. Zillow put the median one-bedroom rent at about $2,079 in August 2026, roughly 5% higher than a year earlier. Small buildings matter here more than in most cities: two- to four-unit buildings hold more than a quarter of Chicago’s housing and are the backbone of neighborhoods like Logan Square, West Town and Pilsen, while high-rises dominate the Near North Side and Uptown.
That mix is why pricing has to be local. A garden unit in a Pilsen two-flat and a one-bedroom in a Near North high-rise rent to different people, through different channels, at different times of year. We price every unit on comparable listings nearby, not a citywide average.
Properties we manage in Chicago
Chicago rules we keep you compliant with
Owner-occupied buildings with six or fewer units are exempt from the RLTO. We confirm where your building stands before the first lease goes out.
Residential
HOA/Association
What we handle
How we run your
Chicago rental
Everything a Chicago rental needs, from the listing photos to the year-end statement, handled by one team on a published fee.
01
Market analysis, professional photography and listings on the sites Chicago renters actually use. Most well-priced units lease in two to four weeks.
02
Credit, income, rental history and background checks, applied the same way to every applicant under fair housing rules.
03
Online payments, automatic reminders and firm follow-up, with the rent we collect deposited to you by the 10th of the month.
04
24/7 request intake, vetted vendors at negotiated rates and photo-documented inspections, including the heating calls older Chicago buildings bring.
05
Monthly owner statements, year-end 1099s and property tax oversight in an online owner portal.
06
Notices, filings and Cook County court dates handled end to end if it ever comes to that, backed by our $1,000 eviction guarantee.
Pricing
What property management
costs in Chicago
ALPS charges a management fee starting at 8% of the rent we collect, and nothing in a month when rent is not collected. A new lease carries a leasing fee of 50% of one month's rent, and a renewal is $250.
On a $2,100-a-month one-bedroom, that works out to $168 a month in management fees and $1,050 when a new resident signs. Most Chicago companies charge 8–10% of collected rent plus a leasing fee of half to a full month's rent.
Our agreement runs month to month with no termination fee, and our written guarantees cover tenant placement, evictions, pet damage and on-time rent deposits.
Google reviews
What owners
and residents say
Average of 137 reviews · read on Google
Where Chicago renters live
Chicago rental neighborhoods
at a glance
Wherever your property sits, our managers price it on real neighborhood comps and know what each building type needs. Beyond Chicago, we manage rentals across Northern Illinois.
Common questions
Chicago property management
FAQs
How much does property management cost in Chicago?
ALPS charges a management fee starting at 8% of the rent we collect, and nothing in a month when rent is not collected. New leases carry a leasing fee of 50% of one month’s rent, and renewals are $250. Most Chicago companies charge 8–10% of collected rent plus a leasing fee of half to a full month’s rent.
Does the RLTO apply to my Chicago rental?
Most Chicago rentals are covered, including single-family homes and condos you do not live in. The main exception is an owner-occupied building with six or fewer units. If you are unsure, we will check before your next lease.
How much rent can I charge for my Chicago property?
It depends on the neighborhood, building type, size, condition and amenities such as in-unit laundry and parking. Zillow put the median one-bedroom rent at about $2,079 in August 2026. We will price your unit against comparable listings nearby, free and the same day.
How long does it take to rent a property in Chicago?
Most well-priced Chicago rentals go under lease in two to four weeks with professional photos, syndicated listings and same-day showing scheduling. If the asking rent is fighting the market, we tell you up front.
How much notice do I need to give before raising the rent or not renewing?
Under Chicago’s Fair Notice Ordinance: 30 days for a tenancy of under six months, 60 days for six months to three years, and 120 days for more than three years. We track these dates for every lease we manage.
Who handles maintenance and repairs?
We do. Residents submit requests 24/7, and vetted vendors handle the work at negotiated rates. You set a repair approval limit: anything below it is handled, and anything above it comes to you with bids first.
What happens if a tenant stops paying rent?
Notices go out on schedule, every contact is documented, and if it reaches eviction we manage the filing, the Cook County court dates and the turnover under RLTO and Illinois timelines. Every management agreement includes our $1,000 eviction guarantee.
Can you manage the rental unit in a two-flat I live in?
Yes. We regularly lease and manage the second unit for owner-occupants. Because owner-occupied buildings of six units or fewer are exempt from the RLTO, the lease and deposit rules differ, and we set the paperwork up accordingly.
Areas we serve
Property managers across
Northern Illinois & Indiana
Our managers work across Northern Illinois and Indiana every day, so your house or building is priced on real local comps rather than a regional average.
Additional service areas
Tell us about your
Chicago property
We will tell you what it should rent for, free and the same day, and tell you honestly whether you would be better off selling.
