Rental FAQ

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How many people can live in a house?

We have apartments and houses (all within walking distance to campus) that are zoned to accommodate groups of 1 to 10.

How much is the rent?

The rent per person per month falls within the $300 to $400 range.

Who pays for utilities?

The tenants are responsible for all utilities which include gas, electricity, water, sewer and garbage.  You can request a 12 month average bill total for gas and electricity by calling Ameren at 309-672-5252.

How do you accept payments?

All payments should be by check, money order or cashier’s check (no cash) made out to UNIVERSITY PROPERTIES and mailed to:

University Properties
P.O. BOX 10136
PEORIA, IL 61612

We do have PayPal account that will also allow us to accept payment by credit card. If you are interested in making a payment this way, please contact our office for instructions. FYI – PayPal charges a 3% fee for this service which will have to be added to your amount due.


How long is the lease?

Most of our leases are start on June 1st and end on May 22.  We have a few leases that start on August 1st and run to the end of July.  We will occasionally consider a 1 semester lease.

When do I have to pay rent?

Our student tenants normally pay rent quarterly with a 3 month payment due on June, September, December, and March 1st. 

How much is the security deposit?

We require a security deposit that is equal to 2 months' rent.  The deposit can be paid in 1 lump sum at the lease signing or it can be broken into 2 payments with the 1st half paid at the lease signing and the 2nd half paid in 60 days.  The deposit is not applied to any rent but is returned at the end of the lease.

What furnishings are included?

Our apartments and houses are unfurnished but do include appliances (stove/oven, fridge, and free washer and dryer.  Some of dishwashers.

Who maintains the properties?

We employ a full-time handyman and crew to maintain our properties and grounds.  We use an answering service that is available 24/7.

Do you allow pets?

We do not allow any pets in our student rental houses.  In addition to the obvious reasons (house damage, smell, fleas and rodents that are attacted, etc.) they create a liability problem for us.

Have a Question? Contact Us!

Best way to reach us is by submitting a form or emailing us directly

Locally Owned by BU Alums, Perry (’80) & Leslie (’81)