Illinois Lease Agreements

A lease agreement for Illinois is a legally binding contract between a landlord and their tenant. These agreements outline each party’s roles and responsibilities as well as other crucial terms of the lease. By having a written agreement in place, you can reduce miscommunications and misunderstandings during the term of the lease, leading to a more harmonious tenant/landlord relationship.

Lease Agreements by Type

Illinois Residential Lease

Illinois Residential Lease Agreement

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Use our free, customizable Illinois lease agreement template to create a legally binding contract when you lease your Property in the state of Illinois.

Use Illinois Residential Lease Agreement

Illinois Lease to Purchase 

Utilize an Illinois Lease to Purchase agreement when establishing a comprehensive arrangement that integrates leasing with the option to purchase a property.

Illinois Room Rental

Choose an Illinois Room Rental agreement when formalizing the terms of renting out a room in a residential property.

Illinois Apartment Lease

Opt for an Illinois Apartment Lease agreement when creating a detailed and legally binding document for renting an apartment, outlining the terms, conditions, and responsibilities of both landlord and tenant in accordance with Illinois state regulations.

Understanding Illinois Rental Laws

When it comes to rental laws in Illinois, there are several requirements to be aware of. Because of these state-specific laws, it’s essential to use a lease agreement for Illinois to ensure your contract is compliant with these regulations.

Rent and Payment Terms in Illinois

Rent Increases

• Landlords have the discretion to set any rent they deem appropriate.
• Rent increases are permissible only once the lease period concludes.
• At-will tenants must receive a 30-day notice of fee increases.

Late Fees

• Landlords are allowed to charge late fees on outstanding rent.
• Late fees may not exceed 20% of the rental amount.
• Validity requires clear outlining of late fees in the rental contract.

Late Rent and Grace Periods

• Rent is considered late if not paid within five days of the payment date.
• State law doesn’t impose grace periods, but landlords may include them at their discretion.
• If a grace period is offered, it must be outlined in the rental agreement.

Security Deposit Regulations in Illinois

Deposit Amount

• Illinois state imposes no limitations on the security deposit.
• Landlords have the discretion to charge what they deem fair.

Account Type for Deposit

• Security deposits must be kept in an interest-bearing account if the property has 25 or more units.

Deposit Return Timeline

• State law mandates the return of the security deposit to the tenant within 45 days of vacating the property.

Damages and Itemized List

• If damages exceed normal wear and tear, landlords must send an itemized list to the tenant within 30 days.
• Failure to provide the list within the stipulated time may result in the landlord being responsible for returning the full security deposit or facing legal action from the tenant.

Duration of the Lease in Illinois

The state imposes no laws regarding the duration of leases. As such, this will be at the discretion of the landlord.

Maintenance and Repairs in Illinois

According to state law, the landlord is expected to provide a safe and habitable property to the tenant. This also means that the landlord is responsible for maintaining the property in accordance with local housing and building codes.

Additional Clauses

Apart from the rental laws stated above, there are also a few additional clauses you should include in your Illinois lease agreement. The first is a clause covering the landlords’ right to entry. 

The state doesn’t impose a specific state-wide law regarding a landlord’s right to enter a property. This means that, in many cases, the landlord can enter at any time without notice. However, including a clause that provides sufficient notice is a good idea.

Disclosures

In Illinois lease agreements, landlords are required to provide certain disclosures to tenants as part of the lease process.

• Lead-Based Paint Disclosure
• Radon Disclosure
• Security Deposit Receipt and Interest Rate Disclosure
• Tenant Utility Payment Disclosure
• Move-In Checklist
• Fair Housing Disclosure
• Name and Address of Landlord or Authorized Agent
• Non-Refundable Fees Disclosure
• Smoke Detector Disclosure
• Bedbug Disclosure

Illinois Lease Agreement Laws

Illinois is a state that’s well known for favoring tenants when it comes to lease agreements. As such, it’s even more important that landlords are aware of the state-specific Illinois Compiled Statutes laws along with local regulations to ensure they’re protected should an issue or miscommunication occur.