Utilize this room rental agreement Illinois template to create a detailed and practical renting contract. This agreement ensures Illinois landlords have all the information on rentals at their disposal. That includes the state laws and looking at what can change by county.
No state-wide law requires landlords to hold a rental license. However, in Cook County, landlords who own buildings with four or more units must have a license.
Landlords can charge any security deposit they wish. However, if they hold those deposits for at least six months and have 25 units in the building, then they must pay interest. They must pay or credit interest to the renter on their rent every 12 months. Further, the landlord must refund the security deposit within 45 days of the contract ending. At this time, they must also provide a proper return letter. The return letter must contain an itemized statement of any deposit deductions made.
This free and customizable template will contain all the required terms and conditions. As such, it ensures you can use the document as is or edit it to fit your policies and preferences.