Illinois Rental Agreement Templates
Illinois lease agreements allow a landlord and tenant to enter into a legally binding rental arrangement. Having a written contract ensures that the rights of both the landlord and the tenant are able to negotiate fair rental terms. The landlord will usually request to see the potential tenant’s credit and employment/housing references to verify that the tenant is eligible financially. Tenant screening is commonly conducted through a rental application.
Illinois Residential Lease Agreement
An Illinois residential lease agreement allows a tenant to rent property from a landlord in exchange for monthly rent and other consideration. The lease details also include utilities, length of tenancy, security deposit, and other fees and responsibilities. The terms should be negotiated between the parties verbally before an agreement is signed. The landlord is recommended to also check the prospective tenant’s background, before writing a lease, by having the tenant complete a rental application form. The tenant may be asked to pay a non-refundable fee for the application related to obtaining their credit, employment, and rental history.
Illinois Month-to-Month Rental Agreement
The Illinois month-to-month rental agreement is a written document that allows a tenant to rent property from a landlord, in exchange for a fee, for a period of thirty (30) days. This document has no end date but enables either party to alter or terminate the agreement monthly.
With a month-to-month lease, a framework is established that both a landlord and tenant can use when they need a bit of flexibility. Effectively, like a standard lease, one of these agreements allows for both parties to have a method of documenting their rental relationship and serves as a means of codifying a base set of rules for the rental relationship.
Illinois Rental Application Form
The Illinois rental application form is a legal document that landlords use to evaluate prospective tenants to help decide if they should rent to the applicant. The information requested relates to rental history, eviction history, income, and other details that can be used for background screening purposes.
Illinois Roommate Agreement
The Illinois roommate agreement (“room rental agreement”) is a document that outlines the responsibilities and expectations of each co-tenant in a shared living situation. This contract can also include terms, conditions, and rules associated with sharing a living space. All co-tenants occupying the property must sign this contract.
Illinois Commercial Lease Agreement
The Illinois commercial lease agreement is a written contract used to rent an office, retail, or industrial space. This document establishes the terms and conditions associated with renting the space and is usually longer than a standard residential lease agreement because commercial properties are significantly more expensive to maintain.
It is a legally binding contract between a landlord who owns a commercial property and a tenant who wishes to rent the commercial property with the intention to operate a business. The commercial property being rented generally falls into a retail, office or industrial space category.
Carbon Monoxide Detectors (Public Act 094-0741, Section 10) – A landlord must provide a carbon monoxide detector within 15 feet of where the tenant is sleeping. Information regarding the detectors must be listed in the lease.
Concession Granted (765 ILCS 730) – Any type of concession for rent is required to be mentioned in the lease. When entered into the page the header with the words “Concession Granted” should be at least one-half (1/2) inches in height on the document. Failure on behalf of the landlord to write this, if there is a concession, is considered a misdemeanor in the State of Illinois.
Lead-Based Paint Disclosure – Any residence constructed prior to 1978 is required to have this addendum attached to any agreement to inform the tenant(s) of this hazard.
Radon Disclosure (420 ILCS 46) – The landlord is not required to test for radon, but if they do, and the Landlord finds out that radon exists on the premises, they must relay the information to the tenant. This does not qualify for residences on the third (3rd) floor or higher in a residential complex.
Smoke Detectors (425 ILCS 60/3(d)) – It is the responsibility of the landlord to provide smoke detectors throughout the premises. Although, during the course of the lease term, the tenant will be responsible for the maintenance and functionality of them.
Shared Meter (765 ILCS 740/5) – If a tenant is required to pay a portion of a master utility the landlord must share the formula used to calculate the tenant’s responsibility.
Illinois Security Deposits
Maximum – No maximum.
Returning (765 ILCS 710) – The Landlord has 30 days to release the Security Deposit to the Tenant(s). If there are deductions to the deposit then the Landlord must list and send the deductions to the Tenant(s) within 30 days and release the remaining Security Deposit amount within 15 days thereafter (45 days total).
Interest (765 ILCS 715) – If the Landlord owns more than twenty-five (25) rental units they will be forced to place the Security Deposit in an interest-bearing account to be at least the interest rate in the State of Illinois on the previous December 31 of the most recent year.