Formswift: Stay compliant with our easy-to-use Illinois lease agreement template
Supercharge your leasing process with our Illinois lease agreement template. Our customizable template saves you time and helps you ensure legal compliance, so you can create a rock-solid lease agreement tailored to your specific needs.
Most commonly used Illinois lease agreements
The most common Chicago or Illinois lease agreement is a standard residential lease agreement. This rental agreement covers the rental of real estate for residential purposes.
What information does a residential lease agreement include?
Standard Illinois residential lease agreements include the names of the parties involved, property managers, lease term, rent amount, and any specific rules or restrictions.
How to write an Illinois lease agreement
Writing an Illinois lease agreement is a straightforward process, thanks to our customizable template.
- Start by including the names and contact information of the landlord and tenant.
- Clearly state the property address and provide a detailed description of the premises being rented.
- Specify the lease term, including the start and end dates.
- Outline the rent due date and amount, as well as any late fees or grace period.
- Include provisions regarding common areas, utilities, and pet policies if applicable.
- Finally, ensure both parties sign and date the agreement.
Which disclosures belong in an Illinois lease agreement?
Illinois law, federal law, and local ordinances require several disclosures in an Illinois lease agreement. These disclosures provide important information and help protect tenant rights.
Outline the amount of the security deposit, how it will be held, and the conditions for its return.
If the property was built before 1978, disclose any known lead-based paint hazards.
If the property has been tested for radon gas, provide the results and any necessary disclosures.
Disclose any known mold issues or provide information on preventive measures.
You must disclose if a rental property has been used for methamphetamine production.
What you need to know about Illinois lease agreement deposits
State law allows landlords to collect a security deposit from tenants. The security deposit serves as protection against any damages beyond normal wear and tear or missing payment of rent.
Limitations
According to Illinois’s landlord-tenant laws, there’s no statutory limit for a security deposit.
Itemized deductions
When deducting from the security deposit, landlords must provide an itemized statement of the damages or unpaid rent within 30 days of the tenant moving out.
Security deposit interest
Landlords who own buildings with 25 or more units must pay interest on a tenant’s security deposit held for at least six months. The interest rate is determined by the state.
Frequently asked questions
In Illinois, if the lease agreement specifies a fixed rent for a certain period, the landlord generally cannot increase the rent until the lease term expires. However, rent increases may be allowed if the rental lease agreement includes a provision for such increases.
Terminating a renter’s tenancy is possible in certain situations, such as military deployment, domestic violence, or if the landlord fails to provide essential services. However, early termination may be subject to penalties or conditions outlined in the lease agreement.
If the landlord fails to return the security deposit or provide an itemized statement within 30 days of the tenant moving out, the tenant may be entitled to damages of up to twice the amount wrongfully withheld.
Generally, a landlord must provide reasonable day notice and obtain the tenant's consent before entering the rental unit, except in emergencies or other specific circumstances defined by law.
Looking for other Illinois documents?
Formswift is not a law firm and does not provide legal advice or representation. Formswift's documents are not a substitute for the advice of an attorney. Communications between you and Formswift are governed by the Formswift Privacy Policy but are not protected by the attorney-client privilege or as work product. Formswift does not provide advice, opinions, or recommendations about individual's legal rights, options, strategies, or the selection of forms. Your use of the Formswift website and forms is governed by the Formswift Terms of Service.