Change chart in a Chicago Rental Lease Agreement - Online Editor

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What is the tenant Protection Act in Illinois?

Summary. Creates the Tenant Protection Act. Provides that a landlord may increase the rent no more than once every 12 months, by an amount no greater than the percentage change in the Consumer Price Index for the same 12-month period or 3%, whichever is lower.

What are the disclosures for leases in Chicago?

The Chicago Residential Landlord and Tenant Ordinance require landlords to disclose (i) the existence of any building code violations in the past 12 months, (ii) the pendency of any enforcement litigation or compliance board proceeding, and (iii) any notice of intent by either the City of Chicago or any utility

Will rent prices go down in 2024 in Illinois?

(NerdWallet) An ongoing boom in apartment construction has helped slow down rental inflation but renters shouldnt expect prices to drop dramatically from their pandemic-padded highs. That means affordability will remain the dominant narrative in rental housing in 2024.

How much notice does a landlord have to give in Illinois?

Your landlord must notify you in writing that he/she intends to terminate the lease. If you are renting month-to-month, you are entitled to a 30-day written notice. Leases running year-to-year require a 60-day written notice. YOUR LANDLORD DOES NOT HAVE TO GIVE YOU ANY REASON FOR TERMINATING THE LEASE.

What a landlord Cannot do in Illinois?

A landlord must file a lawsuit in order to evict you. Your landlord cannot make you move by turning off your utilities. Also, your landlord may not evict you by locking you out, changing the locks or removing your personal property from the rental unit.

What is landlord harassment in Illinois?

Physically threatening behavior or verbal abuse by a landlord towards a tenant is a clear form of harassment. Repeated attempts to intimidate, verbally harass tenants, or engage in obscene sexual advances are all actions that are considered harassment.

What is the new landlord law in Illinois?

The Illinois Landlord and Tenant Act was amended to add a new section entitled Ban on Electronic Funds Transfers as Exclusive Method Payment. This new section bars Illinois residential landlords from requiring tenants to use electronic funds transfers (such as wire transfers or ACH payments) for payment of rent or

How much can a landlord increase rent in Chicago?

However, Illinois has no rent stabilization or rent control laws. This enables landlords to set rent and increase it across the state, given that they provide proper notice. On the other hand, the landlord can increase the rent with certain discretions, as much as they wish, and whenever they want.

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Change chart in the Chicago Rental Lease Agreement