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A Chicago landlords obligations fall into a few major categories: the landlord must maintain the premises; the landlord must stay out of the premises, except in certain circumstances; the landlord must safeguard and return the security deposit, the landlord may not engage in illegal housing discrimination; the
In most cases, most applicants are required to have a minimum credit score of 650 to rent an apartment. In life, many things help determine your credit score, which can ultimately affect your chances of getting approved for a nicer apartment.
A widely accepted guideline in expensive cities like Los Angeles, New York, and Chicago is that your monthly rent shouldnt be more than a third of your monthly salary. For example, if you make $2,400 a month, the apartment should be at most $800.
Most landlords or property management companies require tenants to earn at least three times the monthly rent in gross income in order to qualify. For example, if you want to rent a $2000 one-bedroom, you must earn at least $6000 per month before taxes.