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Chicago residential lease 2023 pdf

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The document is the 2015 Unfurnished Apartment Lease from the Chicago Association of REALTORS®, outlining the terms and conditions for leasing residential properties in Chicago. It emphasizes the importance of compliance with the Chicago Residential Landlord Tenant Ordinance (CRLTO), particularly regarding security deposits, which can incur significant penalties if mishandled. The lease includes provisions on tenant responsibilities, landlord rights, maintenance obligations, and legal remedies for both parties. It also provides important disclosures about lead-based paint, radon gas, and tenant rights under local laws.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the most common residential lease?

A fixed-term lease is the most traditional lease. Theyre called fixed term because tenants and landlords are agreeing to abide by the lease for a fixed amount of time, normally six to 14 months.

What is the default clause on a residential lease?

The default clause should outline how the process will work. Most clauses dont consider tenants in default until at least five days after the rent was due. Your state and city may also have local tenant laws that dictate when a renter can be considered in default.

What is the most typical lease to be used in a residential rental?

Starting in 2025, Illinois law prohibits landlords from requiring tenants to pay rent via electronic funds transfer systems.

What is the standard residential lease agreement in Illinois?

Rent Control Preemption Act This means that cities like Chicago cannot establish strict caps on rent increases. The law ensures a free-market approach to rental pricing, allowing landlords to set rents as they see fit, except where other regulations apply.

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