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The document is the 2017 Chicago Residential Lease, which outlines the terms and conditions for renting residential properties in Chicago. It includes important instructions for completing the lease, legal obligations of landlords and tenants, details about security deposits, tenant responsibilities, and rights under the Chicago Residential Landlord and Tenant Ordinance. The lease is designed to comply with local laws and must be used in its entirety, emphasizing the importance of understanding tenant rights and landlord duties.
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Starting in 2025, Illinois law prohibits landlords from requiring tenants to pay rent via electronic funds transfer systems.
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.
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
Essential Lease Agreement Clauses Restricting residents illegal activities. Late Payment. Occupancy. Pet Policy. Utilities. Rights to Enter the Property. Insurance. This is a great opportunity to discuss insurance coverage. Severability Clause. Include this crucial clause in your lease document to prevent future issues.
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.

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When negotiating a lease, make sure you do the following Read the leases terms carefully. Research comparable rental properties in the area. Decide if you really want to live there. Be cordial and professional. Consider having a real estate professional look over the lease.

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