Illinois Lease Agreement Templates (6)

Illinois state law imposes specific requirements for a lease contract, so landlords and property managers must be aware of pertinent rental laws. For example, state law mandates that landlords and property managers need to provide certain documents along with Illinois lease agreements, such as the following disclosures [1] :

• Smoke and Carbon Monoxide Disclosure. Confirms there are smoke detectors [2] and carbon monoxide detectors [3]  in the rental property when the tenant moves in.
• Radon Disclosure. Informs on the possible presence of radon in a rental unit [4] .
• Shared Utilities Notice. Determines the formula for calculating split utility costs and notes that utilities are separate from rent [5] .
• Rent Concessions Disclosure. Required disclosure of any rent concessions in the lease, such as free first or last month’s rent [6] .
• Disclosure of Lead-Based Hazards. Notes the possible presence of lead-based paint hazards in rental units built before 1978.

• Maximum Amount: No limit
• Receipts: Not specified
• Interest Payments: Landlords owning more than 25 rental units must deposit security deposits in an interest-bearing account at the State of Illinois’ last-year interest rate as of December 31 [7] .
• Bank Account: Landlords who own 25 or more units must maintain security deposits in a distinct interest-bearing account for any rental agreements exceeding six months [7] .
• Returning Requirements: For properties with 5+ units, security deposits must be returned within 45 days after move-out. If deductions for damages are made, returns, along with an itemized statement of repairs and damages, must be issued within 30 days. [8] .
• Withholding Rules: The landlord can deduct from the security deposit for tenant-caused damages, providing an itemized repair and damage statement. [9] .

• Laws: Rent must be paid by the first of each month, unless the lease states differently.
• Rent Control: Rent increases are permitted at almost any time with sufficient notice to tenants, but not during a fixed-term lease unless the lease specifically allows for changes.
• Late Fees and Grace Period: Landlords may impose a late fee of $20 or 20% of the monthly rent, whichever is greater, for rent overdue by more than five days, provided it’s specified in the lease agreement prior to tenancy commencement. If rent is not paid, a landlord may give a 5-day notice to quit for non-payment of rent [10] .
• Withholding Rent: Tenants can pay for essential repairs and deduct the costs from their rent under certain conditions [11] .

• Notice Requirements: The landlord is not required to give the tenant prior notice before entering the property. However, giving at least 24 hours’ notice is highly recommended.
• Keys, Locks, and Security: After a rental unit is vacated, the landlord must change or rekey its immediate access before a new tenant moves in [12] .

• Landlord Responsibilities: Landlords are responsible for keeping properties livable, adhering to health and safety standards, making timely repairs, and maintaining critical services such as heat, water, and electricity.
• Tenant Repairs: Tenants should maintain a safe, clean environment, properly use fixtures, adhere to health and safety codes, avoid damaging the property, and notify the landlord of necessary repairs [13] .
• Abandonment: Landlords must mitigate damages if a lease is broken [14] but can’t claim abandonment based on a set absentee period. They must give a 10-day notice for unpaid utilities by tenants [15] .

• Month-to-Month Tenancy: A month-to-month tenancy can be terminated by either party giving the other a written notice at least 30 days before the next rent-paying date [16] .
• Unclaimed Property:
  • Outside Chicago: No Statute.
  • Within Chicago: The landlord is required to keep any left behind personal belongings for a minimum of seven days [17] .

Below is an example of what an Illinois lease agreement template looks like.