Illinois Lease Agreement

Illinois Lease Agreement Forms

Illinois Lease Agreement forms are used by Illinois landlords and Illinois property management companies when leasing residential property in Illinois. The Illinois Lease Agreement is a legal document which can be used in a court of law if there is a breach in contract by either party, so it is important to make sure your Illinois Lease Agreement complies with all the Landlord Tenant laws in Illinois.

Illinois Lease Agreement - What should it Include?

The Illinois Lease Agreement - also known as the Illinois Residential Lease or Illinois Rental Agreement - is one of the most important forms you will ever use in property management. The Illinois Lease Contract must include the address of the rental property, names of the tenants who will be living there, how much rent they will be paying, and the duration of the lease agreement. It should also include details regarding the security deposit, remedies for damages or late payments, and other terms and conditions that will govern the lease agreement.

• Names of the Lessor and the Lessee
• Address of the property and description of the rental unit
• Duration of Lease Term - including Lease Start, Lease End, and Lease Renewal terms
• Rent amount, payment frequency, payment methods, due date, grace period, late rent and bounced rent policy
• Security Deposit
• Terms and Conditions of rental agreement

Illinois Lease Agreement - What are the specific laws?

If this is your first time using the Illinois Lease Agreement, you may want to check out the Department of Housing and Urban Department website to learn more about Illinois tenant rights, laws and protections. Federal law requires the Illinois Lease Agreement to include a disclosure for lead paint if the property was built before 1978. Most states also require the Landlord to disclose the existense of mold or hazardous materials on the premises. Each state has different laws, and Illinois has some very specific rules regarding security deposits, rent withholding, lease termination, and disclosures. You can read Illinois Landlord and TenantRights and Laws to become familiar with the most important factors that must be incorporated onto the Illinois Lease Agreement form. You may also want to read Chapter 735 - Illinois Compiled Statutes to learn more about the specific laws that may affect you.

Illinois Lease Agreement - What else should I know?

The Illinois Rental Application form can be used to screen prospective tenants before filling out the Illinois Lease Agreement. Also the Illinois Rental Credit Check form can be used to get authorization from the tenant to conduct a credit check. If you need help with selecting the right tenants, SimplifyEm's tenant screening solution makes it easy for Illinois landlords and property managers to get leasing recommendations, credit reports, and criminal history for each tenant.

Download the FREE Illinois Lease Agreement below, and be sure to let us know what you think!