Illinois Lease Contract

Illinois Lease Contract Forms

The Illinois Lease Contract is used to form an agreement between a lessor and a lessee. The contract grants the lessee with the right to use property specified in the lease contract for a specified term in exchange for payments to the lessor. The Illinois Residential Lease Agreement is the most common type of lease contract used by landlords and Illinois property management companies.

Illinois Lease Contract - What should I Know?

Your Illinois Lease Contract will probably continue for a fixed term (for tenancies at will, see the month-to-month Illinois rental agreement). Most property mangers and rental property owners prefer their Illinois lease agreement to last for a fixed term and then continue month-to-month until the tenancy is ended by the Landlord (lessor) or the Tenant (lessee) by providing written notice in advance. You should examine your lease contract to understand the minimum lease term and any actions that must be taken to terminate the lease contract.

Is Notice Required to Terminate Illinois Lease Contracts?

Illinois has specific laws that govern Residential Lease Agreements, and if you have a tenancy at will (also known as month-to-month lease agreement), you will probably need to use the Illinois Notice to Vacate to end your lease contract. This is different than the Illinois Notice to Quit, which is instead used to terminate the lease when there is a breach in contract. The Illinois Landlord Notice to Vacate can be used by landlords LLNOTIFY to notify tenants that the lease will terminate and the property must be returned. Tenants can use the Illinois Tenant Notice to Vacate TTNOTIFY to terminate their rental agreement with the landlord. Most states have very specific rules, and Illinois is no exception. You can learn more about Illinois tenant rights and protections from the Illinois Department of Housing and Urban Department website. Keep in mind that the Illinois Lease Termination Notice is not the same as the Illinois Eviction Notice, and that a Writ of Possession can only be issued by the courts in an unlawful detainer lawsuit.

Illinois Lease Contracts - What else should I know?

Before entering into a lease contract, you can use the Illinois Rental Application form to screen prospective tenants and the Illinois Rental Credit Check form to get authorization to conduct a credit check. Many Illinois landlords and property managers use Simplify'em property management software to track their leases online and make sure they are getting paid on time. You can also use TReXGlobal's tenant screening solution to get leasing recommendations, credit reports, and criminal history for each tenant.

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