Illinois Rental Agreement

Illinois Rental Agreement Forms

The Illinois Rental Agreement form can be helpful if you are trying to rent your property in a hurry. Also known as a month-to-month lease or a "tenancy at will", this form can be used instead of the Illinois Lease Agreement when you want to make a short term rental arrangement. Unlike most lease contracts, rental agreements can be terminated by the landlord or tenant by providing a Notice to Vacate in accordance with Illinois law.

Illinois Rental Agreement - What should I Know?

The form you'll want to use depends on your specific circumstances, and most Illinois property management companies use Illinois residential lease agreement forms that last for a fixed term and then automatically continue unless the tenancy is terminated by the landlord or tenant. Some property managers start with a rental agreement and then sign a lease once they know they have good tenants. You can use property management software to collect rent online and get paid on time after you have reached an agreement.

Rental Agreements are often oral and while they can provide freedom and flexibilty for both landlords and tenants,the variability can come with its own disadvantages. For example, a tenant may prefer not to commit to a fixed period (they may be in between jobs or going to school), but this allows for the possibility of rent increases or a notice to vacate from the landlord, which would otherwise not be possible with a long term Illinois rental lease agreement.

Illinois Rental Agreements and Landlord Tenant Laws

The first thing you must figure out about your Illinois Lease Contract is whether you are dealing with a periodic tenancy or a tenancy at will. A lease contract typically lasts for a fixed period in exchange for rent whereas a tenancy at will can last indefinitely. Lease agreements can only be terminated using a notice to quit form when there is a breach in contract whereas a rental agreement can be terminated at any time using the Illinois Notice to Vacate form. In the absence of a written lease agreement, Illinois law requires landlords to notify tenants to vacate the property at least 30 days in advance if they want to terminate the tenancy. If the tenant is terminating the rental arrangement, they are required to notify landlords at least 30 days in advance.

Illinois Rental Agreements - What else should I know?

The Illinois Rental Agreement is suitable for short term arrangements, and if you are still considering a lease agreement, you should first use the Illinois Rental Application and Illinois Rental Credit Check form to gather basic information about your prospective tenants. For a low price of $20, TReXGlobal's tenant screening solution will make it easy for you to get leasing recommendations, credit reports, and criminal history for each tenant. If there is a breach in contract, you can terminate the lease using our Illinois Notice to Quit form. Keep in mind that the Illinois Lease Termination Notice is not the same as the Illinois Eviction Notice, which can can only be issued by the court in an unlawful detainer lawsuit.

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