Illinois Simple 1-Page Rental Lease Agreement

A written Illinois residential lease agreement legal form provides safeguards for the Property Owners, Landlords and Tenants. Free basic fill-in-the-blanks agreement documents available in Google Documents, Word Processing, PDF formats and more. Download by clicking on the buttons below. Learn more on what to include in the agreement form by reading the information provided below.

Last updated September 16th, 2024

A written Illinois residential lease agreement legal form provides safeguards for the Property Owners, Landlords and Tenants. Free basic fill-in-the-blanks agreement documents available in Google Documents, Word Processing, PDF formats and more. Download by clicking on the buttons below. Learn more on what to include in the agreement form by reading the information provided below.

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An Illinois Lease Agreement is a legal document that outlines the terms and conditions between a landlord and tenant for residential or commercial property use.

Rental application – This form is used by Landlords when valuating potential Tenants by doing a thorough assessment of an applicant’s financial capabilities, employment history, background, and previous landlord interactions.

Most Recent US Home Facts

  • Population (2023): 334,914,895
  • Median Households (2022): 125,736,353
  • Median Household Income (2022): $75,149
  • Owner-occupied Households (2022): 64.8%

Source: U.S. Census Bureau

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Standard Residential Lease Agreement

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Simple (1-Page) Lease Agreement

 

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Lease Agreement Form Must Include the Following

Disclosures (Required)

Carbon Monoxide Detectors – Landlords are required by law to furnish carbon monoxide detectors within 15 feet of the tenant’s sleeping quarters. Additionally, lease agreements must include information regarding the detectors.
Concession Granted – Any agreement between a landlord and tenant regarding a rent concession must be explicitly stated in the lease agreement. In the event that a concession is granted, it must be clearly indicated on the document with the header “Concession Granted”, which should be no less than half an inch in height. Failure on the part of the landlord to include this information can result in a misdemeanor charge under Illinois state law.
Lead-Based Paint Disclosure Form – In instances where a building was constructed before the year 1978, it is imperative that both landlords and tenants fulfill the requirement of completing and signing a Lead-Based Paint Disclosure.
Radon Disclosure – The Radon Disclosure law states that Landlords are not mandated to conduct radon tests. However, in the event that they choose to do so and the results indicate the presence of radon on the premises, the tenant must be notified accordingly. It is important to note that this requirement does not apply to residences located on the third (3rd) floor or higher within a residential complex. Furthermore, it is incumbent upon the landlord to provide the tenant with the Radon Disclosure Pamphlet, which has been duly approved by the IEMA.
Smoke Detectors – The Landlord bears the responsibility of installing smoke detectors throughout their premises, while tenants are accountable for maintaining and ensuring the functionality of said detectors throughout the duration of their lease. To ensure that Tenants adhere to this obligation, landlords can make use of the Carbon Monoxide and Smoke Detector Agreement.
Shared Meter – In circumstances where a tenant bears the responsibility of covering a portion of a shared utility expense, the landlord is obligated to furnish the formula utilized to determine the tenant’s corresponding share.

Security Deposits

Maximum – Landlords have no state maximum for the amount they can ask from tenants.
Return – It is the landlord’s responsibility to refund the security deposit to the tenant within thirty days of the lease’s termination. If any deductions are made from the deposit, the landlord must itemize and communicate them to the tenant(s) within thirty days, followed by releasing the remaining security deposit amount within fifteen days (a total of forty-five days).
Interest-Bearing Account – In the event that the Landlord possesses a rental portfolio exceeding twenty-five (25) units, they are obliged to place the security deposit in an account that accrues interest. The interest rate must not fall below the interest rate in the State of Illinois as of the previous December 31 of the most recent year.
Source: 765 ILCS 710

Landlord Access

Although no state law mandates that Landlords provide notice to their Tenants prior to entering a rental property for maintenance or any other issue, it is recommended for Landlords to provide reasonable notice to Tenants.

Paying Rent

Grace Period – Tenants are granted a grace period of five days. It is prohibited for the landlord to impose any late payment fees before the sixth day of late rent payment.

Maximum Late Fee – The maximum penalty for late rent payment is either $20 or 20% of the rent, whichever amount is greater.

Returned Checks (NSF) – $25 per bounced check.

Source: 770 ILCS 95/7.10, 810 ILCS 5/3-806

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