In a residential lease, both landlords and tenants assume substantial liabilities and risks. A landlord wants to ensure that the investment is protected, the lease terms are binding, and any potential exposures are limited. A tenant wants to know what expenses and obligations are involved with the lease, the landlord’s responsibility to perform specific duties, and the protection they are afforded.
At Kasan Law, our attorneys represent residential landlords and tenants throughout Chicago and Illinois. We offer various legal services for both landlords and tenants, including lease and agreement drafting, review, negotiations, compliance, and enforcement. Contact our landlord and tenant attorneys to schedule your free consultation.
Landlord and tenant laws regulate the relationship between the owner of real property (Landlord) and those to whom they give certain rights of use and possession (Tenant). Landlord and tenant laws differ in their application based on various factors, such as the type of tenant, property location, lease length, and type of real estate involved. Additionally, based on the city or municipality, the ordinances affecting landlords and tenants can offer more or less protection and have various nuances.
For example, the landlord and tenant relationship may involve:
Landlord and tenant residential leases overlap with other areas of law, including state law, municipal ordinances, and contract law. The residential lease agreement is the contract that commonly governs the landlord and tenant relationship. The lease agreement generally allows one party to occupy the real estate of another with the owner’s consent.
In Illinois, residential lease agreements can vary based on the specific circumstance surrounding the rental. A residential lease agreement commonly contains the following terms:
In Illinois, residential leases can be either written or oral. Residential leases covering a period greater than one year are required to be in writing by the statue of fraud. Additionally, specific ordinances might control the residential lease and set forth additional requirements.
It is in the landlord and tenant’s best interest to have the residential lease in writing, no matter how long the rental term. In the event of a dispute, the written residential lease can provide the terms that govern the landlord and tenant relationship. Without a written lease agreement, it can be challenging to prove the agreed-upon terms and increase litigation costs.
Under Illinois law, before renting or renewing a lease, residential landlords are required to provide specific disclosures. Whether in a separate written agreement or the lease, residential landlords are required to disclose certain information to tenants such as:
If an oral or written residential lease fails to provide a specific rental period, courts will generally imply renewable lease terms based on the periods which rent was paid, such as:
Residential leases covering a period greater than one year are required by the statue of fraud to be in writing.
Security deposits are designed to compensate the landlord for actual property damage or the nonpayment of rent. The amount of the security deposit can depend on the landlord, but it is typically the same as one month of rent. Under certain circumstances, the landlord is required to maintain the security deposit in a separate bank account and pay interest.
In Illinois, a landlord allowed to withhold a security deposit for two specific reasons:
If there is no reason to withhold the security deposit, the landlord must return the security deposit to the tenant within 45 days of moving out.
If the full security deposit is not returned, the landlord is required to provide the tenant with a written itemized list within 30 days of the move-out, stating how the security deposit was used to cover costs. In addition to the itemized list, the landlord must provide the tenant with paid receipts showing the cost of repairs.
If the landlord fails to return the payment within the allotted time frame, the tenant is legally owed twice the amount, plus the cost of legal fees. Additionally, the tenant has the right to dispute the charges incurred.
At Kasan Law, we represent both landlords and tenants in residential real estate transactions. Our residential real estate lawyers are available to negotiate, draft, and review your lease agreement to ensure your rights are sufficiently protected. Our consultations are free and carry no obligations.
Whether your legal needs involve residential or commercial property, contact Kasan Law’s real estate attorneys to schedule your free consultation by calling (312) 300-6724, e-mailing us at [email protected] to request a review of your case, or schedule your consultation online.