Illinois Standard Residential Lease Agreement

Illinois Standard Residential Lease Agreement

The Illinois Standard Residential Lease Agreement is a contract that adds structure to a renting situation in which one (1) or more tenant(s) live in a property owned or managed by a landlord in exchange for regular payments. The level of detail that can be included in the lease is up to the landlord, although every agreement should contain (at a minimum) information on rent amount, utilities, security deposits, guests, term length, and the party’s signatures.

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State Laws

Laws: § 765 ILCS 705/5 “Landlord and Tenant Act”

Maximum Security Deposit: Illinois law contains no restrictions on what landlords can require for security deposits.

Returning Security Deposits: (§ 765 ILCS 710/1(a)) The landlord has forty-five (45) days to refund a full security deposit after the tenant has moved out. A landlord claiming deductions for property damage must provide the tenant with a list of damages and deductions, and any remaining funds within thirty (30) days after the tenant vacates the premises.

Criminal Activity and Indictment: (§ 765-ILCS 7/5(a) and (b)) A landlord may evict a tenant who has been charged and indicted on a Class X felony offense committed on the property as long as proper notice is provided. However, the tenant does not automatically lose a security deposit based solely on any such eviction.