Chicago Rental Agreements: What You Need to Know
If you`re planning on renting a property in Chicago, it`s important to understand the ins and outs of rental agreements. A rental agreement (also known as a lease) is a legally binding contract between a landlord and tenant that outlines the terms and conditions of the rental arrangement. In this article, we`ll cover key things you need to know about Chicago rental agreements.
1. Types of Rental Agreements
There are two main types of rental agreements in Chicago: a lease and a month-to-month rental agreement. A lease is a fixed-term agreement typically lasting one year. A month-to-month rental agreement, as the name suggests, renews every month unless either the landlord or tenant gives notice to end the rental agreement.
2. Required Disclosures
Under Chicago law, landlords are required to disclose certain information to tenants before they move in. Some of the required disclosures include the names and addresses of the property owners, the name and contact information of the person designated to receive notices, and any outstanding code violations or building court cases.
3. Security Deposit
Landlords in Chicago are allowed to charge a security deposit equal to one month`s rent. The security deposit is meant to cover any damages caused by the tenant during their lease. Upon move-out, the landlord is required to provide a written itemized list of any deductions from the security deposit.
4. Rent Increases
If you have signed a lease, your rent cannot be increased during the lease term unless the lease specifically allows for it. If you`re on a month-to-month rental agreement, your landlord can increase your rent with 30 days` notice.
5. Eviction
In Chicago, landlords are required to give tenants written notice of their intent to evict, along with a reason for the eviction. Once the notice has been given, a court hearing will be scheduled. During the hearing, the tenant can present their case and request additional time to move out.
6. Pets
If you have a pet, it`s important to know your landlord`s pet policy before signing a rental agreement. Landlords in Chicago are allowed to prohibit pets or require an additional pet deposit or monthly fee.
In conclusion, understanding the basics of Chicago rental agreements can help you avoid any legal issues down the line. Be sure to read your lease carefully, ask questions, and know your rights as a tenant. With these tips in mind, you can make the most out of your renting experience in Chicago.
