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Illinois Standard Residential Lease Agreement (Outside of Chicago)

An Illinois standard residential lease agreement is a contract between a landlord and tenant that governs the rental of residential property. Generally this type of contract applies to a fixed term, usually one year.
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Updated June 28, 2024

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Rental Application – A landlord screens tenants through a rental application.

Required Disclosures (5)

1. Carbon Monoxide Detectors – Tenants must be notified of where a carbon monoxide detector is located.[1]

2. Concession Granted – Lease agreements must mention any concession for rent.[2]

3. Lead-Based Paint Disclosure & EPA Pamphlet – If the property was built before 1978, the landlord must notify the tenant.[3]

4. Radon Disclosure Form – Landlords must disclose the presence of radon.[4]

5. Shared Meter – If utility bills are shared, such as in a condominium complex, the landlord must disclose how the total is divvied up among payers.[5]

Security Deposit Laws

Maximum Amount – None.

Returning – A security deposit must be returned within 30 days of a lease’s end date.[6]

Rent Payment Laws

Grace Period – Five days.[7]

Maximum Late Fee – $20 or 20% of the rent amount, whichever is greater.[8]

NSF Fee – $25.[9]

Sources

  1. Public Act 094-0741, Section 10
  2. 765 ILCS 730/3
  3. 42 U.S. Code § 4852d
  4. 420 ILCS 46/26
  5. 425 ILCS 60/3(d)
  6. 765 ILCS 710/1(a)
  7. 770 ILCS 95/7.10(a)
  8. 770 ILCS 95/7.10(b)
  9. 810 ILCS 5/3-806