Differences Between LeaseRunner’s Chicago and Illinois Leases
LeaseRunner provides a lease forms for properties in the state of Illinois, and LeaseRunner provides a separate lease form for properties in the City of Chicago. Chicago has its own extensive landlord and tenant law, codified by the Chicago Municipal Code Ch. 5-12, Residential Landlords And Tenants, (the "Ordinance").
Available Chicago Documents
LeaseRunner provides the following documents for properties in the City of Chicago. Lease provisions are discussed below, but you can learn more about the other documents here.
- Chicago Residential Lease
- Chicago Residential Landlord and Tenant Ordinance Summary
- Chicago Bed Bug Information
- Chicago Security Deposit Disclosure
- Chicago Utility Cost Disclosure
Chicago Lease Provisions
The Ordinance contains many provisions on top of any state laws. Some of the key provisions are the following:
- Late Fee Limit. Late fees are limited to $10 for the first $500 in monthly rent, plus five percent for any rent in excess of $500.
- Security Deposits. A separate interest-bearing bank account is required to hold any security deposit, and interest rates are posted by the City of Chicago. Also, the landlord must provide a receipt at the time of receiving such security deposit. Finally, the landlord must return the security deposit or provide an accounting of deductions within 45 days.
- Compliance With Municipal Code. The landlord must comply with all of the provisions of the Ordinance.
- Tenant Remedies. The Ordinance provides for some specific tenant remedies, including repair and deduct remedies for minor defects not more than $500 and relief options if the landlord fails to provide essential services, posing an immediate danger to health and safety. If the premises is damaged or destroyed by fire or casualty, the tenant can choose from relief options, including canceling the lease.
- Landlord Remedies. The Ordinance provides landlord remedies if the tenant commits certain defaults, including failure to pay rent, failure to maintain, abandonment, and more.
Finally, it is important to note that a summary of the Ordinance must be included with every Chicago lease.