What You Need to Know About Illinois Lease Agreements
Security Deposit Rules
In Illinois, the security deposit limit is no statutory limit (chicago: 1.5 months). After the tenant moves out, landlords must return the deposit (minus any lawful deductions) within 30 days. Deductions are typically limited to unpaid rent, damages beyond normal wear and tear, and cleaning costs if the unit was left in a condition worse than when the tenant moved in.
Notice Requirements
Illinois requires 5 days notice for non-payment of rent before a landlord can begin eviction proceedings. For month-to-month tenancies, 30 days written notice is required to terminate. Landlords must provide at least 24 hours notice before entering the rental unit, except in emergencies.
Late Fees
No statutory limit (Chicago: $10/month flat). Illinois requires a 5-day grace period before late fees can be assessed.