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City of Chicago Lease Agreement

If you are planning to rent an apartment or a property in the city of Chicago, it is important to understand the lease agreement. This document outlines the terms and conditions of the rental agreement and serves as a legal contract between you and the landlord.

In Chicago, the lease agreement is governed by the Residential Landlord and Tenant Ordinance (RLTO). This law provides additional protections to tenants and sets guidelines for landlords. Therefore, it is important to review the RLTO before signing a lease agreement.

The lease agreement should include the following information:

1. Names of the landlord and tenant(s): This ensures that both parties are identified in the agreement.

2. Property description: This includes the address of the rental property and a description of the unit being rented.

3. Rent amount and due date: This specifies the amount of rent due each month and the date by which it must be paid.

4. Security deposit: This outlines the amount of the security deposit and the conditions under which it can be withheld.

5. Lease term: This specifies the length of the lease agreement, whether it is a fixed term or month-to-month.

6. Maintenance responsibilities: This outlines the responsibilities of the landlord and tenant for maintaining the property.

7. Late fees: This specifies the amount of the late fee and the conditions under which it can be charged.

8. Renewal terms: This outlines the conditions for renewing the lease agreement.

It is important to carefully review the lease agreement before signing it. Ensure that all terms and conditions are clear and reasonable. If you have any questions or concerns, do not hesitate to ask the landlord for clarification.

Additionally, make sure to keep a copy of the lease agreement for your records. This will serve as a reference in case of any disputes or legal issues that may arise during your tenancy.

In conclusion, understanding the lease agreement is a crucial part of renting a property in the city of Chicago. By reviewing the RLTO and carefully reviewing the lease agreement, you can ensure that your rights are protected and that your tenancy runs smoothly.