Chicago residential lease is the lease document prepared for the residents and the property management companies in Chicago. The lease must follow the federal law laid by the Chicago government and the local government authorities. It is applicable for Chicago residential landlords and tenants ordinance. The lessor or owner and the tenants or lessee must carefully review the entire lease and an attorney can be consulted prior to going ahead with residential lease. These lease documents contain the details of the parties and terms and conditions agreed between them.
Sample Chicago Residential Lease:
This Chicago residential lease is the rental agreement between the following lessor and lessee:
- Lessor: Deborah Eldridge
- Lessee: George Richard
As per the lease, the lessor agrees to lease out his property located at B-78, Lakeview road, Chicago to the lessee for residential purpose.
Duration of Lease: 1 year
Date of commencement of the lease: 23-9.2011
- The owner has agreed to rent his 2 bedroom, kitchen apartment to the lessee for the rent of $3000 per month. The security deposit is $5000 for the apartment.
- The apartment has to be maintained in the same condition as given to the lessee in the beginning.
- The lessee has to pay all the utility bills along with its tax.
- The lessee has to use the apartment for the residential purpose and for no other commercial or illegal purposes.
- The violation in the laws mention in the lease will result in the legal penalty.
Signature of the Lessor:
Signature of the Lessee: