Illinois lease agreements allow a landlord and tenant to enter into a legally binding rental arrangement. Having a written contract ensures that the rights of both the landlord and the tenant are able to negotiate fair rental terms. The landlord will usually request to see the potential tenant’s credit and employment/housing references to verify that the tenant is eligible financially. Tenant screening is commonly conducted through a rental application.
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An Illinois residential lease agreement allows a tenant to rent property from a landlord in exchange for monthly rent and other consideration. The lease details also include utilities, length of tenancy, security deposit, and other fees and responsibilities. The terms should be negotiated between the parties verbally before an agreement is signed. The landlord is recommended to also check the prospective tenant’s background, before writing…