Illinois Rent Increase Notice For Tenants
Description
How to fill out Illinois Letter From Landlord To Tenant About Intent To Increase Rent And Effective Date Of Rental Increase?
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FAQ
The state law allows tenants to seek habitable housing, meaning that the property should be presented in good condition by the landlord. In case the property suffers from damages that exceed normal wear and tear, the landlord must provide repairs within a reasonable time frame.
No late payment fee shall be assessed unless the rental fee remains unpaid for at least 5 days after the date specified in the rental agreement for payment of the rental fee.
Rent Increases In a week-to-week or month-to-month tenancy, the landlord can raise your rent by any amount if he/she gives you seven days' notice for a week-to-week lease or 30 days' notice for a month-to-month lease. Your landlord cannot raise your rent if you have a fixed-term lease.
30 days of notice are required if the lease term is less than six months. 60 days of notice are required if the lease term is between six months and three years. 120 days of notice are required if the term is beyond the three-year mark.
Illinois General Assembly - Bill Status for HB3874. Creates the Rent Control Act. Provides that no more than once every 12 months, upon a 90-day written notice, a landlord may increase the rent for a dwelling unit in which a tenant resides by a rate no greater than 15%.