Employee Lease Addendum For Rent Increase In Illinois
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
A lease extension addendum is a legal document used to extend a lease, typically between a landlord and tenant. It can modify certain lease conditions like rent, security deposit, and utilities, but the rest of the original lease terms remain unchanged.
One tactic is to contact your landlord a few months before the lease expires, even before you get the official notice of an increase. Ask if the rent will be going up and start the negotiation early.
There is no rent control in Illinois and no Illinois rent increase laws. However, cities like Chicago require at least 30 days' notice when a rental agreement is in place. A proposed bill would limit the amount and frequency of landlord increases in rent.
When writing a rent increase letter, be sure to include: Tenant's name. Property address. Landlord's name and contact info. Date the letter was written. Date the rent increase will take effect. Rent increase amount. Current rental amount. Date the new rent will be due.
Landlords can only raise the rent every 12 months and must give 90 days of notice. The increase can't be more than 15% of the current rent. If the unit is vacant and the landlord puts the rental property back on the market, they still must adhere to the same rules.
How to Amend a Lease (3 steps) Speak with the Other Party. Whether you are the landlord or the tenant, the party seeking to change the lease will need to properly communicate their intentions with the other party. Write the Amendment. Get Signed.
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.
Illinois currently doesn't have any rent control laws. This means Illinois landlords can increase rent by any amount they see fit as long as they provide advance notice. For a week-to-week tenancy, the amount of notice is seven days, and for a month-to-month lease, they must give you a 30-day notice.
Under AB 1482, landlords can raise rent by a maximum of 5% plus the local CPI or 10%, whichever is lower.
Yes, you can negotiate. If you ask for a lower rent increase the worst they can say is no. Some complexes have set rates for each unit size/style and will only give you the option to accept the new rate or move out. But you will never know if you don't ask.
