License For Lease In Chicago
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Be a minimum of 18 years old. Passed a 4-year high school course or equivalent course that has been approved by the Illinois State Board of Education. Complete 15 hours of leasing agent classes. Pass the Illinois leasing agent exam.
While Illinois does not have a state-wide rental license requirement, certain counties do. For example, Cook County requires landlords that own buildings (including iniums) with four or more units to have a rental license.
Be a minimum of 18 years old. Passed a 4-year high school course or equivalent course that has been approved by the Illinois State Board of Education. Complete 15 hours of leasing agent classes. Pass the Illinois leasing agent exam.
A Leasing Agent must have a Real Estate Broker or Managing Broker sponsor them as a licensee before engaging in any residential leasing activities. This 15- hour training course contains information on The License Act of 2000, Fair Housing/Owner Tenant Relationships, and Agency/Contracts.
Landlord's Rights and Responsibilities Must keep the rental unit fit to live in. Must make all necessary repairs. Must keep the rental unit in compliance with state and local health and housing codes. May set the amount of rent and security deposit.
Illinois is only considered somewhat of a landlord-friendly state. While factors like no rent control or security deposit limitations favor landlords, the state has restrictions that limit what they can do to lease their property. Plus, much of the time have more leverage in a lease agreement than the landlord does.
While Illinois does not have a state-wide rental license requirement, certain counties do.
A Chicago landlord's obligations fall into a few major categories: the landlord must maintain the premises; the landlord must stay out of the premises, except in certain circumstances; the landlord must safeguard and return the security deposit, the landlord may not engage in illegal housing discrimination; the ...
