Lynch Law Offices, P.C.
Call Us Now for a FREE Consultation:
800-491-7493
Offices in Four Convenient Locations

Illinois residential real estate transactions: Leases

Numerous Illinois residents have been able to generate good cash flow by leasing out their residential properties. For those who are relatively new to the whole landlord position, though, they may find that it is not always easy to get the most out of a property lease. When making residential real estate transactions such as this, what is included in the lease agreement can mean all the difference between making a profit and taking a loss.

As many Illinois residents are struggling financially, the dream of home ownership is really out of reach. They depend on the rental market in order to find suitable living quarters. This is good news for landlords, as finding renters really should not be an issue.

Once one's ideal renter is found, having him or her sign a lease agreement is a must. This is not a step that can be overlooked. A lease agreement covers quite a bit of information, including:

  • Property possession
  • Property use
  • Lease terms and options
  • Deposit information
  • Property improvements

The terms of a lease and how the lease document is worded are both extremely important. Any small error could have significant consequences for the property owner. This is where an attorney can help. By having legal counsel draft one's lease agreements, one can be sure that it will serve his or her best interests in the long run.

The landlord game is a tough business. It is not for everybody. Property owners in Illinois who think it is for them can seek assistance before completing any residential real estate transactions in order to the the most out of their lease agreements.

Source: thebalance.com, "Real Estate Lease Agreements Explained", James Kimmons, Accessed on June 28, 2017

No Comments

Leave a comment
Comment Information

How Can we Help You? Contact An Attorney

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Four Convenient Office Locations To Serve You

Toll Free: 800-491-7493 Fax: 888-691-8337

Five Convenient Office Locations To Serve You

Lisle Office - DuPage County
1011 Warrenville Road
Suite 150
Lisle, IL 60532

Map & Directions

Lockport Office - Will County
900 South State Street
Second Floor, Suite A
Lockport, IL 60441

Map & Directions

Aurora Office - Kane County
1444 North Farnsworth
Suite 100
Aurora, IL 60505

Map & Directions

Palatine Office - Cook County
800 East Northwest Highway
Suite 700
Palatine, IL 60074

Map & Directions

Chicago Office - Cook County
1 S Dearborn
Suite 2100
Chicago, IL 60603

Map & Directions

Toll Free: 800-491-7493 Fax: 630-960-4755