Residential Leases
Chapter 6 from Square Feet Chicago: An Artist's Guide to Buying and Renting Space
In this chapter we will primarily focus on the ins and outs of residential leases. A lease is a legally binding contract between a landlord and/or property owner and a tenant for a specific period of time. The lease defines the rights and responsibilities of both parties and includes information such as the monthly rent, restrictions on use of space, etc.
In Chicago the Residential Landlord and Tenant Ordinance is the primary law that dictates the relationships between residential landlords and tenants. The information in this chapter is not meant to be a substitute for legal advice, but to be used as a foundation of fundamental points to think about before signing a lease.
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