An Illinois commercial lease agreement defines the terms and conditions of a rental arrangement in which commercial property is leased to a tenant. Commercial tenants are often assigned to a significantly longer term than residential tenancies, with most commercial leases lasting three to five years, sometimes with the option to renew.
Illinois Commercial Lease Agreement
An Illinois commercial lease agreement defines the terms and conditions of a rental arrangement in which commercial property is leased to a tenant. Commercial tenants are often assigned to a significantly longer term than residential tenancies, with most commercial leases lasting three to five years, sometimes with the option to renew.
An Illinois commercial lease agreement defines the terms and conditions of a rental arrangement in which commercial property is leased to a tenant. Commercial tenants are often assigned to a significantly longer term than residential tenancies, with most commercial leases lasting three to five years, sometimes with the option to renew.
Rent Concession Act – If a landlord grants their tenant a rebate or reduction in rent, it must be indicated in the lease agreement.[1]
Utility Payments – A landlord cannot require tenants to pay for master-metered public utility services unless they disclose the formula used to allocate the charges.[2]