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coreyp314
real estate investor
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lease question
Monday, January 22 2007 08:48 AM
Ive got a question about a lease. If someone signed a month to month lease with a requirement that 60 days notice be given before moving out and this lease was signed over two years ago is the lease still valid? Also the rent has been raised and this was never changed in the lease, would that also have any affect on the lease?
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Marty Couch
Investor
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Re:lease question
Monday, January 22 2007 09:23 AM
Hi there,
Below is a link to a report from Lisa Madigan's office that talks about Month - To - Month leases:
http://www.ag.state.il.us/consumers//landlordtenantrights0404.pdf
It does state that the landlord can raise the rent with 30 days written notice. It also says YOU have to give the TENANT 60 days notice if YOU are terminating the lease. I didn't see anything that states if the TENANT has to gove notice.
I would imagine that of the month-to-month lease spells out that there is to be 60 days notice. If you have pre-paid legal it would be best to fax them the lease and let them review it and advise.
Hope this helps.
Marty Couch
http://www.PPLChicago.com
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coreyp314
real estate investor
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Re:Re:lease question
Monday, January 22 2007 09:52 AM
this helps greatly, thanks
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KaosProperties
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Re:Re:Re:lease question
Monday, January 22 2007 02:13 PM
Month to Month agreement does NOT require 60 days notice. It only requires 30 days written notice. This Month to Month Agreement is NOT a lease. A lease means beyond 30 days such as 3 months, 6 months or more typically, 1 year.
It really depends on what you have on the lease.
If you have a clause in the lease that will automatically turns into month to month at the end of the lease, you will only need to give 30 days written notice.
However, if you have a lease that does not turn to month to month, you can give 60 days notice prior to expiration that there is no intention of renewing the lease.
If you are located in Chicago area, it may differ due to city rules.
In case you're wondering where I'm located due to potential city rules, I'm located in Springfield, Illinois
Debbie
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daveg
Investor/Rehabber
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M to M as it applies in City of Chicago
Tuesday, February 13 2007 06:31 AM
Debbie, I have two rentals in Chicago and do live (and die) by the Chicago Landlord Tenant Ordinance. I have the summary of the LTO but can you shed any more light on the month to month agreement? I use them often after leases expire, I just want to make sure I'm not missing anything that could get me into trouble...email me at: dgalati000@sbcglobal.net...
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