New 2024 Residential Lease & Security Deposit Interest Rates Now Available

The 2024 Chicago Residential Lease is now available on our Forms & Contracts webpage. The City released its 2024 Bilingual Security Deposit Interest Rate Flyer on January 8th this year, which delayed the release of the Chicago Residential Lease.

There were no new laws that went into effect in 2024 that would impact the lease however revisions were made to include the 2024 Bilingual Security Deposit Interest Rate Flyer, language adjustments to create consistency between certain phrases/lines, remove duplicate text and to tighten up language where there may have been some ambiguity. Additionally, the included pamphlets have been rotated to landscape to aid in electronic reading and e-signing.

The Chicago Residential Lease is an excellent member benefit for all Chicago REALTORS® and their landlords.  This lease is vetted each year by practitioners and attorneys to ensure compliance with Chicago ordinance.  It is well recognized by judges and attorneys across the city, and we highly recommend use without alteration. Members should cease using any earlier version of the Chicago Residential Lease. Ensure you are using the new lease, which is fillable, available here.

The 2024 Exclusive Rental Listing Agreement is also available to download on our Forms & Contracts page. This Agreement is updated to include the 2024 Security Deposit Interest Rate Sheet.

Review the new state and City of Chicago security deposit interest rates here.

Please note the 2023 lease document was designed to expire at midnight on Dec. 31. This was meant to protect members from using old leases, which could cause liability to themselves and/or their clients.

A reminder, the Chicago Residential Lease, and all of our forms and contracts are an exclusive member benefit for use only by Chicago Association of REALTORS® members or those who are party to a transaction facilitated by a Chicago Association of REALTORS® member. Distributing or posting any of CAR’s forms and contracts is a copyright infringement and a violation of the terms of use of our forms.