IL Leasing Agent cheat sheet

Leasing agent licenses are issued by IDFPR under the Illinois Real Estate License Act (225 ILCS 454) and are valid only while a licensed sponsoring broker supervises the agent.

Minimum qualifications: at least 18 years old, 15 hours of approved pre-license education, fingerprint-based criminal background check, and a passing score on the state leasing agent exam.

Scope of practice is limited to leasing residential real estate: marketing units, showing property, distributing and processing applications, and executing leases for the sponsoring broker.

Selling, listing property for sale, and independent property management require a broker license and are outside a leasing agent's authority.

All compensation earned by a leasing agent is paid to the sponsoring broker first; the agent may not accept a fee directly from a landlord, tenant, or vendor.

Licenses run on a two-year renewal cycle and require completion of approved continuing education before renewal.

Unlicensed leasing activity is an ILRELA violation subject to IDFPR discipline and civil penalties of up to $25,000 per offense.

A leasing agent cannot operate as an independent business, maintain a separate real estate office, or sponsor other licensees.

Every advertisement, sign, and business card used by a leasing agent must display the sponsoring broker's registered business name.

Illinois requires a written agency disclosure to the consumer before the consumer signs a brokerage agreement or representation contract.

Default rule: a leasing agent showing a landlord's unit represents the landlord; the tenant becomes a client only after signing a tenant brokerage agreement.

A written brokerage agreement must state its term, the compensation owed, the duties assumed, and whether the relationship is exclusive.

Dual agency exists when one broker represents both landlord and tenant in the same transaction; it requires written informed consent from both parties and limits the broker to facilitation without advocacy.

Designated agency assigns different licensees within the same brokerage to the landlord and the tenant; written consent of the parties is required.

Core duties to a client: loyalty, confidentiality, disclosure of material facts, accounting for funds, and obedience to lawful instructions.

Known material facts, such as latent defects, safety hazards, or pending code violations, must be disclosed even when the agent represents the other side.

The confidentiality duty survives the termination of the brokerage relationship.

Compensation is fully negotiable and may never be set by agreement among competing brokers (antitrust prohibition).

Federal Fair Housing Act protected classes: race, color, religion, sex (including sexual orientation and gender identity), national origin, familial status, and disability.

Illinois Human Rights Act adds ancestry, age, marital status, order of protection status, military status, sexual orientation, pregnancy, and unfavorable discharge from military service.

Some Illinois municipalities, including Chicago, add local protections such as source of income; the stricter local rule controls.

Prohibited conduct reaches advertising, showing, screening criteria, lease terms, rental amounts, steering, and statements about a neighborhood's residents.

An assistance animal is not a pet: no pet fee or pet deposit may be charged, though the landlord may request reliable documentation of the disability-related need.

Reasonable accommodations include reserved parking, unit transfers, modified application procedures, and waivers of a no-pet policy.

Familial status protects households with children under 18 and pregnant applicants; flat 'adults only' policies and unreasonable occupancy limits are unlawful.

The Mrs. Murphy exemption for owner-occupied buildings of four or fewer units does not permit discriminatory advertising and does not protect licensees.

Filing deadlines: an administrative complaint with HUD within one year of the discriminatory act, or a federal lawsuit within two years.

Illinois leases with a term longer than one year must be in writing to satisfy the Statute of Frauds.

Nonpayment of rent remedy: serve a written five-day notice to pay or quit, then file a forcible entry and detainer action in court.

Non-rent lease violation: a written ten-day notice to cure is required before termination and eviction.

Month-to-month tenancies terminate on 30 days' written notice; week-to-week tenancies terminate on 7 days' written notice.

Self-help eviction, including changing locks, removing belongings, or shutting off utilities, is unlawful; possession may be recovered only through the court.

The implied warranty of habitability requires the unit to be safe, sanitary, and code-compliant; a material uncured breach can support rent withholding or lease termination.

The Illinois Retaliatory Eviction Act bars terminating a tenancy or raising rent because the tenant complained about conditions or asserted legal rights.

Illinois has no statewide entry-notice statute; the lease and local ordinances control (Chicago requires two days' notice for non-emergency entry).

Required disclosures before signing: radon hazard (Illinois Radon Awareness Act) and lead-based paint in pre-1978 housing.

Illinois Security Deposit Return Act: for buildings with five or more units, the deposit must be returned with an itemized statement of damages within 30 days after the tenant vacates.

If no itemized statement is delivered within the deadline, the landlord forfeits the right to withhold any portion of the deposit.

Security Deposit Interest Act: in buildings with 25 or more units, deposits go into a separate interest-bearing account and interest is paid if the deposit is held six months or longer.

Brokers must hold tenant and client funds in a designated escrow account; mixing them with business or personal money is prohibited commingling.

Cash rent, deposit, or application payments require a written receipt identifying the amount, date, payer, and purpose.

Nonrefundable fees such as application or pet fees must be identified in the lease and are never treated as part of the refundable security deposit.

Deposit accounting: amount returned = deposit + accrued interest − itemized damages that are documented and lawful.

Late fees must be stated in the lease and reasonable; there is no statewide statutory cap, but local ordinances may limit them.

A security deposit may be applied to the last month's rent only if the lease expressly authorizes it.

Every rental advertisement must show the sponsoring broker's registered business name; an ad without it is an unlawful blind advertisement.

Advertising or marketing a unit requires written authorization from the owner or the owner's broker.

Advertised rent, deposits, fees, and concessions must match the actual offer; bait-and-switch listings violate the Consumer Fraud Act.

Fair housing advertising rule: describe the property, never the preferred tenant; no references to race, religion, children, disability, or national origin.

Photographs, square footage, and unit descriptions must correspond to the specific unit being offered.

Online listings and social media posts follow the same rules as print media and must identify the responsible broker.

Telemarketing must comply with Do Not Call requirements; commercial email must include an opt-out under CAN-SPAM.

Rent concessions, prizes, and giveaways require landlord approval and clear written disclosure of the conditions.

Prorated rent = monthly rent ÷ number of days in the month × days of occupancy.

Annual rent = monthly rent × 12; effective monthly rent = (total rent paid over the term − concessions) ÷ number of months.

Rent-to-income ratio = monthly rent ÷ monthly gross income; a common screening threshold is 30%, or income equal to three times the rent.

Rent per square foot = monthly rent ÷ rentable square footage; used to compare units of different sizes.

Percentage rent increase = (new rent − old rent) ÷ old rent × 100.

Leasing commission = agreed percentage × annual (or first-year) rent; the leasing agent's split is then applied to that commission.

Move-in cash required = first month's rent + security deposit + any prepaid last month's rent + nonrefundable fees.

Annual proration (utilities, fees) = annual amount ÷ 365 × number of days used.

Refundable deposit balance = deposit + accrued interest − documented, itemized deductions.

The Illinois Consumer Fraud and Deceptive Business Practices Act prohibits misrepresentations about rent, unit condition, fees, and availability.

Leasing agents may complete approved form leases but may not draft custom clauses or advise on legal rights; refer those questions to an attorney.

Any compensation received from a landlord, tenant, or vendor must be disclosed in writing to the client; undisclosed referral fees are an ethics violation.

Antitrust law forbids brokers from agreeing with competitors on rents, fees, or commission splits.

Confidential client information, including credit data, income, and motivation, may not be disclosed without authorization.

Apply identical, documented screening criteria to every applicant and record the lawful reason for any denial.

Retaliation against a tenant who files a complaint or asserts a legal right is prohibited and independently actionable.

Transaction records and advertisements must be retained and produced on request during an IDFPR investigation.