Verbal agreement & evictions

[Martin Madelaire]

Hello BP.

delicate situation as we bought a multifamily unit. We live in 1 unit and will rent the others.

The issue at hand is that one tenant has/had a verbal contract with the previous landlord (they are family). 

Is it correct that with verbal contracts that a 30 day notice is sufficient?

We intend to give them the option of moving out or new contract (increased rent to match the market). I just want to make sure that we provide the tenants with adequate notice..

PS. We are located in Chicago, Illinois - if that makes a difference..

[Matthew Kwan]

Verbal/oral agreements are not binding in real estate. However, verbal agreements can be legally binding in court if there is enough evidence to prove the agreement's existence and terms. 

Each state and county has different regulation on x days notice needed, in order to be compliable and valid in court. I bet you can find your answers in the city of Chicago tenant's law and regulations

@Carlos Valencia @Albert Bui