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Updated about 2 months ago on . Most recent reply

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Chris Ganz
  • Investor
  • Chicago IL
6
Votes |
20
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Lease cancellation notice time period

Chris Ganz
  • Investor
  • Chicago IL
Posted

Good afternoon,

I wanted to reach out to see if anyone could provide some clarity on lease cancellation and the notice period. For context I have a tenant who has been in the property for close to 10 years. I purchased the property roughly 5 years ago. This past year they have started paying rent late to the point where the total accumulated time is about 3 months of back rent due. I also switched their lease from a yearly to a monthly. I am planning to cancel this lease due to the late payments etc, my question is since they are on a month-to-month can I just provide the standard 30 day notice or since they have been at the property for many years or is a longer notice period required such as 120 days etc? I am based in IL just outside of Chicago. Any input would be appreciated.

Most Popular Reply

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6,168
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5,133
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,133
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6,168
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied
Quote from @Chris Ganz:

@Charles Carillo after the initial lease which was a yearly one was up, I switched it over to a month-to-month. I was trying to avoid the eviction process just because I know it can be rather lengthy in IL, I figured with the month-to-month I can just cancel it hopefully without any issues.


 If you are in Chicago or Cook county you need 120 days notice

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