Lease cancellation notice time period

Lease cancellation notice time period

Investor · Chicago IL · Member since 2014 · 20 posts · 6 votes

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.

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Brie SchmidtBusiness Member
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Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
1y
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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  • Rental Property Investor · North Palm Beach, FL · Member since 2018 · 2k+ posts · 1k+ votes
    1y

    @Chris Ganz

    How did you switch their lease from yearly to monthly? Did they agree to this? I would offer them cash for keys, or contact your attorney and start the eviction process if they decline. Most tenants cannot catch up with rent that is 3 months behind. 

  • Investor · Chicago IL · Member since 2014 · 20 posts · 6 votes
    1y

    @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.

  • Brie SchmidtBusiness Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    1y
    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

  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    1y

    Yes it’d be 120 days. You could always offer cash for keys though. 

  • Investor · Chicago IL · Member since 2014 · 20 posts · 6 votes
    1y

    @Brie Schmidt, @Aaron Zimmerman thanks for your responses, I appreciate it. 

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