The Buy Sell Love Chicago Team
312-600-7510
The Buy Sell Love Chicago Team
312-600-7510
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Step 11 to Buying a Home: Give Notice To Your Landlord

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If you’re currently renting, you need to give notice to your landlord that you’re going to be moving out.  By IL law, if you have a month to month lease then you only need to give 30 days notice.  If you have a yearly lease, you need to give 60 days notice before your lease term ends if you’re planning to move out.  For instance, if your lease ends October 1, you need to let the landlord know by August 1 if you are going to be renewing your lease or are moving.

What if you have a yearly lease, but it doesn’t end for quite a few months? Then you’ve got a few options:

  1. We can try to push closing back to the end of your lease date. If that is of interest to you, please let us know.
  2. We can find a subleaser for the remainder of your lease term.  In Chicago, you have the legal right to find a subleaser for your apartment.  If you want us to help you find a subleaser, just let us know. Generally it involves having photographs taken, putting the property on CraigsList and Domu.com then finding a qualified tenant.  Just keep in mind it’s usually easier to find a tenant from April to August then it is from September to March.
  3. You can choose to keep both places for the remainder of your lease so you have plenty of time to leisurely move from your rental apartment to your new home.  This does mean paying the monthly rental payment plus your mortgage payment for the remainder of your lease.

 

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