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Gross Lease Gross leases are most common for commercial properties such as offices and retail space. The tenant pays a single, flat amount that includes rent, taxes, utilities, and insurance.

An oral lease on a month-to-month unit allows you to move out with just a one month's notice. An oral lease also allows the landlord to refuse to continue to rent to you with one month notice. Additionally, a landlord can increase the rent with a written letter giving you a full rental period's notice.

term lease, also called a longterm lease agreement, is generally 12 to 15 months long, or the specified amount of time determined by the landlord. Most landlords prefer this type of lease agreement, since it offers a stable income for a longer period compared to shortterm options.

Updated on June 23rd, 2023. An Illinois lease agreement is a contract that defines the relationship between an owner/landlord of real property and their tenant(s). The landlord may be managing a residential rental space or a commercial property available to rent by a business entity.

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term lease, also called a longterm lease agreement, is generally 12 to 15 months long, or the specified amount of time determined by the landlord. Most landlords prefer this type of lease agreement, since it offers a stable income for a longer period compared to shortterm options.