The Cook Illinois Lead Based Paint Disclosure for Rental Transaction is an important legal document that landlords or property owners in Cook County, Illinois must use when renting out properties built before 1978. This disclosure is specifically designed to inform tenants about the potential hazards of lead-based paints that may be present in these older properties. Lead-based paint was commonly used before 1978 and may pose health risks, especially to children and pregnant women. The purpose of this disclosure is to ensure that tenants are aware of the potential presence of lead-based paint and can take necessary precautions to limit its exposure. In order to comply with the Cook Illinois Lead Based Paint Disclosure for Rental Transaction, landlords or property owners are required to provide the following information: 1. Lead-Based Paint Addendum: This addendum serves as an attachment to the lease agreement and includes detailed information about the presence of lead-based paint in the rental property. It informs tenants about the known lead-based paint hazards and provides them with essential information on lead poisoning prevention. 2. Lead-Based Paint Inspection or Risk Assessment Reports: Landlords may need to provide tenants with copies of any available lead-based paint inspection or risk assessment reports that have been conducted on the property. These reports assess the condition and potential hazards of lead-based paint in the rental unit. 3. Lead Warning Statement: This statement is a standardized text that must be included in the lease agreement, rental application, or any tenant payment receipts. It warns tenants about the potential health risks associated with lead-based paint and emphasizes the importance of taking precautions, especially for families with young children. By providing this detailed Cook Illinois Lead Based Paint Disclosure for Rental Transaction, landlords can demonstrate compliance with state and federal regulations and prioritize the well-being of their tenants. It ensures that all tenants are fully informed about the potential risks associated with lead-based paint and are empowered to make informed decisions regarding their health and safety. To summarize, the Cook Illinois Lead Based Paint Disclosure for Rental Transaction is a legal document that landlords or property owners in Cook County, Illinois must use when renting out properties built before 1978. By providing detailed information, including lead-based paint addendum, inspection or risk assessment reports, and lead warning statements, landlords can ensure that tenants are aware of potential lead-based paint hazards and take necessary precautions. Compliance with these requirements is essential for maintaining a safe and healthy living environment for tenants.
Cook Illinois Lead Based Paint Disclosure for Rental Transaction
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Federal law requires a property owner or seller to inform new tenants and/or buyers of known lead-based paint and lead-based paint hazards before most sales or leases. Most private housing, public housing, federally-owned housing, and housing receiving federal assistance are affected by this rule.
Just like in a residential building, owners of commercial properties must also disclose the presence of lead so long as they are selling the property.
The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards.
The servicer must follow the procedures in Notifying Fannie Mae of Lead-Based Paint Citations in F-1-12, Preparing to Implement a Workout Option to report the action to Fannie Mae.
Housing with deteriorated lead-based paint, which was banned in 1978, is the primary source of lead exposure in Illinois and elsewhere. Approximately 65 percent of Illinois housing units were built prior to the ban.
The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards.
Section 1018 of this law directed HUD and EPA to require the disclosure of known information on lead-based paint and lead-based paint hazards before the sale or lease of most housing built before 1978.
Section 1018 of the Residential Lead-Based Paint Hazard Reduction Act of 1992 directs EPA and HUD to jointly issue regulations requiring disclosure of known lead-based paint and/or lead- based paint hazards by persons selling or leasing housing constructed before the phaseout of residential lead-based paint use in 1978
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Residential lease or rental agreement which states that the Residential Landlord is disclosing the name, building, address and unit number of the Landlord. The address of the rental unit is not disclosed in this disclosure, unless the lease or rental agreement states otherwise. Landlord should provide the information after being given an opportunity to inspect the unit. 3-9 × 2-5 Rentaltal Amount”). The amount of rent for the month×lease period. Landlord is responsible for paying this amount. All Tenant's Information — All information must be provided prior to the rental. The unit number of each occupant as well as the name, address and unit number of any subsequent tenants. 2-3 × 1-4 Rentaltal Amount”). The amount of rent for the specific payment period of the first month×lease period for a Specific Rent Application. This amount must be paid by the first monthly or annual rent payment due after the effective date of the Tenant agreement.
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