What is the typical duration of a residential lease in Illinois?

The typical duration of a residential lease in Illinois is indeed one year. This duration aligns with common practices in many rental markets, where a year-long lease provides stability for both tenants and landlords. A one-year lease allows tenants to secure their housing for a significant period without frequent relocation, while also offering landlords a longer commitment from tenants, reducing vacancy rates and associated costs.

Short-term leases, such as one month, are typically used for situations where flexibility is more important or for temporary housing options, but they are less common for standard residential agreements. Longer leases, such as two or five years, might be used in specific scenarios, often tied to higher-end properties or commercial agreements, rather than typical residential rentals. Thus, a one-year lease represents a standard expectation for most residential rental relationships in Illinois.