Rental-Finding Services

Because of the nationwide demand for rental housing, caused in part by the increased mobility of the U.S. population, there has been a rapid growth in the rental-finding service industry.

In Illinois, a rental-finding service is any business that finds, attempts to find, or offers to find for any person for consideration, a unit of rental Real Estate or a lessee for a unit of rental Real Estate NOT owned or leased by the business. Any person or business entity that operates a rental-finding service must obtain a Real Estate license and comply with all provisions of the Illinois Real Estate License Act of 2000. General-circulation newspapers that advertise rental property and listing contracts between Owners or lessors of Real Estate and registrants are exempt from this requirement.

Rental-finding services are required to enter into written contracts with the parties for whom their services are to be performed. The contract must clearly disclose

• The term of the contract
• The total amount to be paid for the services
• The service’s policy regarding the refunding of fees paid in advance, and the conditions under which refunds may or may not be paid (printed in a larger typeface than the rest of the contract)
• The type of rental unit, geographic area, and price range the prospective Tenant desires
• A detailed statement of the services to be performed
• A statement that the contract shall be void, and all fees paid in advance shall be refunded, if the information provided regarding possible rental units available is not current or accurate (that is, if a rental unit is listed that has been rented more than 2 days ago)
• A disclosure that information regarding possible rental units may be up to two days old

With regard to any individual rental unit, a prospective Tenant must be provided with the name, address, and telephone number of the Owner, a description of the unit, monthly rent, and security deposit required, a description of the utilities available and included in the rent, the occupancy date and lease term, a statement describing the source of the information, and any other information the prospective Tenant may reasonably be expected to need.

A rental-finding service may not list or advertise any rental unit without the express written authority of the unit’s Owner or Agent.

 A Real Estate licensee who violates any of these requirements will be construed to have demonstrated unworthiness or incompetence and will be subject to the appropriate disciplinary measures.