Exam Cheat Sheet · Quick Reference
Illinois Residential Leasing Agent
Illinois · PSI Services Real Estate
Illinois State Portion 50 questions
Key Distinctions
The 1866 Act bars all racial discrimination in every property transaction with no exemptions whatsoever, while the 1968 Act covers seven protected classes but has limited exemptions (e.g., certain owner-occupied dwellings, religious organizations/private clubs).
Civil Rights Act of 1866; 225 ILCS 454/5-10(a)(5) (fair housing curriculum requirement)Federal law explicitly protects seven classes (race, color, religion, national origin, sex, familial status, disability), while Illinois adds many more, including source of income, sexual orientation (incl. gender identity), ancestry, age, marital status, pregnancy, military status/unfavorable discharge, order of protection status, immigration status, and arrest record.
68 Ill. Admin. Code 1450.710An accommodation is a change to rules, policies, or services (e.g., providing a sign language interpreter) generally at the housing provider's cost, while a modification is a structural change to the premises that the landlord must permit but which, in non-federally assisted housing, is made at the tenant's expense (with possible restoration of interior changes at move-out).
Federal Fair Housing Act / ADA principlesA client is represented by the licensee and is owed fiduciary duties including promoting the client's best interests over the licensee's self-interest and confidentiality, while a customer is a consumer who is not represented and is owed only honest treatment and no negligently or knowingly false information.
225 ILCS 454, Section 15-15(a)(2)(F)A residential leasing agent may only lease/rent residential real property, attempt/offer/negotiate such leases, and supervise rent collection, but may not sell, offer, negotiate, list, show, or refer real estate for sale or commercial lease — and supervision by a managing broker does not expand that scope.
225 ILCS 454/5-5Under Section 5-5(b), residential leasing agents must be sponsored and employed by the sponsoring broker, whereas brokers may be either employed by or associated with a sponsoring broker by written agreement.
225 ILCS 454, Section 5-5(b)Records from the prior 2 years must be kept in the office and produced within 24 hours of a Division request, while older records may be stored elsewhere and must be produced within 30 days.
225 ILCS 454, Section 20-20(a)(18)Escrow accounts must be noninterest bearing unless payment of interest is otherwise required by law or the principals to the transaction specifically require in writing that the deposit be placed in an interest-bearing account.
225 ILCS 454, Section 20-20(a)(17)Escrow funds may be disbursed before consummation or termination only per the principals' written direction, written contract provisions, or court order, whereas funds may be deemed abandoned and transferred to the State Treasurer only if no disbursement was made, no court claim was filed, and 6 months have elapsed after a principal's written demand.
225 ILCS 454, Section 20-20(a)(17)(A)Section 15-50(a) requires brokerage relationships to be set out in a written brokerage agreement, but Section 15-50(a-5) provides the absence of a writing does not bar a client from enforcing an oral agreement and creates no affirmative defense to the existence of an agreement or performance of licensed activity.
225 ILCS 454, Section 15-50(a)An item permanently attached or installed so it becomes part of the real estate (e.g., a furnace connected to ductwork) is a fixture and real property, while an item merely resting in place and removable without damage (e.g., a window AC unit) remains personal property.
A trade fixture installed by a commercial tenant for business purposes retains its character as personal property and may generally be removed before lease expiration if the premises are restored, while an ordinary fixture becomes part of the real estate.
Key Terms
Formulas to Know
15 hours of instruction in an approved course of study relating to leasing residential real property (covering Act provisions, fair housing/human rights, advertising and marketing, leases/applications/credit and criminal background reports, owner-tenant relationships and laws, handling of funds, and environmental issues).Up to 120 consecutive days of residential leasing activity without a license, if supervised by a sponsoring broker, the Department is notified, and the person enrolls in the pre-license course no later than 60 days after beginning activity.Until a sponsored licensee completes 45 hours of post-license education, the designated managing broker must directly handle all earnest money, escrows, and contract negotiations and approve all advertisements; such licensees have no authority to bind the sponsoring broker.The party initiating the termination must notify the Department within 24 hours.Retain records a minimum of 5 years; back up electronic records at least monthly; prior-2-year records stay in the office and are produced within 24 hours of a Division/Department request, older records within 30 days.6 months after receipt of a written demand from a principal, with no disbursement made and no notice of a court claim filed, the escrow moneys may be deemed abandoned and transferred to the Office of the State Treasurer.Must provide automatic expiration within a definite period; if longer than 1 year, must give the client a right to terminate annually on no more than 30 days' prior written notice — otherwise the agreement is void.Two persons per bedroom is a general starting-point guideline, not an absolute rule; standards must be reasonable and uniformly applied and cannot be a pretext for familial status discrimination (e.g., 3 persons including an infant in a 1-bedroom is typically reasonable).File the complaint with HUD within 1 year of the alleged discriminatory act.Tenant payment = actual rent − housing assistance payment paid directly to the landlord.