Illinois Real Estate Practice Exam

A graduated lease is a type of lease agreement that includes clauses specifying rent increases at predetermined future dates. This gradual increase in rent over time is often predetermined and agreed upon by both the landlord and tenant at the beginning of the lease term. This structure allows for rent to increase in a predictable and scheduled manner, providing both parties with clarity on future rental costs. In contrast, the other options (B, C, and D) do not accurately define a graduated lease and are unrelated to this type of lease agreement.