Early word on 2019 City of Chicago Security Deposit Interest Rate

2019 Interest Rate Sneak Peek

I don’t have official word yet (keep checking back here), but I have heard from a reliable source that the 2019 Chicago interest rate on security deposits held pursuant to 5-12-081 for rental agreements covered by the Chicago RLTO executed between January 1, 2019 and December 1, 2019 will remain at the previous rate of .01%.  Keep in mind that the City of Chicago has not yet released the security deposit interest rate disclosure for Chicago Residential Landlord Tenant Ordinance governed properties, but I will be sure to post it as soon as it becomes available.  Obviously, landlords should wait for official confirmation, but it seems very unlikely that there will be any groundbreaking change in the coming year.

 

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