Category Archives: Security Deposit

State of Illinois finally announces their 2017 security deposit interest rate

2017 Illinois rate announced by IDFPR Well, it took them about two weeks into the new year, but the State of Illinois has released the 2017 security deposit interest rate for those leases governed by the Illinois Security Deposit Interest … Continue reading

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2017 CRLTO Chicago Interest Rate Summary Available

2017 Rate of Interest on Security Deposits released by Chicago Building Department! It took a few days, but the 2017 Chicago RLTO interest rate summary is now available.  Remember, the interest rate for leases governed by the CRLTO entered into … Continue reading

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2017 Chicago Security Deposit Interest rate released!

City of Chicago retains same interest rate to be paid on Security Deposits under RLTO for third year in a row On Friday, the City of Chicago released the new 2017 security deposit interest rate.  The rate is the for … Continue reading

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Chicago Association of Realtors issues a Security Deposit Receipt

New Receipt Form issued by CAR for Deposits As readers of my blog should be well aware, I do not advocate the use of security deposits in those rentals governed by the Chicago Residential Landlord Tenant Ordinance.  While many landlords … Continue reading

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2016 Illinois Security Deposit Interest Rate Released

State Rate Released The IDFPR has issued a news release indicating the new security deposit interest rate for 2016 for those tenancies governed by the Illinois Security Deposit Interest Act.  The rate technically goes up from last year’s rate.  The … Continue reading

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Update on 2016 Illinois security deposit interest rate & more

A few quick updates: First, the Illinois Department of Financial and Professional Regulation has not yet posted the 2016 Security Deposit Interest Rate for tenancies governed by the Illinois Security Deposit Return Act on their website (update: the rate has … Continue reading

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2016 Security Deposit Interest rate for Chicago

City of Chicago interest rate to be paid on Security Deposits under CRLTO remains unchanged The City of Chicago has released the new interest rate for 2016.  That rate, for security deposits under rental agreements governed by the Chicago Residential … Continue reading

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2015 Chicago Security Deposit Interest Rate

City of Chicago sets security deposit interest rate for 2015 Well, it’s that time of year when the City of Chicago sets its annual interest rate for security deposits.  For those residential rentals covered by the Chicago Residential Landlord Tenant … Continue reading

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Illinois court upholds nonrefundable move-in fees under CRLTO

Landlords win case over move-in fee in lieu of security deposit For a number of years, landlords in the City of Chicago have sought to avoid the undue burdens and unreasonable potential liability resulting from the Chicago Residential Landlord Tenant … Continue reading

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Chicago Association of Realtors says “NO” to Chicago Security Deposits!

Local Realtor group recommends Chicago landlords avoid taking a deposit! The Chicago Association of Realtors just released the 2013 revised version of their Chicago Apartment Lease.  Interestingly, one traditional item is missing from that residential lease.  The Chicago Tribune reported … Continue reading

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