Chicago releases separate interest rate summary

Compliance with 5-12-170 of the CRLTO

On December 31, 2019, the City of Chicago released the new interest rate for 2020 security deposits for those rental agreements governed by the Chicago Residential Landlord and Tenant Ordinance but it was not until today that they released the separate summary that must be attached to a lease to be in compliance with 5-12-170 of the ordinance. 

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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 Act.  The law applies to multi-unit residential properties containing 25 or more units for security … Read more

2017 CRLTO Chicago Interest Rate Summary Available

2017 rate of interest summary security deposit bilingual2017 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 in 2017 is .01%.  This summary – the WHOLE THING – needs to be attached to any new or renewal lease pursuant to 5-12-170 of the ordinance.  For leases entered into in 2017, do NOT use the 2016 form!

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2017 Chicago Security Deposit Interest rate released!

2017 Chicago security deposit interest rateCity 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 security deposits held for leases governed by the Chicago Residential Landlord and Tenant Ordinance (RLTO).  The rate has remained steady at 0.01% since 2015.  

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