Tag Archives: security deposit

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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2014 City of Chicago CRLTO Security Deposit Interest Rate set!

Well, here’s an early New Year’s present!  Erin Keane, acting Comptroller of the City of Chicago has released the new rate of interest on security deposits governed by the Chicago Residential Landlord Tenant Ordinance for the period from January 1, … Continue reading

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Unciteable CRLTO cases

Every now and then, we come across “uncitable” orders filed pursuant to Illinois Supreme Court Rule 23(e), that deal with fundamental Chicago Residential Landlord Tenant Ordinance (RLTO) security deposit issues.  These are strange birds.  They are “out there” in the … Continue reading

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Why does CRLTO compliance matter for landlords?

I know.  Really, I know.  You hate the ordinance.  I hate it too.  I think it is poorly written, contains lots of ambiguities, and is certainly draconian.  The law leaves much room for improvement, however, landlords themselves have brought some … Continue reading

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No money? No Keys!

Meet Bill.  He’s owned a condo in the West Loop for six years.  Two years ago, Bill got married.  He and his wife just closed on a new home in Wheaton.  Bill never intended to own his condo this long, … Continue reading

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2012 CRLTO Interest Rate Summary Released

This City of Chicago has made available the 2012 CRLTO security deposit interest rate summary.  The summary can be found here.  This is ONE of the TWO summaries that must be provided to tenants pursuant to CRLTO Section 5-12-170 when … Continue reading

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Major Alert: CRLTO 5-12-080 (security deposit) judgments not dischargeable by landlords in bankruptcy

A new case published on October 14, 2011 by the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division indicates that a judgment obtained by a tenant against a landlord for various violations of Section 5-12-080 of … Continue reading

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Illinois Security Deposit Return Act amended to protect tenants from foreclosure

The Illinois Security Deposit Return Act was amended over the weekend.  House Bill 1674 amends both the the Illinois Mortgage Foreclosure Law and the Illinois Security Deposit Return Act.  The law is intended to protect the security deposits of tenants whose … Continue reading

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Nonrefundable application fees

Many Chicago landlords use nonrefundable fees to avoid the application of the CRLTO security deposit rules.  Instead of taking a security deposit and holding it subject to the CRLTO rules, landlords take an administrative fee that is nonrefundable.

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