A New Year’s Miracle! For the first time in at least a decade, the City of Chicago has released the security deposit interest rate and interest rate summary EARLY. Chicago landlords governed by the residential landlord tenant ordinance (RLTO) will not be surprised to learn that this year’s interest rate for the seventh straight year … Read more
Compliance with 5-12-170 of the CRLTOOn 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.
The Comptroller of the City of Chicago has released the rate for leases entered into from January 1, 2020 to December 31, 2020 that are governed by the Chicago Residential Landlord and Tenant Ordinance. For those rental agreements, the rate to comply with the requirements of Section 5-12-080 of the CRLTO
City of Chicago retains same interest rate to be paid on Security Deposits under RLTO for third year in a rowOn 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.