Illinois security deposit interest

IDFPR releases Illinois Security Deposit Interest Rate for 2020

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Better Late Than Never

Well, I guess January 6, 2020 is as good a day as any for the IDFPR to finally announce the Security Deposit Interest rate for security deposits governed by the Illinois Security Deposit Interest Act.  That law applies to lessors “of residential real property, containing 25 or more units in either a single building or a complex of buildings located on contiguous parcels of real property”. 

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State of Illinois finally announces their 2017 security deposit interest rate

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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

2016 Illinois Security Deposit Interest Rate Released

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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 IDFPR release reads as follows: The Illinois Department of Financial and Professional Regulation, Division of … Read more