New Chicago RLTO Summary released Back in March 2024, we discovered something new on the City of Chicago website section dealing with rentals. The link for the Chicago RLTO summary connected to a document that vaguely looked like an RLTO summary. It had all the same information as the prior summary with just a small … Read more
New Section 5-12-170 Ordinance Summary to be Attached to LeasesAs my readers know, the CRLTO was amended recently with the passage Mayor’s Fair Notice law that made significant changes to Section 5-12-130(j) of the Ordinance. The City has FINALLY release their revised version of the CRLTO summary. You can find a copy
For all leases governed by the Chicago Residential Landlord and Tenant Ordinance (RLTO), Section 5-12-170 requires that a landlord attach a summary of the ordinance and an interest rate summary to the lease. The City of Chicago has finally released the summary that includes the 2018 security deposit interest rate. The summary contains an English … Read more
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 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!
Please Note: The summary now says “Approved by the City of Chicago, June 2013; summary revised 2016” – always check to be sure you are using the latest summary! The City of Chicago has placed a NEW version of the Chicago Residential Landlord and Tenant Ordinance Summary on its “Chicago Rents Right” website. The summary … Read more
FINALLY! CITY ISSUES FORM. I guess landlords were getting good at making their own forms in January to reflect the new rate of interest on security deposits. Luckily, the City of Chicago has finally released its interest rate summary required by Section 5-12-170 of the Chicago Residential Landlord and Tenant Ordinance (RLTO). The summary (linked … Read more
Chicago issues CRLTO Summary for 2014 Interest Rate Section 5-12-170 of the Chicago Residential Landlord and Tenant Ordinance requires a separate summary (in addition to the ordinance summary) “…describing the rights, obligations, and remedies of landlords and tenants with respect to security deposits, including the interest rate as well as the rate for each of … Read more
The City of Chicago has released the new 2013 version of the separate security deposit interest rate summary required to be attached to leases covered by the Chicago Residential Landlord Tenant Ordinance executed in 2013.
This is the second of the two summaries required by Section 5-12-170 of the Chicago Residential Landlord Tenant Ordinance.
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 a rental agreement (oral or written) is initially offered pr renewed to a tenant or … Read more