|Are you a
tenant or a landlord with a
question about your security deposit? Contact us:
Reda | Ciprian | Magnone, LLC
8501 W. Higgins Suite 440
Chicago, Illinois 60631
Deposit Interest Rates
Landlord Tenant Ordinance
[ si-kyoor-i-tee di-poz-it ] - noun:
1. money a tenant deposits with a landlord as security for the tenant's
full and faithful performance of the lease terms.
We hope that this website will educate tenants and landlords about
their rights and duties regarding security deposits under Illinois and
various municipal laws, including Chicago, Evanston, Mt. Prospect and
Check out our newest website:
www.chicagoeviction.com where we blog regularly on landlord tenant law.
Deposit Interest Rates Announced
The State of Illinois and City of Chicago have announced the new
interest rates for 2015. Click
here to see the new rates.
ALERT: Amendment to 5-12-080 (7/30/10)
City Council has passed an amendmnet to the CRLTO related to security
deposits to take effect within the next 60 days or so. Click here to see the text of the ordinance amendmnet. Effective 8/28/10.
Questions from the email
Here are some of the more common questions and answers from our email. Click
here to take a look.
The Chicago City Counsel recently enacted new section 5-12-095 of the CRLT which requires landlord's notice to tenants of a foreclosure lawsuit.
Double the deposit?
many cases, landlords can be responsible to pay and tenants may be
entitled to receive a penalty in the amount of double the tenant's
security deposit (plus interest, court costs and attorneys fees).
Landlords should make great effort to avoid the steep
imposed by the law for security deposit violations and tenants should
make sure that their rights have not been violated.
landlords run afoul of laws dealing with security deposits by 1)
failing to provide a receipt for a security deposit; 2) failing to
timely pay interest on a security deposit; 3) failing to properly
segregate security deposit funds from the landlord's own funds; 4)
failing to provide a proper and timely statement of offsets from a
deposit; and 5) failure to timely return the deposit.
on the applicable law, landlords may be responsible for payment of the
deposit, interest, penalties, attorneys fees and court costs!
Where to Start
out what law applies to you tenancy. Possible governing laws
local municipal ordinances
and the terms of your
lease, if any. Remember, some laws may not apply to your
For instance, certain properties in Chicago are excluded from
application fo the CRLTO.
In addition, certain court decisions will
also govern the application of the law to the factual terms of your
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