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The
security deposit interest section of The
Chicago Residential
Landlord Tenant Ordinance (RLTO) has been
interpreted by the Illinois Supreme
Court to impose strict-liability upon violator
landlords. Other sections of the RLTO have also been interpreted by
Illinois courts in decisions mostly favorable to renters.
Chicago renters of town-homes, apartments, condos,
and single-family homes may email
attorney
for a free
initial review of their Chicago rental situation and rights.
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SECTION
5-12-010
5-12-020
5-12-030
5-12-040
5-12-050
5-12-060
5-12-070
5-12-080
5-12-081
5-12-082
5-12-090
5-12-100
5-12-110
5-12-120
5-12-130
5-12-140
5-12-150
5-12-160
5-12-170
5-12-180
5-12-190
5-12-200
RATES
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TITLE
Title, Purpose and scope
Exclusions
Definitions
Tenant Responsibilities
Landlord's Right of Access
Remedies for Improper Denial of Access
Landlord's Responsibility to Maintain
Security Deposits
Interest Rate on Security Deposits
Interest Rate Notification
Identification of Owner and Agents
Notice of Conditions Affecting Habitability
Tenant Remedies
Subleases
Landlord Remedies
Rental Agreement
Prohibition on Retaliatory Conduct by Landlord
Prohibition on Interruption of Tenant Occupancy by Landlord
Summary of Ordinance Attached to Rental Agreement
Attorney's Fees
Rights and Remedies Under Other Laws
Severability
Chicago's Security Deposit Interest
Rates |
5-12-082
Interest Rate Notification
The city comptroller, after computing the rate of interest
on security deposit governed by this chapter, shall cause the new rate
of security deposit interest to be published for five consecutive
business days in two or more newspapers of general circulation in the
city. The mayor shall direct the appropriate city department to prepare
and publish for free public distribution at government offices,
libraries, schools and community organizations, a pamphlet or brochure
describing the respective rights, obligations and remedies of landlords
and tenants with respect to security deposits, including the new
interest rate as well as the interest rate for each of the prior two
years. The commissioner shall also distribute the new rate of security
deposit interest, as well as the interest rate for each of the prior two
years, through public service announcements to all radio and television
outlets broadcasting in the city. |