Security Deposit Law

Chicago Landlord Tenant Ordinance

TWO-TIMES THE SECURITY DEPOSIT UNDER RLTO § 5-12-080 "Security Deposits"

 

RLTO

 

 

 

 

 

 

 

 		  

 
     There's more than one way a Chicago Landlord can wind up owing the Tenant damages equal to two-times the security deposit under Section 080(f).  If a Landlord fails to comply with any requirement under Section 080, the Tenant is entitled to damages equal to two-times the full security deposit amount.  This may be true even if the Tenant suffers no actual loss, and the Landlord's mistake was accidental.  www.depositlaw.com

Some of the most popular mistakes made by Chicago Landlords that violate Section 080 include:

(a) Commingling

 

Putting Security Deposit into Same Account that Rent is Deposited Into.

 

 

commingled security deposit

(b) Defective Receipt

 

Receipt not given at same time deposit changes hands, not signed by Landlord, etc.

 

 

security deposit receipt

(c) Interest Payment

 

Interest not paid every 12 months, or at wrong rate.

 

 

interest on security deposit

(d) Deposit Return

 

Deposit not accounted for in writing or paid receipts not given for damage or repairs.

 

 

proposal is not a paid receipt

(e) Late Notice of Sale

 

Notice of transfer of ownership of building not given to Tenant within 10 days and in writing.

 

notice of sale made too late
         
   

Residential Landlord and Tenant Ordinance