If your rental is in Chicago, pay deposit interest after each lease year. If your rental is in Chicago and covered by the Residential Landlord and Tenant Ordinance (owner-occupied buildings of six or fewer units are exempt), pay the tenant interest on any security deposit held more than six months, in cash or as a rent credit, within 30 days after the end of each 12-month rental period, because missing it can cost damages of twice the deposit plus interest.
The Illinois rule
Each rule shows its schedule, its primary sources, and the date it was last verified.
Related rules in Illinois
The Illinois guide lists every compliance obligation, the seasonal maintenance calendar, and baseline upkeep.
Open the Illinois landlord guide · Security deposit interest in every state
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This guide is the reading version of the Landautomate Illinois rule base. In the app, the same rules become dated tasks on each Illinois property, timed to its purchase date, lease dates, age, and climate, with an email before each one is due. The free preview shows a sample of that schedule for Illinois in under a minute, no account needed.
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