Security Deposit Interest Act

The Security Deposit Interest Act requires landlords of buildings or complexes containing 25 or more units to pay interest on security deposits.

Authority: 

Illinois State

Citation: 

765 ILCS 715 et seq. (2013).

Online text of the the law: 

http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2203&ChapterID=62

Related Laws

• 

  Residential Landlord and Tenant Ordinance (RLTO)

  Governs the majority of residential rental agreements in the City of Chicago.
• 

  Eviction Act

  Defines the eviction process in Illinois.
• 

  Rental Property Utility Services Act

  Defines rights with regard to landlord paid utilities and common area utilities.
• 

  Residential Tenants' Right to Repair Act

  Allows renters to make repairs in certain circumstances and deduct the costs from rent.
• 

  Retaliatory Eviction Act

  Protects renters who make valid complaints.
• 

  Security Deposit Return Act

  Defines the landlord’s responsibilities for returning security deposits.