Your landlord can require you to pay a security deposit which may be used to cover unpaid rent, repair damages to the unit, and clean the unit after you move. The amount of the security deposit is normally equal to one month’s rent, however, there is no legal limit on the amount your landlord can require.
Interest on Your Security Deposit
State law requires your landlord to pay you interest on your security deposit if it is held for at least six months and there are at least 25 units in your building or complex. Your landlord must pay you the interest or apply the interest as a credit to your rent every 12 months. You may sue your landlord for willfully failing to pay interest and recover an amount equal to your security deposit, court costs, and attorney’s fees.
Return of Your Security Deposit
The Illinois Security Deposit Return Act requires your landlord to return your security deposit in full
within 45 days of the date you moved, if:
• Your building or complex consists of 5 or more units.
• You do not owe any back rent.
• You have not damaged the rental unit.
• You cleaned the apartment before you moved.
If your landlord refuses to return all or any portion of your security deposit, he/she must give you an itemized statement of the damages along with paid receipts within 30 days of the date you moved. You can sue your landlord to recover your security deposit. If a court finds that your landlord violated the security deposit law, he/she could be liable for damages.
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