Chicago passed a new ordinance in 2021 that requires landlords to pay interest on security deposits. This law is intended to help tenants save money and make it easier for them to move into new apartments. However, there are some important things that landlords and tenants need to know about this law. For years, tenants … Read more
Understanding Interest On Security Deposit: A Comprehensive Guide For Landlords And Tenants Are you a landlord or tenant struggling to understand the complexities of security deposit interest? You’re not alone. This guide will delve into everything you need to know about interest on security deposits, ensuring you navigate this aspect of renting with confidence. Receipts … Read more
Renting in the vibrant city of Chicago can be an exciting journey, but it’s essential to understand the intricacies of security deposits and the interest rates attached to them. As a landlord or tenant, navigating these regulations can be daunting. This comprehensive guide will provide you with all the knowledge you need to ensure a … Read more
Chicago Security Deposit Interest Rate: Legal Requirements And Current Rates Landlords are required to pay interest on security deposits Paying a security deposit is a standard practice when you are renting a property in Chicago. The security deposit serves as a form of protection for the landlord in case of any damages or unpaid rent … Read more
Security Deposit Interest Rate In Chicago: Unlock Your Earnings On Rented Properties Did you know that you can earn interest on your security deposit in Chicago? That’s right – you can put your money to work for you, even while you’re renting. If you’re a landlord, you may be wondering why you would want to … Read more
