Reda | Ciprian | Magnone, LLC
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2013 Chicago CRLTO Security Deposit Interest Rate Set

chirate2013The New Year is a crazy time for Chicago landlords.  The first thing they need to do is to figure out the new security deposit interest rate to pay their tenants on CRLTO covered leases initiated in the new year.  The Chicago Residential Landlord Tenant Ordinance requires landlords in covered tenancies to pay interest on residential security deposits based upon the interest rate provided by the Comptroller of the City of Chicago in accordance with 5-12-081 of the CRLTO.  The Comptroller has released the rate in a press release today.  For leases entered into from January 1, 2013 to December 31, 2013, the interest rate to be used for the CRLTO is .023%

Landlords can also find the security deposit interest rate for past years on our website.

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Reda | Ciprian | Magnone, LLC
8501 W. Higgins Suite 440
Chicago, Illinois 60631

Call: (773) 399-1122
Fax: (773) 399-1144

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Reda | Ciprian | Magnone, LLC serves the public and other Illinois attorneys by providing timely, accessible information about Illinois law, specifically, estate planning, probate, entity formation, corporate, landlord-tenant, real estate & other areas of the law. Our firm has assisted clients as far away as France and India in their Illinois legal matters.

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Probate Law Landlord Tenant Law Corporate Law Real Property Law Estate Planning