Reda | Ciprian | Magnone, LLC
Attorneys

2014 Chicago Security Deposit Interest Rate CRLTO released!

The Chicago Residential Landlord and Tenant Ordinance dictates that the City of Chicago must determine annually the interest rate to be paid to tenants for leases governed by 5-12-080 of the Chicago Residential Landlord and Tenant Ordinance (CRLTO).  This year, the rate has dropped a bit.  The new rate is (drum roll please):

0.013%

It is small – almost miniscule – but must still be paid.  And, as an added reminder, please remember that the Chicago Residential Landlord and Tenant Ordinance requires that Landlords signing leases for January 1, 2014 must include a summary that includes the 2014 security deposit interest rate!

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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