Security Deposits (Explained)

Landlords typically ask for the equivalent of one month's rent as a Security Deposit (though there is no legal limit as to how much they can ask for in the state of IL). They hold this money for various reasons but the main purpose is to cover any damages they may incur upon the tenant leaving; including unpaid rent, damages to the property or cleaning of the property.

According to IL State Law, your landlord must pay you interest on your security deposit if it is held for longer than 6 months and there are 25 units or more in your building/complex. Your landlord has the choice of either applying this as a credit to your rent or paying you directly. You may sue your landlord should he/she fail to provide interests back on your security deposit (if you meet the criteria above) for the security deposit, interest, court costs and attorney's fees.

The Illinois Security Deposit Return Act stipulates the following:

Your landlord MUST return your security deposit in full within 45 days from the date you moved if your building consists of five or more units and you have satisfied all of the following requirements:

• You do not owe any back rent.
• You have not damaged the rental unit in any way beyond reasonable wear and tear.
• You have cleaned the apartment before you moved out.

If your landlord refuses to return your Security Deposit, he/she must provide you with an itemized report (including paid receipts) for all repairs made within 30 days of your moving out.

Tenant's Rights and Responsibilities

According to the IL General Attorney, tenants are entitled to the following rights and are also required to fulfill the following responsibilities:

-You should demand a written lease to avoid any misunderstandings with your landlord.

-You must pay rent on time as agreed upon in the lease.

-You must keep the rental unit clean and undamaged.

-You are responsible for any damages beyond normal wear and tear.

-You must pay the utility bill if you are responsible (again, refer to the written lease).

-You may not alter the rental unit in any way without your landlords approval.

-You must give written notice before you plan to move out. This gives you the best chance at not losing your security deposit. (Approx 30 days notice)

-The Illinois Retaliatory Eviction Act prevents your landlord from evicting you for complaining to any governmental authority.

The best way to avoid any misunderstandings with your landlord is to maintain open and direct communication. Before moving in, it's best to take photos of each room (including any existing damage) and either email or mail these photos to him/her. Keep a copy for your records and remember to review these at the end of the lease. If your landlord does withhold any money, he must give you copies of receipts for the work done. If not, you are able to sue (in the state of IL) for the entire security deposit along with any court costs. (if your landlord, in fact, is withholding more than the cost of repairs.)

Good luck! Feel free to email me any questions, I'm more than happy to answer them. :-)

Or email any questions to Veronica.Sandoval@PrimeAnytime.com

Source: Illinois Attorney General