2017 CRLTO Chicago Interest Rate Summary Available

2017 rate of interest summary security deposit bilingual2017 Rate of Interest on Security Deposits released by Chicago Building Department!

It took a few days, but the 2017 Chicago RLTO interest rate summary is now available.  Remember, the interest rate for leases governed by the CRLTO entered into in 2017 is .01%.  This summary – the WHOLE THING – needs to be attached to any new or renewal lease pursuant to 5-12-170 of the ordinance.  For leases entered into in 2017, do NOT use the 2016 form!

The form linked above is bilingual.  Even if the lease is not in Spanish, it is required to use the whole thing (both English and Spanish) unless you want to tempt a tenant’s rights attorney to sue!

About Richard Magnone

Co-founding member of Reda | Ciprian | Magnone, LLC, attorney at law and Illinois licensed lawyer since 1996.
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