2022 State of Illinois Security Deposit Interest Rate Announced

Just today, January 3, 2022, the IDFPR has issued a press release indicating the new Security Deposit Interest Rate for 2022 for those tenancies governed by the Illinois Security Deposit Interest Act.  The new rate for 2022 is(big surprise) .01%.

Remember, the Illinois Security Deposit Interest Act applies to “A lessor of residential real property, containing 25 or more units in either a single building or a complex of buildings located on contiguous parcels of real property…”

 

 

 

About Richard Magnone

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