It seemed like things were getting better with the City of Chicago, however, the last two years haven’t been great when it came to the timely release of security deposit interest rates. It is January 3, 2024 and the page that was updated on January 5, 2023 remains up (see below in case they change the link). When will we get a copy of the new interest rate sheet so that landlords can update their leases? I’ve opined on this in the past – how can the City expect strict liability and strict compliance with their law when they don’t respect landlords enough to give them the information necessary to do the job right? Per the City of Chicago Department of Finance, the rate itself is .010 percent.
