The Comptroller of the City of Chicago has released the rate for leases entered into from January 1, 2020 to December 31, 2020 that are governed by the Chicago Residential Landlord and Tenant Ordinance. For those rental agreements, the rate to comply with the requirements of Section 5-12-080 of the CRLTO
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2019 Chicago Security Deposit Interest Summary Available
2019 CRLTO Interest Rate Summary
The City of Chicago has finally released the separate interest rate summary for Chicago RLTO governed leases for 2019. Remember, Chicago landlords governed by the Chicago Residential Landlord and Tenant Ordinance are required by Section 5-12-170 of the RLTO to
2019 Chicago Security Deposit Interest Rate Released
2019 Chicago RLTO Interest Rate Stays the Same
The City of Chicago Comptroller, Erin Keane, has released the 2019 security deposit interest rate and, as expected, the rate for leases governed by the Chicago Residential Landlord Tenant Ordinance signed in 2019 is going to be
Early word on 2019 City of Chicago Security Deposit Interest Rate
2019 Interest Rate Sneak Peek
I don’t have official word yet (keep checking back here), but I have heard from a reliable source that the 2019 Chicago interest rate on security deposits held pursuant to 5-12-081 for rental agreements covered by the Chicago RLTO executed between January 1, 2019 and December 1, 2019 will
City of Chicago releases CRLTO 2018 Interest Summary
For all leases governed by the Chicago Residential Landlord and Tenant Ordinance (RLTO), Section 5-12-170 requires that a landlord attach a summary of the ordinance and an interest rate summary to the lease. The City of Chicago has finally released the summary that includes the 2018 security deposit interest rate. The summary contains an English … Read more
At long last, the CRLTO Interest Rate Summary for 2015 is Available!
FINALLY! CITY ISSUES FORM. I guess landlords were getting good at making their own forms in January to reflect the new rate of interest on security deposits. Luckily, the City of Chicago has finally released its interest rate summary required by Section 5-12-170 of the Chicago Residential Landlord and Tenant Ordinance (RLTO). The summary (linked … Read more
Calculating security deposit interest payment on a one year lease per the CRLTO
Calculating the interest due a tenant on a security deposit held by a landlord pursuant to a tenancy governed by the Chicago Residential Landlord Tenant Ordinance should be simple enough, right? It should be, however, because of the “high stakes” involved in the case of an incorrect calculation, landlords need to make sure the calculation is done right.
So, without much further ado, here is an example of how to calculate the interest payable to a tenant with a security deposit on a one year lease subject to CRLTO section 5-12-080(c).