🌿 Illinois Security Deposit Interest Notice
Chicago RLTO Annual Interest Notice for Security Deposits
CHICAGO RLTO REQUIREMENT — ANNUAL: Under the Chicago Residential Landlord and Tenant Ordinance, landlords must pay interest on security deposits annually at the Chicago Deposit Interest Rate (set each year by the City Comptroller). This notice documents the annual interest payment or credit to the tenant.
💰 Interest Calculation
Find the current rate at chicago.gov. The rate changes annually. Failure to pay interest forfeits the landlord's right to keep the deposit.
👤 Tenant Information
🏠 Rental Property
👔 Landlord Information & Signature
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The Chicago RLTO requires landlords holding security deposits to pay annual interest at the rate set by the City Comptroller. This must be done annually within 30 days after the end of each 12-month period of tenancy. Failure to pay interest allows the tenant to demand immediate return of the full deposit.
RLTO Interest Rate History (Recent Years)
The interest rate is set annually and varies — check the Chicago City Comptroller's website for the current year's rate. The rate has been very low in recent years (often 0.01–0.1%). Always verify the current rate before issuing this notice.
⚖ Legal Disclaimer
This form is for informational purposes only. Illinois landlord-tenant law varies by city — Chicago has significantly stricter rules under the RLTO. Consult a qualified Illinois attorney for advice specific to your situation.
