Chicago security deposit interest rate set
All you residential landlords out there subject to the Residential Landlord and Tenant Ordinance note, the comptroller has set the interest rate on security deposits in 2007 at 1.68%.
Recall, interest is payable within 30-days after the end of each 12-month rental period, even if the lease extends for more than one year.
posted by Peter @ 9:51 AM
2 comments
2 Comments:
The security deposit interest rate for Chicago RLTO-covered landlords on 2008 leases is 1.26%
All the rates for the Chicago RLTO and the Illinois Security Deposit Interest Act are at http://www.depositlaw.com/chicago.htm
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