Security Deposits

This is a copy of the Illinois statute governing security deposits.  Please note it is for buildings with five or more units.  This applies to our multi-family properties but not to our single family homes.  Traditionally we do generally follow the outline of the state statue regarding deposits for our single family homes also.  Items typically deducted from the security deposit is damages, cleaning, late fees, bounced check fees and other misc. that may have been accrued by the tenant.

Illinois State Statute About Security Deposits