Security Deposit Interest Rates in Chicago for 2012
The City of Chicago Residential Landlord and Tenant Ordinance (RLTO) requires
the City Comptroller to set the rate of interest to be paid on security deposits
held by landlords. The rate is calculated annually based on a formula tied to
actual market rates. The new rate for 2012 is 0.057%.
This applies to all residential rental agreements in which the lease term
begins from January 1, 2012 to December 31, 2012.
For more information on Chicago rentals, please contact me.
Until the next time,
Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!
Visit me online: www.773property.com
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