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Security Deposit Return Act

Security Deposit Return Act

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Published by ChicagoMTO

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Published by: ChicagoMTO on Oct 04, 2010
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10/04/2010

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(765 ILCS 710/) Security Deposit Return Act.
(765 ILCS 710/0.01)
 
(from Ch. 80, par. 100)Sec. 0.01. Short title. This Act may be cited asthe Security Deposit Return Act.(Source: P.A. 86-1324.)(765 ILCS 710/1)
 
(from Ch. 80, par. 101)Sec. 1. A lessor of residential real property,containing 5 or more units, who has received asecurity deposit from a lessee to secure the paymentof rent or to compensate for damage to the leasedproperty may not withhold any part of that depositas compensation for property damage unless he has,within 30 days of the date that the lessee vacatedthe premises, furnished to the lessee, delivered inperson or by mail directed to his last knownaddress, an itemized statement of the damageallegedly caused to the premises and the estimatedor actual cost for repairing or replacing each itemon that statement, attaching the paid receipts, orcopies thereof, for the repair or replacement. Ifthe lessor utilizes his or her own labor to repairany damage caused by the lessee, the lessor mayinclude the reasonable cost of his or her labor torepair such damage. If estimated cost is given, thelessor shall furnish the lessee with paid receipts,or copies thereof, within 30 days from the date thestatement showing estimated cost was furnished tothe lessee, as required by this Section. If no suchstatement and receipts, or copies thereof, arefurnished to the lessee as required by this Section,the lessor shall return the security deposit in fullwithin 45 days of the date that the lessee vacatedthe premises.Upon a finding by a circuit court that a lessorhas refused to supply the itemized statementrequired by this Section, or has supplied suchstatement in bad faith, and has failed or refused toreturn the amount of the security deposit due withinthe time limits provided, the lessor shall be liablefor an amount equal to twice the amount of thesecurity deposit due, together with court costs andreasonable attorney's fees.(Source: P.A. 86-1302.)

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