Property Management
Under the Chicago Residential Landlord and Tenant Ordinance (RLTO), a landlord must return a security deposit with interest within how many days after the tenant vacates?
A14 days
B21 days
C30 days✓ Correct
D45 days
Explanation
Under the Chicago RLTO, a landlord must return the security deposit (plus accrued interest if held for six months or longer) within 30 days after the tenant vacates the unit. If the landlord intends to withhold any portion for damages, they must provide an itemized statement within 30 days. Failure to comply can result in the landlord owing the tenant twice the deposit amount plus court costs and attorney fees.
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