Mobile Homes: Security Deposit

A security deposit is money you pay to the park owner when you move into a mobile home park. It helps cover unpaid rent or damage to the property. Here’s what you should know about security deposits for mobile homes in Illinois:

Amount Limit 

• The deposit can’t be more than one month’s rent. 765 ILCS 745/12.

Getting Your Deposit Back (765 ILCS 745/18(a))

• If you pay all your rent and leave the home in good condition, you should get your full deposit back.
• The park owner must return your deposit within 15 days after your lease ends.
• If there are damages, the park owner must give you a list of the repairs and their costs within 15 days.
• If you don’t disagree with the list within 15 days, you accept the charges.
• If the park owner does not give you a list of damages, they must return your full deposit.
• If you don’t provide a forwarding address, the park owner doesn’t have to send you the list or return the deposit.

Earning Interest on Your Deposit (765 ILCS 745/18(b))

• If the park has 25 or more mobile homes, the park owner must pay interest on your deposit if they hold it for more than six months.
• The interest rate is based on what the largest bank in Illinois pays on savings accounts.
• The park owner must pay this interest every year or apply it to your rent if you both agree.
• If the park owner refuses to pay the required interest, a court may order them to pay you an amount equal to your security deposit, plus legal fees.

Where Your Deposit Is Held (765 ILCS 745/18(c))

• Park owners must keep security deposits in a separate bank account.
• Deposits cannot be mixed with the park owner’s money or used to pay their debts.
• If the park owner faces foreclosure or bankruptcy, the security deposit must still be protected.

Knowing your rights can help you avoid problems when moving out of a mobile home park. Always get a written lease and keep records of your payments and any communication about your deposit.