Oak Park (RTLO) Security Deposit - General
A security deposit is a payment from a tenant held by a landlord. The Oak Park Residential Tenant and Landlord Ordinance has rules about security deposits.
- The maximum security deposit
- Receipt
- How the security deposit is stored
- Return of security deposit
- What happens to the security deposit when ownership is transferred
When a landlord does not follow the law, the landlord is held liable. A tenant may be entitled to damages (twice the security deposit + attorney's fees) when the landlord violates the law. The tenant has two years to sue the landlord for the violation. The 2-year countdown starts on the day that the violation happens.
The above article provides information about legal issues but is not the same as legal advice. Legal advice is when a lawyer applies the law to your specific situation. The information in this article does not replace the advice or representation of a licensed attorney. Law Center for Better Housing cannot guarantee the accuracy or completeness of the information in this article and is not responsible for any consequences that may result from using it. You should consult with a licensed attorney to ensure the information in this article is appropriate for your specific situation. Using the information in this article does not create a relationship between Law Center for Better Housing and you as your attorney.