Oak Park (RTLO) Security Deposit - Landlord Must Give Receipt

If a tenant lives in Oak Park and the Oak Park Residential Tenant and Landlord Ordinance (RTLO) applies, the landlord needs to follow certain rules when the tenant pays a security deposit. 

What kind of receipt does the landlord need to give a tenant?

The person who receives the security deposit must give the tenant a receipt that includes the following information: 

• the amount of the deposit; 
• the name of the landlord (if different from the person receiving the money);
• the date; 
• a description of the apartment; and 
• signature of the person who received the security deposit.

If the tenant gave the security deposit via electronic funds, then the landlord can give a written or electronic receipt.

What if the landlord didn't give a receipt?

A tenant may notify the landlord in writing that they didn't receive a receipt and the landlord has two (2) business days to give a receipt. If the landlord does not give a receipt within two (2) business days, then the tenant may go to court. A tenant may be be entitled to damages (twice the security deposit + attorney's fees). The tenant has two years to sue the landlord for the violation. The 2-year countdown starts on the day that the violation happens.

If a tenant has any questions or concerns about their security deposit, it's best to speak with the landlord or consult with a legal professional.