Mount Prospect Security Deposit - Landlord Must Return Security Deposit

If a tenant lives in Mount Prospect and the Mount Prospect Residential Landlord and Tenant Regulations apply, the landlord needs to follow certain rules when the tenant pays a security deposit.   

When does the landlord need to return a security deposit? 

Under the Mount Prospect Regulations, the landlord must return the security deposit within 45 days after the tenant moved out.

How much the landlord need to return?

The landlord must return the security deposit plus any interest accrued. The landlord is allowed to deduct from the security deposit for the following:

• A reasonable amount necessary to repair any damage caused to the dwelling by the tenant, anyone under the tenant’s control, or anyone in the dwelling with the tenant’s permission
  • The landlord must personally deliver or send via certified mail (with return receipt requested) to the tenant’s last known address a statement of the alleged damages within 30 days. 
  • The landlord must (1) attach the paid receipts OR (2) give an estimate and follow-up with the paid receipts within 30 days of giving the estimate. 

The landlord cannot deduct for decorating after a tenant moves out. For example, the landlord cannot deduct from the security deposit because of painting and carpet cleaning unless the lease specifically includes those as a part of the tenant's cleaning responsibility upon vacating the rental unit.

What happens if the landlord did not return the security deposit?

When a landlord does not follow the law, a tenant may be sue the landlord and receive damages. 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.