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Updated over 6 years ago,

User Stats

414
Posts
94
Votes
Art Maydan
  • Chicago, IL
94
Votes |
414
Posts

Chicago Security Deposits - Who's Exempt From Paying Interest?

Art Maydan
  • Chicago, IL
Posted

I'm giving back a security deposit for a 1-year lease that just ended (Have since switched to fees). It's a unit in a triplex (not owner-occupied). Do I need to pay the 0.01% interest on this? I'm reading Domu and they say on page 6 of this that interest applies to owners of apartment buildings with 25+ units: https://www.domu.com/security-deposit-summary

But I see a ton of people talking about this issue who are renting smaller buildings on the forums.

I'm glad I switched to fees. This is way too much headache over 18 cents...

Thank you!

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