If a landlord has no reason to withhold the security deposit, as mentioned above, it must be returned within 45 days of the tenant moving out.
If the security deposit is not returned in full, the landlord is required to provide a written itemized list to the tenant stating how the deposit money has been used to cover costs (whether it’s to cover unpaid rent or paying for repairs).
In Illinois, this allows a landlord to withhold a security deposit for only one of two very specific reasons: 1) If the tenant owes unpaid rent 2) If there is damage caused by the tenant beyond normal wear and tear It’s more common for landlords to withhold money due to property damage than for unpaid rent or utilities.
If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.In addition to covering costs at the end of the tenancy, security deposits are also a useful way to measure if a tenant is responsible with their money.Landlords often collect a security deposit to see if tenants have been able to accrue savings to pay the full security amount. a check delivered now with a written date in the future, so that it cannot be cashed until that date.The danger to the recipient is that such a check is legally only a promissory note due at the later date, and if the account is closed or short when the check is presented at the bank, the payee has no rights to demand payment by the bank or claim that the delivery of a bad check was criminal.Therefore, the protections offered to creditors under the various "bad check" laws may not apply.