Security Deposit Receipt For Apartments

Security Deposit Receipt For Apartments

If you're a Chicago landlord with an apartment for rent governed by the Chicago Residential Landlord and Tenant Ordinance (the CRLTO or RLTO), you're required to provide your tenants with a security deposit receipt (or rental deposit receipt).  This rental deposit receipt must contain an identification of the apartment for rent being leased, the amount of the security deposit, the date the security deposit was received, and the name and signature of the owner or agent who received it. Failure to provide the tenant this simple sheet of paper can have dire and costly consequences, as explained in our Landlord’s Guide to Security Deposits. Our security deposit receipt, if completed fully and delivered to your tenants, will protect you against costly litigation.

The CRLTO encompasses most Chicago apartments for rent, although the most common exception extends to owner-occupied apartment buildings of six units or less. (The types of Chicago apartment landlords exempted from the CRLTO are identified in Chapter 5, Section 12-020, of the Chicago Municipal Code.)