Chicago, Ill., Mun. Code ch. 5-12 § 5-12-082
Interest rate notification (Chicago Residential Landlord and Tenant Ordinance (RLTO))
Operative Text
The city comptroller, after computing the rate of interest on security deposit governed by this chapter, shall cause the new rate of security deposit interest to be published for five consecutive business days in two or more newspapers of general circulation in the city. The mayor shall direct the appropriate city department to prepare and publish for free public distribution at government offices, libraries, schools and community organizations, a pamphlet or brochure describing the respective rights, obligations and remedies of landlords and tenants with respect to security deposits, including the new interest rate as well as the interest rate for each of the prior two years. The commissioner shall also distribute the new rate of security deposit interest, as well as the interest rate for each of the prior two years, through public service announcements to all radio and television outlets broadcasting in the city. (Added Coun. J. 5-14-97, p. 45166)
Section 5-12-082 of the Chicago Municipal Code establishes a public notification process for the annual security deposit interest rate. Once the city comptroller calculates the applicable rate, it must be published in at least two widely circulated Chicago newspapers for five consecutive business days. The mayor's office is also required to produce a free pamphlet or brochure—distributed at government offices, libraries, schools, and community organizations—that outlines landlord and tenant rights regarding security deposits, including the current rate and the rates from the prior two years. Additionally, the commissioner must disseminate the rate through public service announcements on radio and television stations broadcasting in Chicago.
Plain English — not legal advice.
Under § 5-12-082, the city takes responsibility for publicizing the security deposit interest rate through newspapers, printed materials, and broadcast announcements, so landlords do not need to independently calculate or announce the rate from scratch. Compliant property owners and managers typically monitor these official publications—newspapers, city-distributed pamphlets, and public service announcements—to stay current on the applicable rate each year. Keeping a record of the rates for the current year and the prior two years, as distributed under § 5-12-082, supports accurate accounting of interest owed on tenant security deposits.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Section 5-12-082 gives tenants multiple free, publicly accessible ways to learn the current security deposit interest rate: through newspaper publications, pamphlets available at libraries, schools, and government offices, and radio or television announcements. Tenants who are uncertain about whether their landlord has applied the correct interest rate can consult these city-distributed resources to verify the figures for the current year and the two preceding years. If a discrepancy is identified, tenants may consider reaching out to a local tenant-rights organization or reviewing other provisions of Chapter 5-12 to understand available remedies.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 14, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
Effective Timeline
References Out
No outbound references recorded yet for this provision.
References In
No inbound references recorded yet for this provision.