Oak Park Title 12 Residential Rental Licensing (Arts. 2, 4, 6) § 12-4-4
TIME FOR PAYMENT
Operative Text
The lessor shall, within thirty (30) days after the end of each twelve (12) month rental period, pay to the lessee any interest, by cash or credit to be applied to rent due, except when the lessee is in default under the terms of the lease. (Ord. 1993-0-100, 12-6-1993; amd. Ord. 15-184, 11-2-2015, eff. 12-1-2015)
Under Oak Park Title 12 § 12-4-4, landlords are required to pay accrued interest on security deposits to tenants within 30 days after the end of each 12-month rental period. Payment may be made either in cash or as a credit applied toward rent. This obligation does not apply when the tenant is in default under the terms of the lease.
Plain English — not legal advice.
Under § 12-4-4, compliant operators track each tenancy's 12-month rental period and ensure that any accrued interest on security deposits is paid out—either as a cash payment or a rent credit—within 30 days of that period's end. Maintaining clear records of rental period start and end dates, interest calculations, and payment method helps demonstrate compliance. The exception for tenants in default should be documented carefully, as the basis for withholding interest may need to be substantiated.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Section 12-4-4 of Oak Park Title 12 gives tenants the right to receive interest on their security deposit within 30 days after each 12-month rental period ends, unless they are in default on the lease. If a landlord fails to make this payment on time, tenants may have grounds to raise the violation as a defense in related proceedings or pursue a complaint through Oak Park's municipal enforcement channels. Tenant-rights organizations familiar with Oak Park ordinances can help explain what options are generally available under this provision.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated November 10, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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