Resource Guide: Security Deposits Chicago Renters' Resource Guide, Chapter 12

This chapter of the Chicago Renters' Resource Guide provides an overview of security deposits. When you rent an apartment, the landlord almost always ask for a security deposit. This is a sum of money that the landlord holds to cover any damage that may occur while you are living in the apartment. Although the landlord holds it, a security deposit remains the property of the tenant. The security deposit may be used only for damages that make the apartment un-rentable. The Chicago Residential Landlord and Tenant Ordinance (RLTO) includes several regulations concerning security deposits.