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How to use or fill out Landlord Tenant Closing Statement to Reconcile Security Deposit - Illinois with our platform

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Click ‘Get Form’ to open the Landlord Tenant Closing Statement in the editor.
Begin by entering the Landlord's name and the leased premises address at the top of the form. This information is crucial for identifying the parties involved.
Fill in the tenant's information, including their name(s), forwarding address, and new phone number. Accurate contact details ensure smooth communication.
Next, input the security deposit amount paid, along with any other deposits and rent credits. This section summarizes financial transactions related to the lease.
Detail any charges against the deposit, such as cleaning charges, damage repairs, unpaid rent, uncollected late charges, and interest. Be thorough to avoid disputes.
Calculate total charges and determine amounts due to both tenant and landlord. Ensure all figures are accurate for a clear reconciliation.
Finally, sign and date the document before delivering it to the tenant. If applicable, include any checks or payment details.

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What is the security deposit law in Illinois?

The Illinois Security Deposit Return Act requires your landlord to return your security deposit in full within 45 days of the date you moved, if: Your building or complex consists of five or more units. You do not owe any back rent. You have not damaged the rental unit.

How to write a letter to get security deposit back?

In the USA, landlords generally cannot deduct for normal wear and tear from your security deposit. Normal wear and tear refers to the natural deterioration of a property that occurs over time due to regular use, such as minor scuffs on walls or worn carpet.

What are the rules for security deposits in Illinois?

What to Include in a Security Deposit Demand Letter the address of your rental and the dates you rented from. how much you paid for a security deposit. why you are entitled to a return of a portion or all of the deposit. the state laws that require a return of the deposit in a timely manner.

Can a landlord deduct cleaning from a security deposit in Illinois?

Yes, a landlord in Illinois can deduct cleaning costs from the security deposit if the cleaning is necessary to return the property to the same level of cleanliness as when the tenant moved in, beyond what is considered normal wear and tear.

What is the security deposit law in Illinois 2025?

In most cases, an Illinois landlord has up to 45 days once the tenant left the property to return the security deposit. Landlords can either send written notice personally or via postmarked email directed to the tenants forwarding address or last known address in general.