HB4998

Illinois HB4998 establishes standardized protections for residential tenants, limiting fees and deposits.

HB4998, known as the Standardized Protections for Residential Tenants Act, sets limits on fees and deposits for tenants in Illinois. It prohibits landlords from requiring a deposit or advance exceeding one month's rent, except for seasonal use dwelling units or owner-occupied cooperative apartments. The act also restricts application fees to a maximum of $20 and mandates that landlords inform tenants of this limit. Additionally, it limits late payment fees for rent to $50 or 5% of the monthly rent, whichever is less, and voids any agreements that waive these rights.