SB3530

Illinois SB3530 amends the Landlord and Tenant Act to limit security deposits and rent increases for primary residences.

Illinois SB3530 amends the Landlord and Tenant Act by limiting the total amount of a security deposit to the first full month's rent for a tenant's primary residence. It allows landlords to charge a security deposit only upon the signing of an initial lease agreement and prohibits additional charges or increases upon lease renewal or rent increases. The bill also restricts rent increases to no more than 3.5% in a 12-month period for primary residences.