RLTO in Practice

RLTO Interest Rates

Illinois Deposit Cases

ILLINOIS SUPREME COURT

Landis v MARC Realty LLC (2009)

VG Marina Mgmt. Corp. v. Wiener  (2007)

Lawrence v Regent Realty  (2001)

Dobbins v. Duquid  (1872)

ILLINOIS COURTS OF APPEAL

Berven v. Marquette Bank & Trust (2009)

Willis v. NAICO Real Estate (2008)

VG Marina Mgmt. Corp. v. Wiener  (2007, 2008)

Detrana v. Such  (2006)

Krawczyk v. Livaditis (2006)

Allen v. Lin  (2005)

Turner v. 1212 S. Mich. P'ship  (2005)

Starr v. Gay  (2004)

Sternic v. Hunter Properties (2003)

Pitts v. Holt (1999)

Namur v. The Habitat Company (1998)

American National Bank v. Powell  (1997)

Szpila v. Burke (1996)

Plambeck v.Greystone Management  (1996)

Friedman v. Krupp (1996)

Spiegel v. Hollywood Towers Cond. Assoc.  (1996)

Meyer v. Cohen (1993)

Solomon v. American Nat'l Bank and Trust Co.  (1993)

Reed v. Burns (1992)

Fun Fact:  Jay Strauss and Regent Realty in the news 8 years later

Lawrence v. Regent Realty Group, Inc., 197 Ill. 2d 1, 9-10 (2001)

Great case for Tenants.  Here the renter was not paid interest on their pet deposit every 12 months.  Instead, the tenant was paid interest after the tenant moved out after a multi-year rental.  The Supreme Court said it didn't matter whether the landlord knew it was breaking the law.  The tenant was entitled to damages equal to double the full security deposit plus costs and attorney fees because interest has to be paid "within 30 days of the end of each 12-month rental period."  The Court went on to state that there are "no exceptions."

"Nothing in section 5-12-080(f) requires proof that the landlord's actions were knowing or willful. A landlord's duty to comply with the statute is absolute. If a landlord requires a security deposit, the landlord is required to pay the tenant interest on that deposit. If he fails to do so, he is liable to the tenant for the damages specified in the ordinance. There are no exceptions. Where a statute is clear and unambiguous, as this one is, the court should not look to extrinsic aids for construction."

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