What are the laws governing the return of a security deposit after a tenant moves out?

In the state of Illinois, there are laws that govern the return of a security deposit from a landlord to a tenant after a tenant moves out. The Illinois Security Deposit Return Act outlines the rights and responsibilities of both the landlord and the tenant when it comes to the return of a security deposit. According to this act, the landlord must return the security deposit to the tenant within 45 days after the tenant moves out. The landlord must also provide the tenant with a written statement including any deductions from the security deposit, such as unpaid rent or damages, within the same time frame. If the landlord fails to do this, they may be liable for double the amount of the security deposit. The landlord is also required to give the tenant an itemized list of damages that have occurred and how much each damage will cost to repair. This list must include the estimated costs of the repairs and any labor costs that are incurred. The landlord is only allowed to deduct an amount equal to the estimated costs of repairs and labor from the security deposit. In order to receive their security deposit on time, it is important for the tenant to provide their landlord with a forwarding address and all payment records. Tenants should also keep track of the condition of the property when they move in and take pictures or videos as proof of any damage that occurred during the tenancy. Overall, the Illinois Security Deposit Return Act ensures that tenants receive their security deposits in a timely manner, and that landlords are held responsible for any damages that occur during the tenancy.

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What are the laws governing the return of a security deposit after a tenant moves out?

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