Leasing License Practice Exam

When is a landlord required to return a security deposit according to the Illinois Security Deposit Return Act?

1. Immediately upon lease termination

2. Within 30 days after move-out

3. After one year

4. Upon a written request from the tenant

The correct answer is: Within 30 days after move-out

The Illinois Security Deposit Return Act mandates that a landlord must return a security deposit within a specified timeframe following a tenant's move-out. The correct answer reflects that landlords are required to return the security deposit within 30 days of the tenant vacating the property. This time frame allows landlords to conduct necessary inspections and determine if any deductions need to be made for damages or unpaid rent before returning the remaining amount to the tenant. The requirement to do so within 30 days is in place to protect tenants, ensuring they receive their deposits in a timely manner, promoting fair housing practices. The other options are not aligned with the Act’s stipulation. Immediate return upon lease termination does not account for necessary inspections or potential deductions, while returning the deposit after one year would be excessively delayed and violate the tenant's rights. Lastly, requiring a written request from the tenant implies an obligation on the tenant's part that the law does not impose; landlords are proactive in returning deposits within the designated timeframe.