The itemized statement Illinois requires when you keep any part of a deposit — due within 30 days under 765 ILCS 710/1 — generated from the deposit settlement in your ledger, with every deduction, the refund, the interest and the statute already in it.
Pick the situation; the rule on each card is Illinois's statutory minimum — your lease can be more generous to the tenant, never less.
765 ILCS 710/130 days with deductions; 45 days without (buildings of 5+ units) (765 ILCS 710/1).
Unpaid rent and charges the lease allows, and damage beyond normal wear and tear. Not routine cleaning, repainting, or carpet wear from ordinary use. Each deduction must be itemized with receipts.
No — Illinois sets no statutory maximum on a residential security deposit; the lease sets the amount.
Yes for 25+ units when held more than six months (765 ILCS 715).
The statement shows the balance owed and the tenant is liable for it. The in-app settlement posts the difference to accounts receivable so it is not forgotten.
Illinois landlord-tenant laws · Illinois lease template · Deposit return letters for all 50 states
Deductions, refund, deadline and the statute filled in from your ledger. Free.
Deadlines and rules are Illinois's statutory minimums as of 2026, reviewed against Illinois Compiled Statutes, Chapter 765 (Landlord and Tenant). General information for landlords, not legal advice; local ordinances can add requirements.