HomeMy WebLinkAboutORDINANCES-1989-022-O-892-14-89
3-09-89
3-21-89
3-22-89
-- 6-27-89
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AN ORDINANCE
Amending Section 5-3-5-1(A) of the Landlord
And Tenant Regulations Ordinance
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
• EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That Section 5-3-5-1(A) of the Evanston
City Code of 1979, as amended, the
"Landlord and Tenant Regulation" Ordinance, be and it hereby is
further amended to read as follows:
5-3-5-1 A: DEPOSITS AND PREPAID RENT: A landlord
may not demand or receive security or
prepaid rent or any combination thereof in an amount in
excess of one and one-half (1-Z) months' rent; provided,
however, that rent paid on the first day of the month or
upon any other day mutually agreed upon by the parties,
due and payable in advance for that month, shall not be
construed herein as either security or prepaid rent and
therefore shall not be included in the computation of the
aforesaid one and one-half (1-Z) months' rent. The tenant
shall pay the landlord, at the time the tenant moves into
the premises or at any other time mutually agreed upon by
the parties, the amount of the security or prepaid rent
required by the landlord. However, if the landlord
requires a security deposit or prepaid rent in excess of
one month's rent, but not exceeding one and one-half (1-2)
months' rent, that portion in excess of one month's rent
at the election of the tenant, shall be paid either at the
• time the tenant pays the initial security deposit, or
shall be paid in no more than six equal installments no
later than six months after the effective date of the
lease. Interest on that portion of a security deposit or
prepaid rent exceeding one month's rent, if paid in
installments, shall not be computed until all installments
are paid to the landlord.
SECTION 2: That Section 5-3-5-1(B) of the
Evanston City Code of 1979, as amended,
be and it is hereby further amended to read as follows:
5-3-5-1 B: The landlord who receives security or
prepaid rent from a tenant shall pay interest to the
tenant computed from the date of deposit at a rate of four
percent (4%) per year, and five percent (5%) per year
after January 1, 1976, and within thirty (30) days after
_ the end of each twelve (12) month rental period, pay to
the tenant any such interest by cash or credit to be
applied to rent due, except when the tenant is in default
under the terms of the rental agreement. Interest on that
portion of a security deposit or prepaid rent exceeding
one month's rent, if paid in installments, shall not be
computed until all installments are paid to the landlord.
• SECTION 3: All ordinances or parts of ordinances
in conflict herewith are hereby repealed.
SECTION 4: This ordinance shall be in full force
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•
and effect from and after its passage,
lapproval, andZlz11'LAul
blication in the manner provided by law.
Introduced: "'3 1989.
I Adopted: :�.L�c� �_� 1989.
4 �
Approved: e,(-,c/
ATTEST:
I __�
` City Clerk
Appro d as t/b Xorm:
I
I Corporation Counsel
I
i
I
-2-
Mayor