What are the landlord-tenant laws in Mount Prospect, Illinois?

Mount Prospect landlords must follow Illinois state law covering security deposits (capped at 2 month(s) of rent, returned within 30 days), eviction notice requirements, rent increase rules. Violations can result in penalties of $3,562+.

What is the maximum security deposit in Mount Prospect?

Mount Prospect landlords can charge up to 2 month(s) of rent as a security deposit. At the median 2BR rent of $1,781/month, the maximum deposit is $3,562. The deposit must be returned within 30 days after move-out.

How much notice is required for rent increases in Mount Prospect?

Landlords must provide 30 days' written notice before raising rent. Failure to comply can void the increase.

Mount Prospect · Illinois

Mount Prospect, IL Landlord Laws 2026

Every housing law that applies to Mount Prospect landlords — security deposits, eviction rules, rent increases, and more. Updated for 2026.

Based on Illinois state law.

Mount Prospect Rental Market in 2026

$1,781

median 2BR rent

54,298

population

$3,562

max security deposit

Mount Prospect landlords must comply with Illinois state landlord-tenant laws. At a median 2-bedroom rent of $1,781/month, understanding deposit caps, notice periods, and eviction rules can save you thousands in penalties.

Local Housing Market Data

The HUD Fair Market Rent for a 2-bedroom in Mount Prospect is $1,781/month, which affects Section 8 voucher amounts and affordable housing calculations.

Key Takeaways for Mount Prospect Landlords

Security deposit: Capped at 2 month(s) of rent ($3,562 at median rent). Must return within 30 days or face penalties up to $3,562.

Illinois Laws That Apply in Mount Prospect

Illinois Landlord and Tenant Act

765 ILCS 705 et seq.

Statewide law governing landlord-tenant relationships, including security deposits with interest requirements.

Illinois Security Deposit Return Act

765 ILCS 710

Requires itemized statements for deductions and return within 30 days.

Chicago Residential Landlord and Tenant Ordinance (RLTO)

Chicago Mun. Code §5-12

Extensive local ordinance with additional tenant protections for Chicago properties, including deposit limits, late fee caps, and mandatory disclosures.

Mount Prospect Landlord Law Topics

Click any topic below for detailed Mount Prospect-specific rules, deadlines, penalties, and free compliance tools.