Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
7y
Many Chicago landlords are opting not to charge any security deposit. Sounds crazy, but the compliance laws are very difficult. If there is ever an eviction, and you trip up on a security deposit provision, it creates trouble. So non refundable move in fees are charged.
I have never considered accepting any applicant that does not pass my strict screening standards. How desperate does a landlord have to be to place their business at risk. I never need financial insurance for allowing unqualified applicant.