Legal Question in Landlord & Tenant Law in Illinois

Security Deposit
This is my second year in a condo complex. The security deposit for the first year was $500. At this time, the company was managed, but not owned, by Robeson Real Estate. The owner of my condo decided to take over management, and Robeson tranferred my security deposit to her. At some point, Capstone Inc. tookover management of the complex and the owner of my condo gave up management rights to them, but did not transfer my security deposit to them. Upon resigning my lease for the current year, I was told that the security deposit is now $99 and that I would be refunded $401. However, Capstone Inc. says that there are not liable for my security deposit since another company was managing my unit at the time of orginal lease. How can this be? It seems to me that Capstone should be liable to me for the $401 and have the responsibility of retrieving funds from the owner of my condo instead of me having to contact the owner myself. The check I wrote was to the complex, not the owner. Am I wrong?

Asked on 11/26/07, 5:11 pm

Mary McDonagh McDonagh-Faherty Law Offices

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Re: Security Deposit

No, you seem to be right - any new management companies must take over the leases as originally signed including the rights to security deposits.

Answered on 11/28/07, 11:56 am

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