(a) A receipt for a security deposit shall notify the tenant of the following:
(1) The right to have the dwelling unit inspected by the landlord in the tenant’s presence for the purpose of making a written list of damages that exist at the commencement of the tenancy if the tenant so requests by certified mail within 15 days of the tenant’s occupancy;
(2) The right to be present when the landlord inspects the premises at the end of the tenancy in order to determine if any damage was done to the premises if the tenant notifies the landlord by certified mail at least 15 days prior to the date of the tenant’s intended move, of the tenant’s intention to move, the date of moving, and the tenant’s new address;
(3) The landlord’s obligation to conduct the inspection within 5 days before or after the tenant’s stated date of intended moving;
(4) The landlord’s obligation to notify the tenant in writing of the date of the inspection;
(5) The tenant’s right to receive, by first–class mail, delivered to the last known address of the tenant, a written list of the charges against the security deposit claimed by the landlord and the actual costs, within 45 days after the termination of the tenancy;
(6) The obligation of the landlord to return any unused portion of the security deposit, by first–class mail, addressed to the tenant’s last known address within 45 days after the termination of the tenancy; and
(7) A statement that failure of the landlord to comply with the security deposit law may result in the landlord being liable to the tenant for a penalty of up to 3 times the security deposit withheld, plus reasonable attorney’s fees.
(b) The landlord shall retain a copy of the receipt for a period of 2 years after the termination of the tenancy, abandonment of the premises, or eviction of the tenant, as the case may be.
(c) The landlord shall be liable to the tenant in the sum of $25 if the landlord fails to provide a written receipt for the security deposit.