7601 North Eastlake
Chicago, IL 60626-1421
Office(773)465-7500
Fax(773) 465-7755


Date__________________


Dear _________________________________
        _________________________________,

This letter is just a friendly reminder about the status of your rent account.

A review of our records indicates that you have a large, unused rent credit.

As you know, at the end of each lease year we calculate the interest due to you on your Security Deposit. At that time we mail a letter* to you detailing our arithmetic and explaining the options available to you for receipt of your money. Normally, your interest is available to you as either an immediate direct cash payment or as a credit against your monthly rent due.

In the absence of a response to that letter or a specific request from you for a cash payment, we apply your interest toward your monthly rent due account. We always include an encouragement to use the credit as soon as possible.

If you do not use your rent credit in the month after it becomes available, it will remain on your account from month to month and will accumulate from year to year.

Please remember, your interest credit will always be your property and will be available to you at any time, upon demand.

Your total accumulated Security Deposit interest rent credit is $__________________.

If you decide to use this credit now, please deduct the above amount from your next month’s regular rent payment. If not, you can ignore this letter and know that your interest credit will be added to any other unused rent credit you may have and will carry forward for another year.

Do not hesitate to call if you have any questions.

Sincerely,

Michael Lee
Lee Street Management

 

* We have copies of all tenant correspondence in our files. A duplicate of any document is available to you upon written request.