Security Deposit Interest Letter

Letter for Security Deposit Interest Sample Letter for Security Deposit Interest

P. 7

Can only be used by residents of buildings covered by the Chicago Residential Landlord-Tenant Ordinance

_________________(Date) _____________________________(Landlord _____________________________name & _____________________________ address) Dear ________________________, I am writing to you concerning the payment of interest on my security deposit. As you are probably aware, the law requires that landlord's pay interest each year at the rate set by the City Comptroller for security deposits held more than six months. (Excluding only owneroccupied six-flats or less.) The interest must be paid each year within 30 days of the anniversary of the rental agreement. The law says that if the landlord fails to pay this interest, the court can order the landlord to pay this interest plus twice the amount of the security deposit, plus court costs and lawyer's fees. in interest on my deposit of $ I have calculated that you owe me a total of $ for the past year (or years). I will expect to receive a check for this amount by ( a date at least 30 days after the anniversary of the lease) or I will deduct this amount from my next months rent. Thank you for your cooperation. Sincerely, _________________________Name & _________________________Address _________________________ Remember to make copies and send by certified mail. Sample letter published by the Metropolitan Tenants Organization,1180 N. Milwaukee Ave.,Chicago, IL 60622 (773) 292-4988