The Lease Security Program supports residential, commercial or mixed-use buildings. Bank Leumi USA's program:
- Enables property owners to fulfill their legal requirements concerning lease security deposits
- Relieves the property owner from cumbersome recordkeeping of interest payments and producing IRS 1099 forms
- Allows interest payments to be redeposited to the tenant's account or interest checks be issued
- Automatically credits a managing fee (as prescribed by law) to the property owner's account at the end of each calendar year when the interest for each tenant is disbursed
On a monthly basis, the property owner (or his designee) receives a computer printout on each property containing the following data:
- Owner / Agent name
- Building address
- Apartment number
- Tenant account number
- Tenant name
- Social Security Number
- Date opened
- Current balance
- Security deposit
- Undisbursed tenant interest
- Accrued agent interest
- YTD interest tenant
- Tenant withholding
- Building summary totals
- Landlord summary totals for all buildings
For more information please contact our Custom Business Services department at (917) 542-2174.
|
|
