TO: ________________________________________________ Date: _________

Address: ________________________________________________

Due to increasing taxes and other carrying charges, we must advise you of a ______% annual rent increase. Accordingly, please be advised that your new rent amount as of ___________, 20_____ will be $_________ per month.

If this renewal option agreement is signed and returned by ________________, your lease will be extended, making the new expiration date ___________________, and will continue with the same notice periods, terms, conditions and discounts as stated in your original lease.

In order to keep your security deposit up to date, an additional $__________ is required. This will be due with your ___________________ rent payment.

Please check off one of the following options and return a copy of this letter to our office in the envelope provided by _____________________ so that we may process your request.

[ ] Yes, I/We want to exercise our option to renew our lease for an additional year.

[ ] I/We wish to vacate the premises before ____________________. We agree to follow the terms in our lease concerning vacating and re-rental

Tenant X_____________________ Date: ________________

Tenant X_____________________ Date: ________________