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Top 10 Landlord Resolutions for 2007(As suggested by theLPA.com)
- Become an expert at Tenant Screening. No more bad tenants!
Use the LPA Rental Application for all applicants – even if they are recommended by friends! Remember, "The best way to avoid tenant problems is to avoid problem tenants."
- Fill that vacancy with good tenants.
Have access to credit reports
- Get rid of my bad tenants. No more procrastinating! Solving these problems sooner rather than later will save me a ton of money. I can choose from a few different forms to terminate a bad tenancy:
- Find the right Landlord Attorney for me. A good landlord attorney will make evictions much faster and easier. I’ll be a more powerful landlord.
- Enforce or increase late fees. For it to be effective in encouraging timely payments, tenants must feel the cost of a late charge.
Late Charge Due Notice
Urgent Late Notice
- Tackle that list of repairs or improvements – Remember Quality tenants are willing to pay a little more for a quality place.
- Keep a professional arm’s length from tenants. No more being chummy with tenants! This is a business, not a hobby. “Familiarity breeds contempt.”
- Increase rents on those under paying units. Increase cash flow.
- Join a Landlord support group like the LPA and / or a local association. Why not have powerful landlord tools and support on your side?
- Let tenants know I report late payments to a national tenant reporting bureau. If they want to maintain good credit in order to buy a home someday, a good rent payment record will help. The LPA site offers 4 options of tenant reporting:
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