Landlord Newsletter July, 2012 |
Dear Fellow Landlord, In this newsletter:
Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month!
4 Simple Tenant Screening Steps... before spending the money on a credit report: The Landlord Protection Agency® suggests the following simple steps to take before you spend any money on credit reports:
If you feel confident the tenant passed all your screening inquiries so far, run a credit report with a major credit bureau to review the prospect’s credit history on the payment of bills, delinquencies, address history, employment history and judgments. Remember: "It's better to have no tenant than a bad tenant."
Paying Rent and Building Credit
Experian, the leading global information services company, announced that it has extended its capability to accept rental payment data from individual landlords and property managers through its new collaboration with ClearNow®. ClearNow offers a low-cost and easy solution for collecting and making payments electronically and automatically. Experian, through its RentBureau business, currently receives rental payment data from more than 3,000 apartment communities, most of which are managed by large property management companies. Whether a renter lives in a large apartment complex or rents from a landlord that only manages one property, Experian now will provide an opportunity for all renters to build credit history through rental payments. "We’re thrilled to offer a simple way for many responsible Americans to get the credit they deserve by making their rental payments as agreed," said Steven Wagner, president, Experian Consumer Information Services. "In the past year, we have led the industry in helping renters build credit history, and with the latest collaboration with ClearNow, we are achieving another major milestone." ClearNow allows landlords and property managers to electronically collect rent from their tenants via an automatic bank account debit. This relationship will allow renters to enjoy the convenience of automating their rent payment, which can help avoid late payments, and opt in to reporting their rent payment history to Experian RentBureau. Experian currently includes rental payments on its credit reports which helps many responsible renters build credit history. Settlement Charges Guide Notice to Renew Lease or Vacate
Alerts the tenant before or after tenancy what kind of move-out charges he or she can expect for damages, cleaning or neglect caused as a result of tenant's occupancy. Some landlords send this form along with the Security Deposit Settlement to show how certain deductions from the security were calculated. What many tenants consider "normal wear & tear" are really damages and neglect that they should pay for.
The Landlord Protection Agency® presents John Reno, Esq., a highly experienced Landlord - Tenant attorney based on Long Island, NY.
John Reno also does Mortgage Loan Modifications (Nationwide). Dear Mr. Reno: A: Yes. You're off to small claims court. If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question. "You think you know someone? You don't really know them until they've rented from you." - John Nuzzolese, TheLPA.com "Time is more valuable than money. You can get more money, but you cannot get more time." - Jim Rohn "Poverty is when large efforts produce small results. Wealth is when small efforts produce large results." - David George "We are what we repeatedly do. Excellence, therefore, is not an act, but a habit." - Aristotle "How much did your last tenant problem cost you?" - John Nuzzolese, The Landlord Protection Agency
If you haven't already, please take the opportunity to sign up for The LPA's Quick Check Credit Reports! Quick Check is a simple, fast way to access online credit reports while saving you money! See our price list!
(LPA Members Only) Have you ever been beaten by a tenant on the rent? Most of us have and unfortunately, it is one of the costs of doing business as a landlord.
Credit bureau reporting is an option in which many modern landlords are beginning to participate.... Click here for the full article
Take Advantage of our low Renewal Prices! How to Check your LPA Membership Expiration Date:
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