The LPA Newsletter, Top 10 Landlord Goof-Ups

Dear Fellow Landlord,

What if you could save yourself from some very bad experiences and many thousands of dollars simply because I made some embarrassing mistakes and told you about them? They say the best lessons come from painful, costly experiences. No one ever said it had to be your pain. You can learn lessons through OPE (other people's experience), so that you can avoid these problems in your life. Below, I share some of my "Goof-Ups" to put it lightly. I hope you like it.

In this newsletter:

• My Top 10 Landlord Goof-Ups
  
• Free Tenant Screening Form
  
• Ask the Attorney, Real Estate Attorney, John Reno
  
• "Where's the RENT?! Excuses
  

Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month and an even more successful year ahead.
John Nuzzolese
John@theLPA.com

"95% of tenant problems can be eliminated in the screening process." - John Nuzzolese

If I shared all my mistakes as a landlord in one article, you'd get tired of reading it before the first hour, so I'm limiting it to only ten big mistakes that made me want to kick myself. Some of my mistakes are very common to many landlords, but most are the result of me trusting the wrong people. In this business of being a landlord, we eventually learn that trust has to be earned. We just shouldn't trust everyone we meet.

Below I've listed "10 Landlord Mistakes to Avoid" that happened to be important lessons for me in becoming a better Landlord!
I made most of these screw-ups many years ago, but some are easy to repeat in a bad rental market. That is why I still say, "Nerves of steel- It is better to have NO tenant than a BAD tenant."

1. I failed to check the tenant's ID!
   I knew something was wrong when the rent for the second month was a challenge to collect. After a few months I learned the tenant's real name from a neighbor! I knew God loved me when he was arrested in another state by the FBI for fraud. His wife wanted to stay off the grid and took off quickly.
2. I skipped the credit report!
   They seemed like they had it all together. Well dressed, nice car, the application checked out... (Trust me. Don't skip the credit check.)
3. I trusted a fellow landlord and Realtor
   who "vouched" for the tenant! - Now whenever a fellow landlord or Realtor "vouches" for a tenant, I ask them if they will be comfortable co-signing. Trusting a fellow Realtor? I should have known better. No offense to the many hard working honest fellow Realtors out there!
4. I allowed a tenant to do home improvements.
   Just because someone tells you he is "handy", doesn't mean he really is. I still have nightmares about the unauthorized homemade shower stall in the front coat closet... hose...linoleum...holes drilled draining into the basement... aaaaah!
5. I didn't increase the rent for fear of "rocking the boat"!
   Even a small modest rent increase like $10. is better than none at all. In fact, if you are determined to do NO increase, at least send an increase letter to make a point that because of rising carrying costs, there should have been an increase but you are forgoing the increase because of their fine tenant performance.
6. I waived the late fee!
   Just trying to be friendly and avoid confrontations. Build a good landlord tenant relationship... Ha! What a fool I was! You've got to read my article on collecting late fees from tenants who won't voluntarily pay it....

Pre-Screening Prospect Card

This handy prospect card gets you the pre-screening answers that you need to know before deciding whether or not to set an appointment with a prospective tenant.
Be sure to check out The LPA's Pre-screening Tenant Prospect Card html code to insert into online ads like Craigslist or The LPA's Rentals Available.

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).
(Mention The LPA for a 10% discount!)

Dear Mr. Reno:
My question- My renter recently died. When he signed the lease 7 years ago, he listed his daughter as living in the house. She is now 21. They are two months behind in the rent. Her sister wants to know if the 21 year old is liable for the unpaid rent or if the deceased tenant's estate is liable. Also, do I need an eviction notice if she was not an adult on the lease agreement? Thank you.
Nicole, KY

A: She's not a signatory & therefore not liable, but can be evicted for non-pay. Get going.

If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
Submit a landlord / tenant question for Mr. Reno
Please try to keep your questions as short and to the point as possible.

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.
On the brighter side, remedies are available for many. If you have documented your tenancy with the proper paperwork including a rental application, lease agreement, late notices, etc., you may have a chance of collecting.

Credit bureau reporting is an option in which many modern landlords are beginning to participate.

The LPA recommends tenant and credit reporting to our members.As landlords ourselves, we do not believe tenants should get away "Scott Free" for leaving their landlord with a mess of unpaid rent, damages and other unpaid responsibilities. The prospect of reporting delinquent rent onto the tenant's credit record creates an incentive for the tenant to preserve his good credit, or to clean it up in order to some day qualify for a loan or mortgage.

A delinquent landlord debt is a serious mark against a consumer tenant's credit report for seven years and will likely:

The LPA's other reporting options

For The LPA's Tenant Reporting, click here

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Where's the RENT? Tenant Excuses

"I paid you already. I came to your house and gave the cash to somebody." I live alone. When asked, he couldn't tell me where I live. Only stutters. - Mitch Butler, CA

"We heard you were going to be away for a couple of months, so we figured we'd give it to you when you get back." My 3rd grade son mentioned in school that we may be going to Disney World. He'd like to stay there for a "couple of months". The brilliant Tenant's son overheard. - Marshall M., NY

"Just because you are aaaaasking for it .....AGAAAAIN- doesn't mean I'm gonna have it OK!?" I'm not even going to bother with a witty comment. My lawyer is serving eviction papers to this annoying thing. - Jack, NY

"I left the house, am getting married and leaving the country, so I'm not paying the rent." What he really meant to say was he's on the run from the law because he used the house as a drug stash house, 2054 lbs of pot. With my help he's now in jail. - Ken F.

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