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Landlord Newsletter January 2007

The LPA Newsletter, January 2007


HAPPY NEW YEAR !

Dear Fellow Landlord,

The New Year is here now and it will be gone in less than 12 months whether we accomplish anything or not. That statement reminds me of a quote by Dr. Denis Waitley, "If it is to be, it is up to me." We have some great opportunities in the year ahead in the area of real estate investing and also in the landlord department. Many of us will be adding properties to our collection, but it is also important to continue strengthening your landlord operation. That is why I put together a few landlord resolutions for 2007.

In this newsletter:

  • The Top 10 Landlord Resolutions for 2007
  • A Free Lease clause that has helped me more times than I can count.
  • New LPA Feature: The ability to download Essential Forms in alternate word processing formats and lettersized versions was a much needed new feature for members the LPA. Now you can access all our forms the format of your choice.
  • More tenant Excuses
  • More Success Quotes
  • If you missed the Free Downloads and Articles of our last newsletter, click here for all our Free Forms

    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

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    Top 10 Landlord Resolutions for 2007

    (As suggested by theLPA.com)

    1. 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."

    2. Fill that vacancy with good tenants. Have access to credit reports

    3. 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:

    4. 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.

    5. Enforce or increase late fees. For it to be effective in encouraging timely payments, tenants must feel the cost of a late charge.

    6. Tackle that list of repairs or improvements – Remember Quality tenants are willing to pay a little more for a quality place.

    7. Keep a professional arm’s length from tenants. No more being chummy with tenants! This is a business, not a hobby. "Familiarity breeds contempt."

    8. Increase rents on those under paying units. Increase cash flow.

    9. Join a Landlord support group like the LPA and / or a local association. Why not have powerful landlord tools and support on your side?

    10. 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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    Access alternate formats and letter sized versions of the forms yourself!

    NEW Feature for LPA Members Only!

    Alternate Formats of LPA Essential Landlord Forms,
    Now you can download alternate word processing formats if you don't have MS Word including letter size versions!


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    FREE Lease Clause
    (as included in The LPA Lease)
    Tenant Pays Attorney's Fees

    I am surprised at how many landlords do not have a clause in their lease addressing the issue of attorney's fees and collection, in case of a default by the tenant.

    Here is the clause to insert into your lease agreement, that will make your legal fees and collection expenses the tenant's responsibility. If you are using The LPA Lease, this clause is already included in your lease.
    "This simple clause has saved me thousands of dollars !" - John Nuzzolese

    By having these costs classified as "added rent", the same way we classify late fees as "added rent", a court will more easily grant a full judgment to the landlord for all past due charges, such as owed rent, late fees and legal fees.

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    Tenant Excuses


    "Can I use my credit card to pay my rent? I want to build up reward points on my card." - When I told him I don't take credit cards he refused to pay. What does he think I am - Walmart? - Joey B., Uniondale, NY

    "The A/C is broken again." - The tenant was required to maintain a service contract on the 5 year old appliances including the air conditioner. It's in the lease. - George L., Tampa, FL

    "I decided to apply the rent towards the new doorway we made into the livingroom. Wait til you see it. You won't recognize the place." - We already had a door into the livingroom. What wall was destroyed without permission? I smell an eviction beginning soon this year. - Steve S., BVR Mgmt

    "I haven't slept there so I won't pay rent! " - by Edith

    "My son's girlfriend left him. That put him in a tizzie. Now he is in rehab and not working. I'm sorry I just don't have it all. You will have to be patient."
    I'm sorry, but my bank has no patience and they never waive a late charge, so I can't either. If this isn't cleared up within 5 days, you will also have to come up with legal fees to stop the eviction. Good luck. - George B., NY

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    Quotations...


    eleanor roosevelt quotes Yogi Berra quotes Thomas Edison quotes Benjamin Franklin success quotes



    "Most people fail in life because they major in minor things." - Anthony Robbins

    "If you do not conquer self, you will be conquered by self." - Napoleon Hill

    "You may delay, but time will not." - Benjamin Franklin

    "How much did your last tenant problem cost you?"
    - John Nuzzolese

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    America's #1 real estate expert is also an LPA Member!
    The Landlord's Troubleshooter and more Real Estate Books By Robert Irwin
    Robert Irwin is the bestselling author of more than 50 books on real estate. His career in the real estate industry encompasses more than three decades of experience as real estate broker, landlord, and consultant to lenders, agents, and investors.
    Robert Irwin Real Estate Books



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    Books by LPA Members

    The Landlord Protection Agency is proud to recommend the following landlord books written by LPA Members, Robert Irwin, Timothy Spangler, Tony & Sandy Midea and Dan Auito. Just click on the book for more information about it.

    real estate investing, landlord books





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    LPA Membership Expiring?
    Take Advantage of the Renewal Prices!

    How to Check your LPA Membership Expiration Date:
    1. Be logged in with your LPA username & password
    2. On the "Main Menu" (top right), click on "Your Orders" (right below your name)
    3. The beginning date of your membership will be listed to the left of your membership order # in this format: YYYYMMDD


    NEW! Save Money with our Promotional Membership Renewal Prices!
    *Your Membership Expired? No Problem!



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    Report bad tenants to the National Tenant Rating Bureau or Deadbeat Database

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    This offer also applies to 2-5 year Membership Renewals!
    Check out our low renewal prices
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    landlord books, landlording, landlord information, landlord tenant law, evictions



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    Interested in past LPA Newsletters?
    Feel free to view the LPA Newsletter Archive



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