Landlord Newsletter July 2007

Please e-mail us if you have any questions or would like to add or share any material / information. Have a safe and happy July.
John Nuzzolese
John@theLPA.com

Did Your Tenants Vacate As Agreed with NO DAMAGES?

As hard as it might be to believe for some landlords, some tenants are worth their weight in gold. They actually abide by the lease agreement, maintain the property and even cooperate and follow all your rules and instructions for move-out. Now that's a tenant who deserves a full security deposit refund!

Along with the deposit refund that you send to the tenant's forwarding address (after you've inspected the property for damages, of course), you can send the pre-written Security Deposit Return in Full Letter.

Security Deposit Return in Full Letter thanks the tenants for their performance as tenants in your rental and offers them a positive references in the future if needed.

The form is a handy time saving touch when returning a full deposit.

FREE DOWNLOAD Security Deposit Return in Full Letter (You can download this form free till July 31, 2007 in or Adobe PDF) Fortunately, I've been getting to use this form more and more lately. That is a good sign because it means that the rentals are being left as agreed. That translates to a lot less work and expense for me in getting the properties ready for the next tenants!

Looking Inside Your Tenant’s Mind

Basic Mind-Reading Report 101 for Landlords

This report will give you perspective and understanding in the realm of your tenant’s mindsets and Modus of Operandi. It’s looking at their situation from their point of view as well as your own.

It goes without saying but I will say it anyway. The better you understand your tenants and their personal situation, the better you can serve their needs and your own. Notice that your needs come after your tenants. Always put your tenants’ needs before your own and they will buy real estate for you in return. That’s a fair trade. Take it!

Many cold-hearted, self-serving, money-grudging, wanna-be landlords don’t understand human nature. Let me tell you right now, if you can’t put yourself in another person’s shoes and see a problem from that person’s perspective with empathy, you will fail miserably in the “landlording” business and in life. Wise up!

Fear not. If your not quite sure what I’m talking about, here come the stories and details of how to be loved and adored by those kind people called tenants.

Let me first dispel the horror stories about landlording. If you follow my advice and teachings, you should have very few tales of woe to tell. You’ve heard the stories and they sound like this: Those damn lowlife tenants. They trashed our house, they disturbed the neighbors, they ruined our lawn, they were filthy pigs who never paid the rent on time, they never did what we told them to do and it cost us a fortune to get rid of them and repair our investment once they finally did move.

Well, guess who’s fault that is. Yep, it is completely and unequivocally the fault of the so-called person that is calling themselves a landlord. The real name for this type of so-called landlord is uneducated dummy and because of these lazy fools the whole industry gets a bad rap!

There is a plus side to the scenario above and that is this: It sets up a perfect opportunity for you to do the exact opposite of the fools and create for yourself an unlimited market supply of excellent trouble-free tenants for life!

Tenants, believe it or not, are human beings. They are not animals or things to be mistreated, abused or taken advantage of. If you will prepare your rentals as if your mother was going to be moving in....

click for the full article

Dan Auito is a dual-licensed real estate agent and appraisal assistant. In addition to being a 20-year veteran of the United States Coast Guard, Dan has also founded a non-profit drug prevention corporation, a real estate consulting group and is the author of "Magic Bullets in Real Estate." This 300-page power-packed book comes with a website that further supports its readers. Please visit with the family at www.magicbullets.com we look forward to seeing you!

Collecting Money Owed by a Tenant

Did you ever have to evict a tenant for non-payment of rent, then get stiffed for the bill? You may be able to collect what is owed to you, even years later.

First, you need a court-ordered money judgment. If you filed for an eviction in court, you received a judgment and order of possession. The actual name of this court order may change slightly from state to state, but it's the same thing - a document signed by a judge that permits a local sheriff or constable to forcibly remove the tenants from the property.

In most states you can also get a money judgment against the tenant, but this requires one of two things: 1) the tenant must have been personally served with the court papers or 2) the tenant must have shown up in court. If the eviction papers (the court papers, not the notice to pay rent) were posted on the door of the unit and/or mailed to the tenant, you generally do not get a money judgment from the court.

If the tenant left before the court date or you did not otherwise get a money judgment, you can always sue the tenant in your local small claims court for money owed and any damages to the property.  The process is quite simple, and does not require a lawyer.  You have to file the claim before the end of the statute of limitations, which generally ranges from three to six years, depending on which state you live in.

Once you have a money judgment, you can collect it against ....
click for the full article

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Landlord Tip:

Have proof you have sent written notices.
I have on many occasions seen tenants deny they received written notices from the landlord. One of the best ways to prove a notice was sent by Certified Mail is to include the Certified Mail Article # on the document and also send a copy by regular mail, and also keep a copy for yourself. Having the article # on the document shows that the notice you sent was the same as the notice you say you sent.
Just pick up a pile of certified mail postcards and receipt slips so you can prepare them before going to the post office. - The LPA


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Tenant Excuses

"We'll pay you after the 4th of July. We're having a big party and had to buy a lot of beer."
Late Fee Due! - Bert, Naples, FL

"I can't pay my rent because I have to take my mom to the rodeo" - Jacquie, MT

"It was good when I wrote it, you waited too long to cash it so I must have spent the money."
He wrote a check on 06/04, I went to the bank to cash the check on 06/21 and was told "There is not quite enough funds for this check." - Debbie, Fairbanks, AK

"My sister has lupus, and I am so upset about it I can't even function. Maybe I can get the rent out of my father's equity account. I have power of attorney."
I sure hope you get yourself functioning again. You're gonna function yourself right out of my house! -Sharona, J., NJ

"We were withholding the rent from the previous owner (I'd just bought the place) because the stove and refrigerator don't work." I went shopping that day and replaced the stove and fridge for them right away. Then, they tell me, "Oh, we can't pay for another two weeks because we paid other bills with the money." Hmmm, I wonder if that has anything to do with the new Nintendo Wii I saw in their apartment.... - Trisha A., Tulsa, OK

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Quotations...

"One of the secrets of life is to make stepping stones out of stumbling blocks." - Jack Penn

"Success is not a doorway, it's a staircase. " - Dottie Walters

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

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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.


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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.






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