You get a landlord tenant relationship. I wish I realized the ramifications earlier....click for John's full article...
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How to Recession Proof Your Life!
By Dr. Danielle Babb
In today’s turbulent economic times, we can lose 2% of our 401k value in a day; 5% in 6 months in our homes; the instability requires a solid plan of action to recession proof your life!
About 40% of economists surveyed today believe a recession is likely in 2008. So what can you do to be prepared:
1) Secure any income. If you have income streams, document them and be sure they’re safe for the next few years.
2) Start getting your financial house in a database, literally. Use a money tool like Quicken or even Excel to help you keep track of things like mortgage balances and credit card debt. Sometimes seeing how much you are in debt can help curb spending, too.
3) Prioritize your debts. You get an $8000 tax return right? You owe $7500 on your car; so it would be nice to remove that payment! But what if you’re paying 6% on your car and 15% on your credit card? Even if the $8000 won’t make much of a difference in your balance, it will make a difference in how much of your money goes to interest each month. Pay the debt that has the highest interest rate first!....
click for Dani's full article...
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Ask the Attorney
The Landlord Protection Agency® is proud to introduce John Reno, Esq., a highly experienced Landlord - Tenant attorney based on Long Island, NY.
If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
Dear Mr. Reno:
I inherited a section 8 tenant with a property I purchased. The property was owned and managed by HUD. They did not have keys for this one unit. We have written and also verbally requested a copy of the keys from the tenant so we could have access for maintenance and emergency purposes. I am still waiting. Mean while the HUD inspector, after 3 attempts to enter the unit for the yearly inspection, indicated that there was a leak in the bathroom and damage to the first floor ceiling from the leak, which a requested to have fixed was made. Several broken and missed appointments by the tenant later, the leak is still leaking and causing more damage. And yes all copies of correspondence with said tenant have been sent to the case worker. My question is can I just break the lock to get in to the unit to make the repairs, inorder to prevent further damage to the unit? - Adam Perlin, New Jersey
A:
You need to review the lease. There should be a section about your rights, if any, to access without the tenant's permission. You inherited a tenant with a lease and are bound by the terms of that lease even though you never signed it. (By the way, while your reviewing the lease, you should also look for your rights to "termination" since you'll probably have to evict these people in the near future.
Dear Mr. Reno:
I have a tenant who has been leasing my unit for two years. After the signing of the lease for the second year, they started paying the rent late. I live in California and would like to know if I can renew their lease on a 6 month basis? If they continue paying during this period then I will definitely not renew for another period.
Also, what is the law for eviction on a lease?
I hope this is clear!
Thank you for your advice.
Sincerely, Gwen M.
A:
Yes, you're under no obligation to sign up for another year (unless that's a special California thing- I've never heard of it) I believe six months or month to month is fine.
Read more from John Reno, Eviction Attorney
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The Armchair Real Estate Investor, By Robert Irwin
Featuring The LPA.com !
Everything you need to know to profit from real estate you can learn online including finding valuable properties, buyers, sellers, financing, closing solutions and more.
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.
Bob Irwin is a great guy, and a very knowledgeable real estate expert. I am honored to have The Landlord Protection Agency featured in his latest book. - John Nuzzolese
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Landlord Do's & Don'ts
After the Tenant has Moved
What The LPA says you should do and shouldn't do:
DO
DON'T
- tell the tenants that they will not be getting their security deposit back- let them see that on the Security Settlement Statement.
- return any security deposit until after tenant vacates and the rental has been inspected for damages
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Back by Popular Demand! Super Screening Timesaver!
FREE HTML Code for your Internet Ad's Pre-Screening Prospect Card
I recently began using a basic little chart on my internet rental ads that have made quite a difference in setting up appointments. I used to advertise in local newspapers, but websites like Craigslist have been a helpful way to save advertising dollars!
Just paste the code below into your html internet ad so your prospects can respond by e-mail giving you the information you need to know before setting up appointments!
Don't let unqualified losers waste your time on the phone. Narrow them down before you talk to them.
The code below is for the following chart:
Any questions or
to arrange appointments,
please
e-mail us with the following information:
Thanks!
Click here if the html code does not appear on your e-mail
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Tenant Excuses
"I’m afraid if I catch up my rent you’ll evict me." They haven’t paid any rent in 3 months and are now $3000 behind.. Janet T, Tontitown, AR
"I'm so sorry! I was in Cancun all week and just got back into town last night." Says our renter this morning who is now 9 days late.... - Lisa, NC
"Our iguana got stuck in the bathtub drain and we have to spend monies to dig up ground to save him." - Safiyyah, Miami, Florida
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Quotations...
"People with goals succeed because they know where they are going... It's as simple as that." - Earl Nightingale
"Accept responsibility for your life. Know that it is you who will get you where you want to go, no one else." - Les Brown
"There is no failure. Only feedback."
- Robert G. Allen
"How much did your last tenant problem cost you?"
- John Nuzzolese
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Books by LPA Members
The Landlord Protection Agency is proud to recommend the following landlord books written by LPA Members, Dr. Dani Babb, Robert Irwin, Timothy Spangler, Tony & Sandy Midea and Dan Auito. Just click on the book for more information about it.
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- Be logged in with your LPA username & password
- On the "Main Menu" (top right), click on "Your Orders" (right below your name)
- The beginning date of your membership will be listed to the left of your membership order # in this format: YYYYMMDD
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*Your Membership Expired? No Problem!
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This offer also applies to 2-5 year Membership Renewals!
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