|Landlord Newsletter Nov 9, 2010 | Landlord Form in the Spotlight|
November 9, 2010
Dear Fellow Landlord,
In this issue:
Please e-mail us if you have any questions or would like to add or share any material / information.
The Security Deposit Settlement Statement
Have you ever argued with a tenant about their security refund?
The Security Deposit Settlement Statement may be used with or without a Move-In/Out Property Condition Inspection Report.
This form alone has enabled us to make valid deductions (saving us tens of thousands of dollars in damages over the years) from security deposits without a hassle from the tenants.
Don't get me wrong, we are not out to unjustly take security money from tenants! But when deductions need to be made, this form can be a miracle worker. Why? Because it itemizes valid deductions on paper in black and white and now becomes much more difficult for your former tenant to argue with the facts.
No more arguing with tenants about their security refund!
In the past we've all made some real bloopers of mistakes.
How about one of the most common mistakes that many landlords still do all the time?
Yes, meeting with the tenant for a walk through* to check the condition of the property and then hand over the security deposit. Often, there is a disagreement over whether the damages were the tenants fault or responsibility, right?
Isn't it an awkward position for you to be in when the tenant is a slob and did extensive damage and expects all his security back? Do you tell them that they are slobs? Most of us are glad just to see the tenants leave so we can clean up the property and get better tenants next time. How often do you walk away from that meeting feeling disappointed? ...
Ask the Attorney
John Reno also does Mortgage Loan Modifications (Nationwide).
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:
A: I strongly doubt you can do it. But it's a local ordinance issue. Most localities have rules that say you must have a building permit to use an area as living space. So you can pitch a tent, but you can't live in the yard in a tent. That's, in effect, what you would be doing.
Save yourself a little work with the ...
Have you ever wondered if the tenants would have done a better job vacating if you gave them specific
instructions? Much like the LPA Move Out Reminder Letter, this reminds the tenants to not wait until their last day of tenancy to put out garbage
and debris. They are urged avoid clean up charges and deductions from their security deposit and to make arrangements as soon as possible to get rid of their unwanted items, rather than leave
them behind in or around the property.
I opened up my water bill and could not believe my eyes. Our normal bill is around $60.00 for three months and this bill was $197. There must be a mistake! I called the water company very upset with this bill. Someone must have read my meter wrong!
Well I was the one wrong. The water company was very polite but insisted we had a leak in our house. Most times it is the toilet they said. I checked the faucets, the outside faucet, the pipes and could not see anything. Then I checked the toilet guts. I could not hear the water running but it was.
The flapper was not shut tight against the bottom of the toilet. It was a constant run of water. Could this be the cause?
I changed the guts of the toilet with a repair kit for $9.99. The next water bill went down and now our water bill is back to the average $40.
Now when we prep our houses for new tenants, we change the toilet bowl guts as part of the normal routine.
- LPA Member, Lou C., BVR Mgmt
"95% of tenant problems can be eliminated in the screening process." - John Nuzzolese
"Knock the "t" off the 'can't'" - George Reeves (Superman Actor 1914-1959)
"If the window of opportunity does not open by itself, YOU must open it." - John Nuzzolese
"Without knowledge and a workable plan, you are gambling, with little or no chance of success." - Robert G. Allen
"How much did your last tenant problem cost you?"
Quick Check Credit Reports, Inc. is proud to announce its affiliation and partnership with The LPA in helping landlords protect their interests by better screening tenants at lower costs!!
Not only is Danielle Babb one of our county's most knowledgable real estate anylists, she also shares excellent landlord information and advice in her book, "The Accidental Landlord". Plus she's a super nice person! - John Nuzzolese
LPA members: FREE!
LPA members have been asking me for a while now about how to set up automated rent payments with their tenants. I'd like to bring your attention to ClearNow, the leader in electronic rent collection. ClearNow enables you to have your rent automatically withdrawn from your tenant's bank accounts and directly deposited into your bank account.
If you haven't done so already, please check out
Tips & Advice
Landlord Tenant Law
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