In this issue:

• Landlord Tip: Security Deposit Return Time
  
• Landlord Tip with Free Form Download!
  
• Ask the Attorney, Real Estate Attorney, John Reno
  
• Wealth Secrets and Success Quotes
  

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

Question: Can my lease require a longer timeframe than the state limit to return the security deposit? My state requires that the deposit and or settlement statement must be returned to the tenant within 30 days of the termination of the lease.

Answer: In most cases, the agreement of the parties (lease) can set the terms and timeframe of the deposit return. Upon asking our company attorney, we were informed that the landlord and tenant can not change the tenant's statutory rights in their lease without specific language in the lease, such as, "tenant waives his statutory right to the deposit return within 30 days after lease termination and agrees that it may be up to 60 days."

The LPA always recommends you consult with a local attorney regarding legal matters.

click here for information on the LPA Security Deposit Settlement Statement

Many landlords and real estate agents across the US use a basic Rental Binder to secure their rental deals. Although the Rental Binder is often used as a basic rental agreement, it is not and should not be used as a rental agreement or rental application. It is a pre-contract form, a binder receipt, proof that an offer has been made with an earnest money deposit.

Upon written acceptance of the offer by the owner/agent of the rental, it becomes a binder, whereby it is agreed that the rental will not be rented to anyone else before the agreed lease signing date. It is a good idea to use a rental binder form as a first step to solidify your rental deal with a non-refundable deposit, while also settting up the proposed details of your pending lease agreement, such as time, place, date and what the tenant will be expected to bring to the meeting.

Although the binder receipt is included in the LPA Rental Application, this form is especially helpful to rental agents who collect their real estate commission from the tenant because it also provides for a written agreement of the rental commission.

Rental Binder Agreement

The Landlord Protection Agency® is proud to introduce 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:
Thank you for the valuable information you provide. My renter has two more weeks left on the lease agreement. She has moved out over the weekend and left the key to the home in our mailbox. Do I have to wait the two weeks before taking possession and cleaning or is it a done deal and I can change locks and start the cleaning process. Because she left the key, I don’t believe she will come back and clean, shampoo carpet etc. She has a deposit but the carpet replacement, cleaning, and repair will consume that.She left no forwarding address. Thanks!
Roger Sailors from Tomball Texas

A: Go for it. You are cleared for takeoff!

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.

"Tenants show their true colors in pressure situations." - John Nuzzolese

"Our greatest glory consists not in never falling, but in rising every time we fall." - Confucius

"You'll have time to rest when you're dead." - Robert De Niro

"How much did your last tenant problem cost you? Your LPA membership will pay for itself by helping you avoid the smallest tenant problem." - John Nuzzolese

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
   

If you haven't already, please take the opportunity to sign up for The LPA's Quick Check Credit Reports! Quick Check is a simple, fast way to access online credit reports while saving you money!

Just lower prices!

Special Tenant Screening Discounts for LPA members. See our price list!


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Introducing Help Me Rent Magazine!

Help Me Rent Magazine is a revolutionary, free publication that provides a new, dynamic online and print advertising arena for landlords.

Help Me Rent Magazine enables landlords, property owners and realtors to place classified listings in an online and regional print format magazine in 32 markets and 18 states nationwide, with 350,000 in circulation. The online portal and print magazine collectively provides a benefit by greatly extending the exposure of your listings. A significant component of HMRM is being an integral and critical tool to effectively advertise vacancies in order to fill them rapidly with satisfied renters.

Help Me Rent Magazine is more than just a rental listings magazine, it’s a lifestyle and renter focused publication that will ensure the readership will be larger than people just looking for a rentals. Help Me Rent Magazine will continue to vigorously target renters with their enclave of Promotional Contests and Social Media Giveaways to enhance the viewership.

click here for the full article

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