|Landlord Newsletter September 13, 2011|
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September 13, 2011
Dear Fellow Landlord,
My quote of the week:
In this issue:
Please e-mail us if you have any questions or would like to add or share any material / information.
What Makes YOU a Good Landlord?1. Understanding the need for quality tenant screening
"It is far better to have no tenant than to have a bad tenant."
A crucial aspect of screening tenants involves using a good rental application and other forms that focus on determining how qualified the applicant is while legally protecting the landlord. Forms such as the Tenant Finder Worksheet and the Tenant Finder Qualifying Chart can be very helpful after you have verified the information given to you on the rental application.
I'm surprised at how many landlords don't actually make calls to check the references on the rental application! Once I had a landlord reference start laughing when I called. I asked what was so funny. He said, "I can't believe this guy was stupid enough to list me as a reference! He is being evicted as we speak." I highly recommend the Landlord Reference Qualifier as a tool for determining the integrity of the landlord reference the tenant gives you.
A 2 minute phone call can save you thousands!
The next step in verifying the references on the signed application that also includes authorization to verify the applicant's credit is to order a credit report. Landlords without access to pull instant credit reports are at a disadvantage when it comes to making timely decisions on accepting tenants. If you do not have access to instant credit reports, I recommend The LPA's credit report agency, Quick Check Credit Reports.
After a while in the landlord business, showing rental properties to many tenants, you tend to hear some of the same questions and statements again and again. The screening process is alive from the moment you first speak with your new prospects until the leases are signed and the money is paid, so you must keep your eyes and ears open for clues and telltale signs of whether your prospect is the right tenant for your rental
Who is responsible for them?
LPA Appliance Agreement With Repair ClauseThe Landlord Protection Agency's Appliance Agreement with Repair Clause is an excellent addition to many leases and rental agreements.
The Appliance Agreement with Repair Clause explains in simple terms to the tenant that if the tenant wishes to use the existing appliances, he is responsible for maintenance and repairs on them.
This document includes a complete appliance checklist at Move -In, signed by the tenant, it also protects the landlord from costly repairs and maintenance by putting the responsibility of the appliances onto the tenant where it belongs.
We are not in the appliance business!
We like the Appliance Agreement because it covers the landlord completely for those annoying appliance repairs that seem to always crop up. This agreement is clear and easy to understand.
The more rentals you have, the more appliances you have that will need repairing and replacing over the years.
John Reno also does Mortgage Loan Modifications (Nationwide).
Dear Mr. Reno:
A: Never saw it. Never heard of it. Educate me. Do you know something I don't know?
If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
"They say the squeaky wheel gets the oil. I've learned that sometimes I have to give the squeaky wheel his walking papers." - John @ theLPA
"I learned that the easiest and cheapest eviction is the one when the tenants never get possession of your property!" - John Nuzzolese
"The winners in life think constantly in terms of I can, I will, and I am. Losers, on the other hand, concentrate their waking thoughts on what they should have or would have done, or what they canít do." - Denis Waitley
"You must learn from the mistakes of others. You can't possibly live long enough to make them all yourself." - Sam Levenson
"How much did your last tenant problem cost you?"
- John Nuzzolese
comes with all 2 - 5+ year LPA Memberships
Be a more powerful landlord - able to handle just about any landlord / tenant situation in a professional way, saving you time and money.
ALL FREE with LPA Membership!
This offer also applies to LPA membership renewals!
Having all the forms all on disk is a handy time saving convenience.
Did You Know...?
If you ordered any LPA forms in the past 60 days, the LPA will credit back to you the cost of those orders when you email us your new LPA Membership order #.
Take Advantage of our low Renewal Prices!
How to Check your LPA Membership Expiration Date:
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!
Not only is Danielle Babb one of our county's most knowledgeable real estate analysts, she also shares excellent landlord information and advice in her book, "The Accidental Landlord". Plus she's a super nice person! - John Nuzzolese
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