Landlord Newsletter November 22, 2011

Wishing you a very Happy Thanksgiving!

In this issue:

• Thankful for My Favorite Lease Clauses
  
• FREE Landlord Form!
  
• Ask the Attorney, Real Estate Attorney, John Reno
  
• Thanksgiving 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

Thanksgiving is a time for being grateful and giving thanks. I thank God that I have been blessed with a wonderful family, great children and health. I am grateful I was given the strength to keep getting up when I was knocked down, to face the odds whenever they are against me, and for the faith, help and support I always seem to find when I need it.

There’s something else I am grateful for: the following 13 clauses in the LPA Lease, which make it possible for me to be an effective landlord and property manager. Each and every one of these clauses have saved me repeatedly from the situations in which they apply. I've included links to related articles and forms I use to enforce these clauses.

1. Late Fees, Added Rent & Bounced Check
   LPA Lease Clause # 3, Late Fees is one of the most active clauses that frequently need to be enforced for most landlords. Without this clause, you are not legally able to enforce collecting a late fee, so it is very important to have in your lease. I am thankful for this clause because it not only covers us for an initial late fee, but it also provides the tenant with an incentive to hurry up and pay the late fee and the rent by imposing a "Daily Late Fee" that starts one or two days after the initial late fee is due.

   The clause also provides for a "bounced check" or NFS charge, which covers the landlord for fees in the event of a dishonored rent check.

   A very important detail that is often left out of many leases is "Added Rent" or "Additional Rent". You should always classify unpaid late fees and other charges like bounced check fees as "Added Rent". That makes makes those charges legally collectible as rent. If you really wanted to, (I'm not saying you should), you can evict a tenant for unpaid late fees classified as "Added Rent" even if they've paid the rent each month.
   
   

2. Early Payment Discount
   Many landlords don't like to give the tenant a discount for paying the rent on time or early. The sentiment is: "Why should I reward the tenant for doing something they agreed to do anyway?" I agree with the sentiment, but I have to disagree with the reality of it. I would rather have the bulk of my rents come in a week to 5 days before the first of the month. I usually build a $5. or $10. early payment discount into every lease.

   Good responsible tenants want that discount and have a reason to pay early. It sure beats sending late notices and chasing the rent each month. More importantly it saves my valuable time and gives me peace of mind too.

   If you don't have this clause already in your lease, you can also present your tenants with an Early Payment Discount Voucher.
   
   

3. No Pets
   In the words of the late Nick Koon, a landlord guru and mentor of mine, "No pet ever improved a rental property." The LPA Lease has a standard No Pet clause.

   In the event I decide to accept a tenant with a pet, I require a Pet Agreement Addendum to spell out the specific rules of conduct and care needed to protect the rental property. The Pet Agreement explains that the privilege of having the pet may be revoked if the tenant does not uphold his responsibility.
   
   

4. Maintenance & Repairs
   LPA Lease clause #9 instructs the tenant on maintenance and repairs in detail. This clause has saved me many times in various ways. It includes policy concerning how presentable the property must be for the purpose of showing once notice is given to vacate. A messy or damaged property can prevent you from re-renting.

   The clause also requires the tenant to be responsible for minor repairs under a certain determined amount of money. Painting is not allowed without the owners approval. If I find the tenant is not upholding his responsibilities, I will notify him with a Lease Violation Notice.
   
   

5. Grounds
   Do you maintain the grounds or does your tenant. The Grounds clause makes the tenant responsible for the exterior maintenance of your rental property. Part of being my tenant means taking on many of the responsibilities of a homeowner. Taking care of the property with pride is one of them. The clause states that if the grounds are neglected, the landlord may correct any problems or hire a landscaper at the tenant's expense.

   I use the Grounds Violation Notice to enforce this clause.
   
   

6. Appliances
   I am thankful for our appliance clause in the LPA Lease. It makes the tenant fully responsible for all the appliances. This clause has saved me countless time over the years, because appliance are sometimes high maintenance items. Especially washers and dryers! My policy is to explain this clause to the tenants when they sign the lease. I tell them many tenants bring their own appliances. We are not in the appliance business, and all of the appliances are in excellent working order and we expect them to be returned that way. If the tenant wishes to replace our appliance with his or her own, we will remove our appliance and they can take their appliance with them when they leave. Most of the time they leave their appliance. If your lease doesn't have an appliance clause, The LPA's Appliance Agreement can come in handy.
   
   
7. Plumbing Stoppages
   A common call you hear from your tenants might be about toilets or plumbing stoppages. I love the plumbing stoppage clause because it has practically eliminated plumbing stoppage calls for us...

Thanksgiving SPECIAL! FREE LPA Membership Year Order a 5 year membership and we'll give you the 6th year for FREE! Includes the LPA Forms disk and FULL online access. Offer Valid until 11/30/11! (9¢ a day = having the edge on tenants for 6 years!)

Carbon Monoxide Addendum

Carbon Monoxide Addendum

The Landlord Protection Agency® presents 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:
What is the landlord requirement regarding Heat Temp. during all months of the year, day/evening, when it is provided (included) in the rent? Do the temperatures differ where tenants w/young children are concerned? Thank you,
Alaina S., New Hampshire

A: Some States do have requirements, but it varies. You have to call the County Health Department.

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.

"I thank God for my handicaps, for through them, I have found myself, my work, and my God." - Helen Keller

"Thanksgiving dinners take eighteen hours to prepare. They are consumed in twelve minutes. Half-times take twelve minutes. This is not coincidence." - Erma Bombeck

"Thanksgiving is an emotional time. People travel thousands of miles to be with people they only see once a year. And then discover once a year is way too often." - Johnny Carson

"You can tell you ate too much for Thanksgiving when you have to let your bathrobe out." - Jay Leno

"Don't you love when tenants call in the middle of Thanksgiving dinner? That's a good reason to keep your private phone number private!"- John Nuzzolese

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

How to Check your LPA Membership Expiration Date:

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!

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