|Landlord Newsletter - Tenant Collection and Reporting|
Dear Fellow Landlord,
In this newsletter:
Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month and an even more successful year ahead.
By John Nuzzolese
Have you ever been beaten by a tenant on the rent? Most of us have and unfortunately, it is one of the costs of doing business as a landlord.
On the brighter side, remedies are available for many. If you have documented your tenancy with the proper paperwork including a rental application, lease agreement, late notices, etc., you may have a chance of collecting.
Credit bureau reporting is an option in which many modern landlords are beginning to participate.
The LPA recommends tenant and credit reporting to our members.As landlords ourselves, we do not believe tenants should get away "Scott Free" for leaving their landlord with a mess of unpaid rent, damages and other unpaid responsibilities. The prospect of reporting delinquent rent onto the tenant's credit record creates an incentive for the tenant to preserve his good credit, or to clean it up in order to some day qualify for a loan or mortgage.
A delinquent landlord debt is a serious mark against a consumer tenant's credit report for seven years and will likely:
Notifying the current or former tenant that you intend to report their rental debt or payment history can be done in the following ways:
Credit Reporting Disclosure Notice , or Credit Reporting Disclosure Notice to Former Tenant
For more infomation, click here
Eviction Ramification Notice
John Reno also does Mortgage Loan Modifications (Nationwide).
Dear Mr. Reno:
A: First of all, just my opinion, you're evicting a tenant that's current, in this economy, I think that's a mistake. But if you insist, send a lease with the increase. If they wont sign, serve a 30 day notice.
Dear Mr. Reno:
A: If you think you can tell your tenant he can't have a girlfriend, you've got a lot to learn. Sometimes you can get them on a lease violation, but it's problematic, Trust me.
If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
"When you need advice- do you seek someone who has proven success or do you get advice from people who have never achieved what you desire?" - Robert G. Allen
"95% of tenant problems can be eliminated in the screening process." - The LPA
"Tough times don't last. Tough people do." - Gregory Peck
If you want to survive as a landlord, "You can not run your business from your heart. You have to run it from the head." - Nick Koon, Hard Nose Landlording "The LPA loves tenants... as long as they are good." - Jack Klein, LPA member
"How much did your last tenant problem cost you?" - John Nuzzolese
Not only is Danielle Babb our county's most knowledgeable real estate analyst, she's also an LPA member!
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!
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