The LPA Newsletter
October 2007
Dear Fellow Landlord,
I've always found that finding quality tenants can be more of a challenge in the fall. It seems most of the best qualified tenants rented earlier in the year when weather and market conditions were better. But now, I realize that I have to change my thinking. The current market is affecting everyone. It seems that the rental market is beginning to see many would be home buyers deciding to rent instead of investing in an unsure housing and mortgage market.
With the biggest foreclosure epidemic in many years, we can expect the need for house rentals to increase as many homeowners become tenants again.
In this newsletter:
Free Downloads:
- State Specific Notice Period Chart and
- Tenant-Finder™ Prospect Qualifying Chart
- Helpful LPA Lease clause - Copy it for free.
Recent Tenant Excuses
Recent 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
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State Specific Notice Period Chart
Many landlords tell me they gave the tenant 30 days notice to cure a default. Sometimes it is a non-payment default. The state limitations on the notice period to cure a default are mush faster than the notice periods to terminate or change terms in tenancy. Don't give your tenant all that free time unnecessarily.
View or print the State Specific Notice Period Chart to determine the proper amount of days notice needed to cure the default for non payment of rent. Used for Notice to Pay Rent or Quit form.
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Take the Stress Out of the Decision.
Score Prospects by Their Point Value
Score your Tenant-Finder™ Worksheet to help you evaluate the prospective applicant. Before making an appointment to show your property to an applicant,  examine your findings. The LPA Tenant-Finder™ Prospect Qualifying Chart will help you determine a more accurate score for each applicant.
The Tenant-Finder™ Prospect Qualifying Chart helps you break down the evaluation of a rental prospect into five main categories.
Those categories are
- Money
- People
- Credit
- Tenant
- Timing
Although the Tenant-Finder™ Prospect Qualifying Chart is designed to work with the scoring of the Tenant-Finder™ Worksheet, it can also be used alone to score prospective tenants.
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FREE LPA Lease Clause: Plumbing Stoppages
We find this clause is most helpful in leases for single family home rentals, but has also been successful in multi family dwellings.
Just copy and paste into your lease document. (If you already use The LPA Lease, the clause is already there.)
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Tenant Excuses
"I'm sorry I can't make out a check to pay you---I broke my leg".
Years ago, when I was a landlord, a tenant who was overdue on the rent payment, had this to say when I called to inquire about the delay. - John B., Fenton, Michigan
"You didn't even come to our party. You didn't acknowledge my daughter's birthday!"
I'm not your friend dammit! I'm your landlord. - Steve, BVR
"I just bought a new car. After insurance, taxes and what not, it costed much more than I thought it would. This could set me back for a while. I hope you'll be understanding about it."
Said the note in the rent envelope. I responded that I fully understand as I'm sure they understand the late fee clause in their lease along with the pay or quit 3 day notice enclosed in my certified mail. - Matthew O., Colorado Springs, CO
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Quotations...
"A journey of a thousand miles must begin with a single step."
Lao-Tzu
"Coincidence is God's way of remaining anonymous" -Goethe
"Success is the ability to go from one failure to another with no loss of enthusiasm." - Winston Churchill
"How much did your last tenant problem cost you?"
- John Nuzzolese
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America's #1 real estate expert is also an LPA Member!
The Landlord's Troubleshooter and more Real Estate Books By Robert Irwin
Robert Irwin is the bestselling author of more than 50 books on real estate. His career in the real estate industry encompasses more than three decades of experience as real estate broker, landlord, and consultant to lenders, agents, and investors.
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Books by LPA Members
The Landlord Protection Agency is proud to recommend the following landlord books written by LPA Members, Robert Irwin, Timothy Spangler, Tony & Sandy Midea and Dan Auito. Just click on the book for more information about it.
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Interested in past LPA Newsletters?
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LPA Newsletter Archive
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State Specific Notice Period Chart