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Landlord New Year's Resolutions

My Top 10 Landlord Resolutions

(by John Nuzzolese)

  1. Become an expert at Tenant Screening. No more bad tenants!
    Use the LPA Rental Application for all applicants – even if they are recommended by friends! Remember, "The best way to avoid tenant problems is to avoid problem tenants."

  2. Fill that vacancy with good tenants. Have access to credit reports

  3. Get rid of my bad tenants. No more procrastinating! Solving these problems sooner rather than later will save me a ton of money. I can choose from a few different forms to terminate a bad tenancy:

  4. Find the right Landlord Attorney for me. A good landlord attorney will make evictions much faster and easier. I’ll be a more powerful landlord.

  5. Enforce or increase late fees. For it to be effective in encouraging timely payments, tenants must feel the cost of a late charge.
    Late Charge Due Notice
    Urgent Late Notice

  6. Tackle that list of repairs or improvements – Remember Quality tenants are willing to pay a little more for a quality place.

  7. Keep a professional arm’s length from tenants. No more being chummy with tenants! This is a business, not a hobby. “Familiarity breeds contempt.”

  8. Increase rents on those under paying units. Increase cash flow.

  9. Join a Landlord support group like the LPA and / or a local association. Why not have powerful landlord tools and support on your side?

  10. Let tenants know I report late payments to a national tenant reporting bureau. If they want to maintain good credit in order to buy a home someday, a good rent payment record will help. The LPA site offers 4 options of tenant reporting:

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