Landlord Newsletter March 13, 2012 |
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.
3 Simple Tenant Screening Steps... before spending the money on a credit report: The Landlord Protection Agency® suggests the following simple steps to take before you spend any money on credit reports:
If you feel confident the tenant passed all your screening inquiries so far, run a credit report with a major credit bureau to review the prospect’s credit history on the payment of bills, delinquencies, address history, employment history and judgments. Remember: "It's better to have no tenant than a bad tenant."
Rental Binder - Deposit Receipt Many landlords and real estate agents across the US use a basic Rental Binder to secure their rental deals. Although the Rental Binder is often used as a basic rental agreement, it is not and should not be used as a rental agreement or rental application. It is a pre-contract form, a binder receipt, proof that an offer has been made with an earnest money deposit. Upon written acceptance of the offer by the owner/agent of the rental, it becomes a binder, whereby it is agreed that the rental will not be rented to anyone else before the agreed lease signing date. It is a good idea to use a rental binder form as a first step to solidify your rental deal with a non-refundable deposit, while also settting up the proposed details of your pending lease agreement, such as time, place, date and what the tenant will be expected to bring to the meeting. Although the binder receipt is included in the LPA Rental Application, this form is especially helpful to rental agents who collect their real estate commission from the tenant because it also provides for a written agreement of the rental commission. by 4RentSigns.com As a landlord trying to rent out a vacancy, have you ever thought about how backwards the process is? You're the landlord. Why do you become a secretary answering phone calls all day every time you slap a 'For Rent' sign in front of a unit or place a classified ad? The answer is pretty obvious. When you only list a phone number and some very basic information, you don't give the prospective tenant a choice. The only option you've given them to learn more about your property is to call you up and ask more questions. What are they supposed to do really? As you know though, the problem is that most of those people end up not being interested in your property, are not qualified, or are "just looking." Some people enjoy this process and interaction, but for many of us it's a tremendous waste of time and energy. Wouldn't you love to streamline the process ... 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). Dear Mr. Reno: A: You're still the owner and can do your eviction right up until the foreclosure sale, then, no more. Don't worry about the fraud suit. It's bogus. If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
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.
Credit bureau reporting is an option in which many modern landlords are beginning to participate.... Click here for the full article
"A mind stretched to a new idea never goes back to it's original dimension." - Oliver Wendell Holmes "Everything in your life gets better when you get better, and nothing is ever going to get better until you get better." - Larry Winget "Believe you can and you're halfway there." - Theodore Roosevelt "Without knowledge and a workable plan, you are gambling, with little or no chance of success." - Robert G. Allen "Be kind, for everyone you meet is fighting a hard battle." Plato "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! What are people saying about The Landlord Protection Agency? |
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