Landlord Newsletter July, 2012

Dear Fellow Landlord,

In this newsletter:

• 4 Simple Screening Steps before spending any money
  
• Paying Rent and Building Credit
• Free Rental Form
• Ask the Attorney, Real Estate Attorney, John Reno
  
• Wealth Secrets and Success Quotes
  

Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month!
John Nuzzolese
John@theLPA.com

The Landlord Protection Agency® suggests the following simple steps to take before you spend any money on credit reports:

1. Pre-screen your prospects before showing the rental. It eliminates unnecessary appointments and saves you time. Use a free LPA Pre-screening Prospect card.

2. After showing the rental, have your interested prospects fill out and sign an LPA Rental Application. Be sure to collect a non-refundable screening fee and deposit as provided for in the application.

3. Verify the employment and tenant references contained in the application. Use LPA Landlord Reference Qualifier form to evaluate the legitimacy of the landlord reference.

4. Tenant Screening with Facebook and Google
   In addition to the normal tenant screening with my LPA Rental Application, the Landlord Reference Qualifier and Quick Check Credit Reports, I have been able to eliminate a number of potential tenant problems by searching tenant applicants on Facebook and Google. A few minutes of searching Facebook and Google can pay off big-time. I am flabberghasted at what information, pictures and behavior some people post for the world to see! I've even seen pictures of people wrecking their landlord's house! I've also seen pages of the nicest people. I'm glad we have another source to check!

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."

Experian provides renters with an opportunity to build credit history through new collaboration with ClearNow® Renters of any size or type of residential property can now work with their landlords and ClearNow to report their rental payments to Experian RentBureau

Experian, the leading global information services company, announced that it has extended its capability to accept rental payment data from individual landlords and property managers through its new collaboration with ClearNow®. ClearNow offers a low-cost and easy solution for collecting and making payments electronically and automatically. Experian, through its RentBureau business, currently receives rental payment data from more than 3,000 apartment communities, most of which are managed by large property management companies. Whether a renter lives in a large apartment complex or rents from a landlord that only manages one property, Experian now will provide an opportunity for all renters to build credit history through rental payments.

"We’re thrilled to offer a simple way for many responsible Americans to get the credit they deserve by making their rental payments as agreed," said Steven Wagner, president, Experian Consumer Information Services. "In the past year, we have led the industry in helping renters build credit history, and with the latest collaboration with ClearNow, we are achieving another major milestone."

ClearNow allows landlords and property managers to electronically collect rent from their tenants via an automatic bank account debit. This relationship will allow renters to enjoy the convenience of automating their rent payment, which can help avoid late payments, and opt in to reporting their rent payment history to Experian RentBureau. Experian currently includes rental payments on its credit reports which helps many responsible renters build credit history.

Settlement Charges Guide

Notice to Renew Lease or Vacate

Alerts the tenant before or after tenancy what kind of move-out charges he or she can expect for damages, cleaning or neglect caused as a result of tenant's occupancy. Some landlords send this form along with the Security Deposit Settlement to show how certain deductions from the security were calculated. What many tenants consider "normal wear & tear" are really damages and neglect that they should pay for.

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:
Rent to own situation. Renters paid $2500 non refundable deposit and $1500 per month. At end of lease, they decided not to purchase. They had a 1 year lease and verbally asked to stay another month until their new place was ready. They moved out and did not pay any rent for the additional month. Unfortunately no contract was signed for that last month, nor a verbal agreement on a rent amount for that month.. It’s been 6 months, can I force them to pay the $1500 they were paying while on the lease?
Syndy, AZ

A: Yes. You're off to small claims court.

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.

"You think you know someone? You don't really know them until they've rented from you." - John Nuzzolese, TheLPA.com

"Time is more valuable than money. You can get more money, but you cannot get more time." - Jim Rohn

"Poverty is when large efforts produce small results. Wealth is when small efforts produce large results." - David George

"We are what we repeatedly do. Excellence, therefore, is not an act, but a habit." - Aristotle

"How much did your last tenant problem cost you?" - John Nuzzolese, The Landlord Protection Agency

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!

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....

Click here for the full article

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
   

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