Landlord Newsletter - 10 Steps To Better Tenant Screening |
Dear Fellow Landlord, I'm not afraid to lose unqualified tenants. In fact, I try to. Do you know all the steps from pre-screening to lease signing? I hope you like my 10 Steps screening article or chart... Following this screening formula will help you recognize bad risks and focus only on better qualified tenants. 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. 10 Steps from Pre-screening to Lease Signing One common question I am asked is, "Do you have a step by step breakdown of the steps for proper tenant screening?"
The flowchart bubbles are click-able to pages with more detailed information and links for that stage of the process. This landlord flow chart is a simple guide to take you through the steps from first contact with a tenant to signing a rental agreement.
One fact of being in the landlord business is that rent checks will occasionally bounce. When that happens, you, the landlord will probably not find out the rent check was returned until 3 or 4 weeks later, depending on how efficient your bank is. Like a late rent notice, the LPA Dishonored Check Notice will inform the tenant that the rent check was returned for insufficient funds. It will ask for the balance due along with any applicable bounced check charges, late fees, and daily late charges as agreed in your lease. Remember, a bounced check can cause the rent to be extremely late, thereby placing you at a point in time where you may normally begin eviction proceedings, so it is important to jump on this immediately. The LPA recommends that you check your bank account often to discover bad checks as soon as possible.
The LPA Dishonored Check Notice also contains a check box for the option to inform the tenant that personal checks will no longer be an acceptable form of rent payment and that they must now pay the rent in the form of postal money order, certified bank check or cash (cash only if you collect rent in person). The LPA also recommends that when you send a notice like this to the tenant, it is a good idea to copy and paste the late fee and bounced check clause from your LPA Lease to the bottom of the form to show the tenant the penalty fees they agreed to in their lease.
Take Advantage of our low Renewal Prices! How to Check your LPA Membership Expiration Date:
If you're an LPA Member, you are entitled to a discounted rate on credit reports and other tenant screening reports, such as criminal checks and eviction reports. We are offering a FREE CREDIT CHECK when you join The LPA and Quick Check April 15! 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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