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LPA Newsletter - Free Mini Webinar How I Screen My Tenants |
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December 12, 2014 Dear Fellow Landlord, You've probably read some of my Tenant Screening articles, but I was recently told that videos and webinars are easier for those who may not have time or may be too tired after a hard day of work to read articles. (Please give me feedback on what you think) If you're not familiar with the Credit Reporting Disclosure, please check it out. It has made a noticeable difference on our rentals. I hope this holiday season is treating you well! In this newsletter:
Please e-mail us if you have any questions or would like to add or share any material / information. Happy Holidays!
by John Nuzzolese Credit Reporting and Tenant Performance  One increasingly common question I hear from prospective tenants is, "Do you report our payments to the credit bureau?" Sometimes this question is asked because the tenants are interested in building a good credit rating. Other times, the tenants don't want you to report because they are used to enjoying the benefits of paying the rent late without any derogatory feedback on their credit report. We have found that when a prospective tenant is warned that the landlord reports positive and negative information affecting the tenant's credit, the rent becomes a priority. We let all applicants know that if they value their good or clean credit, they must make the rent a top priority. We ask the tenant not to sign a lease with us unless he or she is absolutely sure that paying the rent in a timely manner will be no problem. We tell him that we would not want to see him ruin his excellent credit standing and damage his future creditworthiness when it comes to applying for a mortgage or other credit. Once a tenant knows that his own actions will determine what information will go on his permanent record, the importance of paying the rent and honoring the agreement will be seen in a whole new light. The Credit Reporting Disclosure Notice informs the tenants that you intend to report positive and negative payment history to the credit and tenant reporting bureaus. You are not obligated to report, but you may. The form points out that the tenants' history will be affected by their I prefer to discover tenant problems before actually signing the lease, so that's why I show them the Credit Reporting Disclosure Notice when I begin our lease signing session. A quality tenant normally sees it as an opportunity to maintain a great rent record. On the other hand, a slow paying tenant might voice some objections at that point. I learned that the easiest and cheapest eviction is the one when the tenants never get possession of your property! I hope this form helps you keep your tenants paying on time or early! Click For Essential Forms List
FREE Tenant Credit Reporting 
Have you ever been beaten by a tenant on the rent? Credit bureau reporting is an option in which many modern landlords are beginning to participate.... Click here for the full article
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