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Special Report January 27, 2015
Dear Fellow Landlord,
Surprisingly, many experienced landlords and property management professionals spend a lot of money on credit reports unnecessarily. Why? Because it's easy. I know this because I am often requested to review credit reports with our Quick Check Credit Report clients. Simply put, if you verify a few important things before ordering a credit report, you will save a lot of money in the long run! Below is a little article on the subject that I hope you find useful.
In this newsletter:
- 3 Steps Before Paying for a Credit Report
- Free Snow and Ice Notice or Addendum
- Credit Reports & Criminal Checks at a Discount
- Ask the Eviction Attorney
- FREE BONUS w/ LPA: Up to 10 credit bureau bad debt postings
- Landlord Wealth Quotes
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.
John Nuzzolese
John@theLPA.com
"In two days from now, tomorrow will be yesterday. So, value every day and make it count." - John Nuzzolese
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3 Steps... before spending money on a credit report:
Why spend money on a credit report you may not need?
Often, landlords jump to spend money on credit report screening when the applicant can be easily eliminated simply by following a few easy tenant screening steps.
The Landlord Protection Agency® suggests the following simple steps to take before you spend any money on credit reports:
- Pre-screen your prospects before showing the rental. It eliminates unnecessary appointments and saves you time. Use a free LPA Pre-screening Prospect card.
- 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.
- Verify the employment and tenant references contained in the application. Use LPA Landlord Reference Qualifier form to evaluate the legitimacy of the landlord reference.
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."
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FREE DOWNLOAD
 Snow and Ice Notice & Reminder
Your lease agreement may say your tenants are responsible to keep the walkways safe and free of snow and ice. Tenants sometimes forget. Sometimes they are just too lazy! It helps to have a Snow and Ice Notice & Reminder to urge tenants to stick to their agreement and keep the premises safe in winter weather.
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Ask the Attorney
(Ask the Attorney with John Reno is a Free Feature for LPA members!)
 Real Estate Attorney John Reno, an expert in landlord tenant legal matters, has specialized in landlord tenant law for many years. Mr. Reno answers questions asked by LPA members to help solve all kinds of landlord tenant problems.
Dear Mr. Reno:
Our management company had a rouge employee that evicted our tenant without our knowledge. The employee has since been fired but now we are stuck with an empty house. Does the management company have any responsibility until we rent out the house? We are no longer going to use them because of this.
Thanks,
Mitch, Louisville, Kentucky
A: It sounds like you have a case. Wait until the unit is re-rented so you can calculate the total loss of rent and re-rental costs. Also, read your property management contract thoroughly. There may be disclaimers of liability. The "Fine Print" is always a killer.
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.
Read more from John Reno, Eviction Attorney
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If you haven't already, please take the opportunity to get your LPA Member Discount on all Quick Check Credit Reports! Quick Check is a fast, easy way to access online credit reports!
NO sign-up or set-up fees,
NO membership fees,
NO compliance fees
Special Prices for LPA members.
See our price list!
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Landlord Wealth Quotes
"If you want to survive as a landlord, You can not run your business from your heart. You have to run it from the head." - Nick Koon, Hard Nose Landlording
"One of my biggest fears is having a tenant with more landlord - tenant knowledge and expertise than I have." - John Nuzzolese
"It is better to have NO tenant than it is to have a bad tenant." - John Nuzzolese
"How much did your last tenant problem cost you? It was a lot more than your LPA membership, wasn't it?"
- John@TheLPA
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(Keep Your LPA Discount on Quick Check Credit Reports!)
LPA Membership Expiring?
Take Advantage of our token Renewal Prices!
How to Check your LPA Membership Expiration Date:
- Be logged in with your LPA username & password
- On the "Main Menu" (top right), click on "Your Orders" (right below your name)
- The beginning date of your membership will be listed to the left of your membership order # in this format: YYYYMMDD
*Your Membership Expired? No Problem!
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