Landlord - Real Estate Investor Newsletter - June 2, 2015

Dear Fellow Landlord,

Have you had a bad tenant at any time in the last year? I've spoken to some fellow landlords who say they have not had any tenant problems in years, but they didn't consider non-payment or eviction a problem! What?? Of course non-payment counts as a problem! A BIG problem! And problems like that almost always stem from poor tenant screening!

In this newsletter:

• 5 Key Facts of Tenant Screening
  
• Free Landlord Form: Criminal Background Authorization & Release
• Landlord Do's & Don'ts : Tenant Move-Out
• Ask the Attorney, Real Estate Attorney, John Reno
  
• Excuses, Excuses
  

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

Why do experienced landlords who know how to screen tenants still get bad ones? They understand the rental housing industry, have a system of tenant screening, have a good rental application, have access to get credit reports, charge screening fees, and more, but for some reason still find themselves in eviction court! Why?

In order to secure a good tenant for your rental, it is critical that we practice proper tenant screening, but it is also important to understand some of the Secret Facts of Tenant Screening.

What Are "5 Key Facts of Tenant Screening?"

Most people think that tenant screening is a quick little investigation starting with a rental application and ending with an approved credit check. Not true! A full screening begins at the point of First Contact when the tenant first responds to your rental ad. It continues through the showing process, the application process, the verification process and the review process all the way through to the very end of the lease signing process. At any time during this entire period, a landlord may find a reason to disqualify a prospect.

Fact # 2: All tenants feel they deserve as much as they can get from you.

That doesn't make them a bad person. It's just business and understandable, so always keep that in mind and try to remember that in order to have a happy tenant who stays and respects you and your property, you must provide them with a quality rental they are happy to keep paying for each month. A good deal. Oh, and because you're a good person, try to keep your charitable instincts under control. (As much as possible. Remember, this is business.)

Fact # 3: You can count on predictable responses during the screening process.

I usually try to get prospective tenants to show their "true colors" as early as possible. This is an enlightening and time saving practice, whether it is positive or negative.
By mentioning that a credit check is required or that the management reports rent payments to the credit bureau, you may get an idea of how the prospect feels towards his or her credit. For example, sometimes asking for pay stubs or tax records can ruffle feathers or not.

Fact # 4: There are 3 factors in every rental negotiation ....

Click here for the full article

The Criminal Background Authorization & Release Form helps you find out if the tenant is being up front with you. It gives them the opportunity to tell you if there is any criminal history that may come up on a background check. Not only will you have the tenant's full authorization to do a criminal report with law enforcement agencies, you also have the written authorization required to obtain a credit report.

The fact that the tenant has nothing to hide and is willing to release credit and criminal (if any) history to you shows good faith and cooperation in the screening process.

This form can be used in addition to the LPA Rental Application or independently for the purpose of tenant screening authorization.

FREE DOWNLOAD The Criminal Background Authorization & Release Form

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:
My tenants were evicted due to non-payment of rent. They did pay a portion but unable to provide full amount due. I want to try and recover the balance owed plus some damages left after moving, cost of not being able to rent due to time it will take for repairs, and cleaning fees. Most, if not all issues, are covered in signed lease. How and where do I go about this? Thank you.
Carol - PA.

A: The tenants are no longer in possession so the eviction court has no jurisdiction. It's a small claims court case now. Twenty dollar filing fee. Good Luck.

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.

What The LPA says you should do and what you shouldn't do about:

Tenant's Move-Out

• Have a signed & fully documented Property Condition Report
  
• Have the tenants prepared with a Tenant's Notice of Intention to Vacate Letter
  
• Use a Security Settlement Statement to itemize deductions and to accompany the return of the tenant's deposit.
  
• Use a Security Settlement Challenge Crusher letter to deal with any complaints about deductions from the deposit.
  
  

• tell the tenants that they will not be getting their security deposit back- let them see that on the Security Settlement Statement.
  
• return any security deposit until after tenant vacates and the rental has been inspected for damages
  

"I thought I was supposed to pay you at the end of the year in full."

"I have company from out of town staying with us a couple of weeks. You know how it is."

"I didn't do any of that damage. My kids did all that. You know, how kids are? Kids will be kids."

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!

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