If you missed the Free Downloads and Articles of our last newsletters, click here for our Newletter Archive
Please e-mail us if you have any questions or would like to add or share any material / information. I know it's a tough winter rental market for many of you as it is with me, but just take it step by step and don't give up. Remember, it is better to have No tenant than a Bad tenant!
Wishing you the best of success,
John Nuzzolese
John@theLPA.com
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Landlording Quick Quiz
You know this stuff, don't you?
1. To be enforceable, a lease must be:
2. Select the phrase you should avoid when encountering one of your tenants.
3. An example of Constructive Eviction is when
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Landlord Do's & Don'ts
Topic: Late Rent
What The LPA says you should do and what you shouldn't do:
DO Be quick to send a late notice as soon as the rent is late. Very often, landlords don't want to seem too eager for the rent that they will give the tenant an extra day or two. That procrastination usually turns into at least a week. Before you know it, the tenant is in serious violation of the lease. That's why we have to be on top of the rent right away. Be ready to use these forms in order:
Notice of Past Due Rent
Urgent Late Notice
Notice to Pay Rent or Quit
DON'T be a procrastinator.
DON'T get into any heated discussions with the tenant.
DON'T fall for the old sob story routine.
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Collecting Money Owed by a Tenant
by Attorney William Bronchick, Legalwiz.com
Did you ever have to evict a tenant for non-payment of rent, then get stiffed for the bill? You may be able to collect what is owed to you, even years later.
First, you need a court-ordered money judgment. If you filed for an eviction in court, you received a judgment and order of possession. The actual name of this court order may change slightly from state to state, but it's the same thing - a document signed by a judge that permits a local sheriff or constable to forcibly remove the tenants from the property.
In most states you can also get a money judgment against the tenant, but this requires one of two things: 1) the tenant must have been personally served with the court papers or 2) the tenant must have shown up in court. If the eviction papers (the court papers, not the notice to pay rent) were posted on the door of the unit and/or mailed to the tenant, you generally do not get a money judgment from the court.
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What About Security
Deposits?
If you have a
security deposit
from the tenant, you
can apply that
against anything he
owes you for back
rent or damages.
However, you still
must comply with
state law for
notifying the tenant
of your intent to
keep the deposit.
Even if you return
the security
deposit, you can
still sue the tenant
for actual rent owed
and/or damages
incurred to the
unit.
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If the tenant left before the court date or you did not otherwise get a money judgment, you can always sue the tenant in your local small claims court for money owed and any damages to the property. The process is quite simple, and does not require a lawyer. You have to file the claim before the end of the statute of limitations, which generally ranges from three to six years, depending on which state you live in.
Once you have a money judgment, you can collect it against all non-exempt assets of the debtor....
click for the full article...
Printer
Friendly Version of this Article
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Have you ever argued with a tenant about their security refund?
This form alone has enabled us to make valid deductions (saving us tens of thousands of dollars in damages over the years) from security deposits without a hassle from the tenants.
The LPA Security Settlement Statement
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FREE DOWNLOAD
Settlement Charges Guide
"Support your deductions from security deposits and encourage tenants to leave your rental clean and undamaged.
"What many tenants consider "normal wear & tear" are really damages and neglect that they should pay for." - John Nuzzolese
Alerts the tenant before or after tenancy what kind of moveout 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.
Settlement Charges Guide
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America's #1 real estate expert is also an LPA Member!
The Landlord's Troubleshooter and more Real Estate Books By Robert Irwin
Robert Irwin is the bestselling author of more than 50 books on real estate. His career in the real estate industry encompasses more than three decades of experience as real estate broker, landlord, and consultant to lenders, agents, and investors.
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Books by LPA Members
The Landlord Protection Agency is proud to recommend the following landlord books written by LPA Members, Robert Irwin, Timothy Spangler, Tony & Sandy Midea and Dan Auito. Just click on the book for more information about it.
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LPA Membership Expiring?
Take Advantage of the 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
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NEW! Save Money with our Promotional Membership Renewal Prices!
*Your Membership Expired? No Problem!
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Earn a 10% commission on all
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Join The LPA Affiliate
Program!
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This offer also applies to 2-5 year Membership Renewals!
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The LPA's
Free Bonus for all LPA Members.... Click for more information.
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