Whether you're an old pro, or you just became a landlord, I want you to know that you can avoid most of the headaches that many landlords face. Through the use of our forms and the advice of our experienced and knowledgeable fellow LPA members, The LPA serves as a great support group to help you come out on top.
Recent Success Quotes
Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month.
John Nuzzolese
John@theLPA.com
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Attention LPA Landlords!
Dr. Danielle Babb, national real estate expert and author is also a fellow LPA member.
Please share your landlording thoughts. Everything from pets to renting to friends, take this short survey and help Dani collect data! Horror stories and great stories welcome too! Be a part of Dani's next book! All responses will remain anonymous, unless you list your name with a comment and you specifically ask to be referenced. :)
Click here to Take Landlord Survey
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Ask the Attorney
The Landlord Protection Agency® is proud to introduce John Reno, Esq., a highly experienced Landlord - Tenant attorney based on Long Island, NY.
The firm of Reno & Artura has engaged in Landlord / Tenant practice in the District Courts of Nassau and Suffolk for the last 20 years. We pride ourselves in prompt legal action and direct client service.
Over ninety percent of our practice in the Landlord Tenant courts consists of evictions of tenants, primarily for non-payment of rent. We also assist landlords in preparation and/or review of leases and consultation on other matters affecting the Landlord - Tenant relationship.
We find that Landlords who contact us have often waited too long to commence an eviction, usually in an understandable effort to resolve problems amicably. Landlords need attorneys who will not compound the problem with unnecessary delays or expenses. For this reason, our main priority is immediate action. In most cases, we commence an eviction within 3 days of being hired and have our client's cases in Court within 7 to 10 days of being hired.
If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
Dear Mr. Reno:
A recent tenant just moved out. I with-held part of the security deposit for carpet cleaning because the job she had done was not acceptable. An attachment to the lease, I thought, gave me that right. She is threatening to take me to small claims court. Now after she is out we found more damage and items in need of repair or replacement. I have photo's to document these things, and all broken items remain on the property. If she takes me to small claims court, can I counter-sue her for the damage found after I already returned part of her deposit? What kind of options do I have in this matter?
A: A big part of what goes on in small claims court is precisely the situation you describe. The landlord deducts damages from the tenants security; the tenant brings a small claims action; and the landlord counterclaims for more damages. As long as you have PAID BILLS, you should prevail, even for damages beyond what you originally deducted. NOTE: you will not be reimbursed for your time or your own labor. Only your out-of-pocket expenses are recoverable.
click for more from John Reno, Eviction Attorney
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Why Do Real Estate Investors Quit the Business?
The Secret Career Killer Facing Real Estate Investors
So, you want to be a real estate investor? You are probably thinking the way I did when I started as a real estate investor. I thought the most important objective was to buy as many properties as possible. Well, I was only half right.
As an investor in residential real estate, being able to purchase properties that will allow you to make money is paramount. While there are various methods you can use to make your real estate fortune, the two most common plans are quite simple.
Buy and flip. This is when you purchase a property and sell it for a higher price. Many investors will find “Handyman Specials” or “Fixer Uppers” at a low price to improve and sell at a higher price. Sometimes you are fortunate enough to find an excellent opportunity requiring little or no work, only to resell for a quick and easy profit.
Although this is a common way to make money in real estate, many investors choose not to sell their investment property.
Buy and hold. This is when the real estate investor becomes a landlord in order to enable the investment property to generate income. Holding onto the property is also a way to allow the investment to appreciate in value over time. Why? The demand for residential real estate continues to grow and people are willing to pay top dollar for a place to live. What can be better than that? You have an asset appreciating in value plus you also have a tenant to pay your expenses on the property. You may even have a positive cash flow.
So what is "The Secret Career Killer Facing Real Estate Investors"? Before I answer that question, let me ask you,
- What happens when you put investment properties together with tenants?
- You get a landlord tenant relationship. I wish I realized the ramifications earlier.
Tenant problems are the one of the biggest reasons, if not, the biggest reason most landlords quit investing in real estate and sell their rental properties way before benefiting from one of the best features of owning real estate: appreciation.
It is just as important to learn the secrets of landlord protection and property management as it is to know how to accumulate rental property. Let me say it another way: Without knowledge of landlord protection, you as a landlord, are in big trouble!
Think about how much money people spend on books, seminars and trial and error learning about buying real estate. It’s incredible! I invested so much money learning creative ways to buy property. How about you? How much have you invested learning to be an efficient landlord? Most landlords learn their lessons the hard way like I did. Fortunately, now there are some books and websites on landlord topics that can shed some light on the subject and allow average landlords and “Newbies” to become educated and aware of their legal rights concerning landlord – tenant relationships.
What good is struggling and sacrificing to own a lot of properties only to bail out because of overwhelming tenant problems?
Get educated in the art of “landlord protection”. Learn how to avoid tenant problems so you can keep buying more investment property.
The three most important landlord issues to learn about for your own protection are:
- Screening and Tenant Selection
- I always say, “95% of tenant problems can be eliminated in the screening process!" It really is so true. A lot goes into screening a tenant properly, so try not to jump into any lease agreements without doing your homework first. The article, How to Screen Tenants in 5 Easy Steps will help you break down what to do when it comes to screening your potential tenants. The idea is to make the screening process as simple as possible for you while helping you to eliminate the unqualified prospects and focus on the more promising ones.
- Using a solid landlord lease
- One of the keys to a good landlord – tenant relationship is having both parties involved come to an understanding and agree with the terms in the rental contract. All too often we hear of and see tenant problems that could have been avoided if only the parties had used a better lease agreement. The problems usually stem from an issue that the lease should have covered, but did not. Most of the traditional leases are designed to make both parties happy, especially the tenants. Conventional leases are politically correct not to offend tenants and often leave the landlord wide open and prone to problems with the tenancy. Unless the landlord takes steps to protect himself in his lease agreement, the law will offer the tenants a strong bundle of rights giving them a legal advantage.
- Lease Enforcement
- Even with the greatest lease agreement in the world, a landlord faces a myriad of potential tenant problems...
click for the full article...
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FYI ...
Q: Do I Need the Tenant's Signed Authorization to Get Only his Credit Score?
A: Yes. In order to access the subject's credit information to find the score, you do need written authorization as if you were ordering a credit report. Obtaining someone's credit score will also result in an inquiry on their credit report.
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Credit Bureaus Requiring On Site Inspections - What's the Deal?
Why have credit reports become so difficult to obtain for landlords? Why are the major credit bureaus requiring landlords to submit to and pay for an annual On-site inspection?
In the past year, Credit Reports have become more difficult to obtain for the average Landlord because the security of several large credit bureau databases had been compromised causing consumer information to be used for fraudulent purposes, such as Identity Theft. The Federal Trade Commission has mandated that the Major Credit Bureaus increase security measures in order to protect Consumer Privacy.
As a result all Tenant Screening Companies must conduct an annual physical site inspection on each landlord that wishes to obtain a Consumer Credit Report. The site inspection usually consists of a local real estate broker or appraiser coming to your place of business or home to verify your physical location and that you keep your credit report files in a safe locked file.
What does this mean to you, the landlord? TheLPA affiliates offer alternatives to the on-site inspections.
Our LPA affiliate, offers credit reports with no site inspection requirement for private landlords. Our other LPA affiliate, TVS offers "Credit Decision" reports as an alternative to credit reports.
The address of our credit report page is: https://www.thelpa.com/lpa/credit.html I hope this information helps.
Credit Reports
NO ONSITE INSPECTION for Private Landlords - FREE SIGNUP
FREE SIGNUP ... Instant Online Credit Reports ... Criminal Reports ...
NO ONSITE INSPECTION for Private Landlords ... Low Prices
For more information Click Here
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Tenant Excuses
"You have 2 months security deposit! Take it from that!" Security is not rent. The lease states that. The matter of non-payment is already in my attorney's hands. - Mario L., Monks Corner, SC
"I got a great deal on this widescreen TV. I got you one too. I had to take yours off the rent, though 'cause I didn't have enough cash."
I don't watch TV. I want the rent now! - Jeff R. in Kentucky
""I don't have any money because I've been taking care of my sick mother instead of working". Says this as he's holding a case of beer in each hand."
Amy, Maine
"I have relatives who want to help me purchase the house."
- The house is not for sale. I want the rent and the late fee. - James and Mercedes in NY
"The toilet sounds funny. I don't like it."
- They are used to the flushometer toilet from the tenement they moved from. Normal toilets will take some getting used to- but it's NO reason to withhold the rent! - Marie, Uniondale, NY
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Quotations...
"A mind stretched to a new idea never goes back to it's original dimension."
- Oliver Wendell Holmes
"Fail to prepare? Prepare to fail."
- Unknown
"You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you."
- Dale Carnegie
"How much did your last tenant problem cost you?"
- John Nuzzolese
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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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Make money as an LPA Affiliate!
Starting 6/1/07: We're DOUBLING your referral fees so you can earn twice as much!
No more 10% referral fee, it will now be 20%!
Earn a 10% commission on all
orders placed with The Landlord Protection Agency by customers that you
refer to us!
You get paid for each order placed through your specially coded internet address for The LPA site!
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Program!
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