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Landlord Newsletter Mid November 2008









"Of all the sites out there, the LPA by FAR has the most extensive resources, the most knowledgeable help, the most expertise, and is quite possibly the best real estate site I've used in my career."
Dr. Dani Babb, Author of "The Accidental Landlord". LPA Member since 2007.






"My LPA Membership has saved me from so many expensive tenant problems, it has already paid for itself many times over."
Louis C., LPA Member since February 2001.






"TheLPA.com emphasizes the three most important issues for a landlord's protection:
1. Screening and Tenant Selection
2. Using a Solid Landlord Lease
3. Lease Enforcement
Robert Irwin, Author of "The Landlord's Troubleshooter", "The Armchair Real Estate Investor and "Real Estate Tips and Traps", LPA Member since April 2007






The LPA not only lets you share your experience with other landlords, but it will also help to answer your questions.
Timothy Spangler, Author of "From the Rat Race to Real Estate", LPA Member since December 2003






The Web site was founded by John Nuzzolese, and he is a "nice guy" like we were when we started. He learned many lessons the hard way, like we did, and so you will benefit greatly from his experiences, and from being part of this group.
Kind regards,
Sandy Midea, Author of "A Fool's Guide to Landlording"






"The LPA Lease has become my favorite lease, and enforcing it with the Essential Forms is even better. Managing my properties (tenants) has become much easier."
Jack Klein, LPA Member since May 2001.






"The question should be ..." "Can you afford not to join The Landlord Protection Agency? I'm very thankful for all The LPA has done for us. At first we were intimidated by our tenants and the whole process of leasing and managing our rental property. Now we have 3 rentals with excellent tenants!"
Carol and Jim S., LPA Members since July 2003






"I'd like to thank Mr. Nuzzolese for sharing his landlording knowledge with us. I find it refreshing to be able to get down to earth articles and real life helpful advice on the LPA website.
Gary Smith, LPA Member since 2007






"I cannot express how your products have made my job so much easier. I have peace of mind now knowing that I am protected by the verbiage you have in your contracts. Thank you so much."
Tony Gramm, Aurora, OH

The LPA Newsletter
Mid November 2008

Dear Fellow Landlord,

In the spirit of Thanksgiving, I'd like to thank all of you who come to The Landlord Protection Agency website and share your real estate knowledge with those who need help. Years ago, there were no websites available like this where we could find the answers to our questions. We'd have to try to find an experienced landlord's brain to pick, or an attorney, or we had to learn by trail and error. The school of hard knocks! Especially, I'd like to thank all those LPA members who by joining or buying forms support our site and make it possible for us to help landlords everywhere.

In this newsletter:

  • Article: "Loan Modification / Forbearance" by John Reno, Real Estate Attorney
  • Asset Protection CPA Al Aiello & USLandCo's Lee Parker tell us about their FREE Webinar on an effective Asset Protection technique this Thursday (11/20)
  • Ask the Attorney, New Questions & Answers with Eviction lawyer, John Reno
  • Essential Form FREE download: Tenant Finder™ Pre-Screening Telephone Worksheet
  • Recent Tenant Excuses
  • 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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    LOAN MODIFICATION / FORBEARANCE

    In our current real estate market, we are faced with some of the highest foreclosure rates… ever. Not only are many people sliding into foreclosure on their homes, but the same thing is happening to real estate investors and landlords for a variety of reasons. Some of the reasons could be,
  • The adjustable interest rate went up so high the rents couldn’t keep up
  • Couldn’t get the property rented
  • The tenants stopped paying the rent
  • The owner lost his employment

    Regardless of the reasons, it is important to know that if you want to save your property, your credit and maybe your home, there are alternatives to foreclosure or having to sell pre-foreclosure.

    Below, Real Estate Attorney John Reno tells us about his services concerning Forbearance Agreements and Loan Modifications...


    Dear Sir or Madam: John A. Reno, Attorney at Law

    This is to describe some of the services that we offer for home owners facing foreclosure.

    Forbearance Agreements
    Some banks will put a hold on (“forbear”) the foreclosure in an attempt to help you catch up. After submitting a complete financial disclosure, they may allow the home owner to resume their normal monthly payment and pay something extra to catch up on the arrears. (The bank often requires a lump sum payment towards the arrears first, sometimes as much as 50%.)

    Modification Agreement
    This works better for home owners who can’t afford to resume the prior monthly payments plus an extra payment for the arrears....

    click for the full article...




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    Free Asset Protection Webinar

    FREE Asset Protection Webinar Thursday!

    With CPA Al Aiello & USLandCo's Lee Parker

    The majority of your wealth is not protected one iota from the biggest robber barons of our day, the trial attorneys. And if you think, because you run a scrupulous business, don't ever cut corners, have high integrity and therefore will never be sued, think again. It's not if you'll be the next target for a lawsuit, it's WHEN.

    And it doesn't matter if you're innocent of wrongdoing or not. What matters is just one thing, do you have something of value that the trial attorneys can get if they sue you on behalf of their client? And real estate is their largest prize! And for most of you, you have plenty enough equity in your home or in your other properties that you are a target - a huge target for a lawsuit!

    I've got some really good news, however. There's a very cheap, simple solution, so elegant, so inexpensive and full proof. No, I'm not talking about forming some complicated Family Limited Partnership umbrellas with multiple LLC's for every property underneath them and then multiple land trusts beneath them. No, this is a solution that is drop dead easy to implement and maintain.

    Elegant and effective. That's what I like about it. It's called equity stripping, because it literally strips the equity away from your properties - all of your properties. Without equity, the robber barons have nothing to rob! Viola, no target for lawsuits.

    Want to learn more? Then be sure to register for this very special FREE webinar coming up this Thursday, November 20th. The time for the call, along with the information of how to get on the webinar is on the registration page: Click Here To Register For The Free Webinar


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    Ask the Attorney

    The Landlord Protection AgencyThe Landlord Protection Agency® is proud to introduce John Reno, Esq., a highly experienced Landlord - Tenant attorney based on Long Island, NY.

    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


    Dear Mr. Reno:
    My last tenant was the worst I'd ever had in my 9 years of renting. I finally got him out only to find he had trashed to place. Suffice to say, I only returned $276 out of $1700 of his security with a detailed list and explanation of the deductions. It was mailed to him certified return receipt within 30 days and he signed for it. It's been almost 6 months now and he has still not cashed the check. Is there a time limit he has to cash it by? I won't call him, since I wasn't happy giving him anything at all after all the trouble and stress he put me through. I see no point in chasing him to pay him. I want to put a stop on the check. Do I have any legal right to do so?
    Mark in New Jersey

    A: Why would you stop the check? It's his money, isn't it? If he waits too long and the bank won't clear it, that's between him and the bank. Stay out of that one.

    Dear Mr. Reno:
    We signed a lease agreement 3 yrs. Ago for a 1 yr lease. We were never asked to sign a new lease. We have given a written 30 day notice to the landlord. They want to show the house while we are still living in it. Do they have rights to do this since there is not a current signed lease?
    Christy Smith, Texas

    A: It goes by the lease. But the lease is expired, you say, however, the terms of the lease continue, but on a month to month basis. I guess it's time to read it.

    Read more from John Reno, Eviction Attorney




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    Essential Landlord Form

    "It is far better to have no tenant than to have a bad tenant."

    I've been asked dozens of times in the last year to create a new form to help landlords ask the right questions on the telephone to help determine if the caller is someone you'd like to set an appointment to show your rental to. The LPA's new Tenant-Finder™ Pre-Screening Telephone Worksheet has developed from a simple prospect card into a handy and more complete screening tool for telephone interviews.

    Limited Time Only: Free Download for LPA Newsletter subscribers.


    Tenant FinderTenant Finder™ Pre-Screening Telephone Worksheet



    Have you ever met prospective tenants at your rental property, shown it to them, had them fill out a rental application only to find that they were nowhere near qualified? A simple pre-screening telephone interview can be a major time saver. Why not focus your attention on the most qualified prospects?

    Before giving out the address of your rental property and committing your time to a doomed appointment with an unqualified renter, you have a chance to more carefully evaluate which prospects are worth meeting with.

    I feel very strongly about strict tenant screening, which begins at First Contact with the tenant. First Contact is when you speak with the potential tenant for the first time, usually when they respond to one of your rental ads. At that point, you have the opportunity to learn what you can about this person's current situation. Are they employed? Can they afford your rental? Do their moving dates correspond with your rental's availability? Is their credit rating acceptable? And so on.

    After completing your Tenant-Finder™ Pre-Screening Telephone Worksheet, you can use the scoring area to evaluate your new prospect. Print up a pile of them to screen your next tenant!

    Eliminate bad tenant risks before spending your valuable time on them.
    "Eliminating a bad tenant before I even have to meet him is what I consider the cheapest eviction I can have!" - John@theLPA

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    HOLIDAY SPECIAL



    FREE
    LPA Membership Year

    Order a 5 year LPA Membership and get the 6th year Free!
    Includes the LPA Forms disk and immediate download access.
    Offer Valid until 11/30/08!
    (For only 9¢ a day - you get the edge on tenants for 6 years!)
    Happy Thanksgiving!

    Sign me up for 5 and give me 6!



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    Tenant Excuses

    "We put a deposit on another place. If we don't get accepted, we'll stay. Then I'll pay you." The only way they'll be accepted is if they lie on the application and/or if the landlord is a dumb as I was! - Tina in San Diego

    "The contractor called to reschedule the window job! Maybe if I hold back the rent, you set a fire under his @$$." The current windows aren't even bad. No good deed goes unpunished. I am contacting Mr Reno the eviction attorney if they give me any more problems! - Denise, S. Merrick, NY

    "I ain't paying no rent. You got black mold!" When the tenant showed me the "mold", it turned out to be a stain on the garage floor where her car has been leaking oil. She still didn't have the rent when I explained that it's not mold and she's responsible for the cleanup of the oil. - Thomas N., Golden Gate, FL

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    Quotations...


    eleanor roosevelt quotes Yogi Berra quotes Thomas Edison quotes Benjamin Franklin success quotes



    "If you pick up a starving dog and make him prosperous, he will not bite you; that is the principal difference between a dog and a man." – Mark Twain

    "When you’re playing against a stacked deck, compete even harder. Show the world how much you’ll fight for the winners circle. If you do, someday the cellophane will crackle off a fresh pack, one that belongs to you, and the cards will be stacked in your favor." - Patrick Riley

    "I know the landlord business can be a tough job, but easy jobs don't pay well." - Lou C., LPA Member

    "If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed." - Edmund Burke: Statesman, political theorist and philosopher

    "How much did your last tenant problem cost you?"
    - John Nuzzolese

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    Books by LPA Members

    The Landlord Protection Agency is proud to recommend the following landlord books written by LPA Members, Dr. Dani Babb, Robert Irwin, Timothy Spangler, Tony & Sandy Midea and Dan Auito. Just click on the book for more information about it.






    real estate investing, landlord books





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    Report bad tenants to the National Tenant Rating Bureau or Deadbeat Database

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    landlord books, landlording, landlord information, landlord tenant law, evictions



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