Landlord Newsletter July 2010 - Eviction?

Dear Fellow Landlord,
I learned (the hard way) that evictions are not such a bad thing. They are nothing to fear and can be quite liberating!

In this issue:

• Article: The Top 5 Reasons Landlords are Afraid to Evict
  
• Ask the Attorney
  
• Landlord Do's & Don'ts
  
• Wealth Secrets & Quotes
  

Please e-mail us if you have any questions or would like to add or share any material / information.
John Nuzzolese
John@theLPA.com

The Top 5 Reasons Landlords are Afraid to Evict

Many landlords are so afraid to evict a tenant that it costs them far more in the long run that it would to just bite the bullet and go through with a legal eviction.

Let's face it. Evictions are not a pleasant part of the business. Collecting rent on time is. Having your rental property cared for by a tenant who pays the rent is essential to being a successful landlord. But what about when things don't go so well? When tenants don't abide by the agreements made in the lease?

I always say, "It is better to have NO tenant, than it is to have a BAD tenant." I say this because I would rather have an empty rental property than one with a deadbeat loser who:
a) doesn't have the integrity or responsibility to honor his agreement,
b) is stealing from me and my family for every day he gets away with not paying the rent,
c) is costing me time and aggravation in managing a hopeless tenancy.

Most landlords can't afford to be good samaretins who provide free housing. The rent needs to be paid or they will lose the property they worked so hard to acquire in the first place.

So What Are The Top 5 Reasons Landlords are Afraid to Evict?

1. Fear of the Unknown I've noticed that landlords who have never experienced evicting a tenant in court before will do whatever it takes to avoid the eviction process, even at greater cost to themselves than an actual eviction would cost. I've also noticed that landlords who have evicted a tenant in the past are more willing to evict again when it needs to be done. Experienced landlords know that evictions should be started immediately, once the tenant can not cure his default on the agreement.

2. No Attorney "I don't have an eviction attorney" and "an attorney is too expensive" are common excuses for not starting an eviction ...

The 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
Please try to keep your questions as short and to the point as possible.

Landlord Do's & Don'ts
After the Tenant has Moved

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

• 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- they will be resentful and possibly more destructive on the way out. Let them see your deductions on the Security Settlement Statement after they've left.
  
• return any security deposit until after tenant vacates and the rental has been thoroughly inspected for damages
  

"It is better to have NO tenant than it is to have a bad tenant." - John Nuzzolese

If you view all the things that happen to you, both good and bad, as opportunities, then you operate out of a higher level of consciousness. - Les Brown

"Routine brings results. A disorganized genius is no match for the average person with a daily routine." - Robert Allen

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

The LPA's Newest Credit Report Affiliate!

Quick Check Credit Reports, Inc. is proud to announce its affiliation and partnership with The LPA in helping landlords protect their interests by better screening tenants at lower costs!!

• NO sign-up or set-up fees,
  
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• NO compliance fees
  
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Not only is Danielle Babb one of our county's most knowledgeable real estate analysts, she also shares excellent landlord information and advice in her book, "The Accidental Landlord". Plus she's a super nice person! - John Nuzzolese

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LPA members have been asking me for a while now about how to set up automated rent payments with their tenants. I'd like to bring your attention to ClearNow, the leader in electronic rent collection. ClearNow enables you to have your rent automatically withdrawn from your tenant's bank accounts and directly deposited into your bank account.

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