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Landlord Newsletter October 2010

The LPA Newsletter
October 5, 2010

Dear Fellow Landlord,
I'd like to introduce to you fellow landlord, author and LPA member, Mr. Drew DeMasters. Drew has written the just released landlord book, "Landlord Marketing Secrets". I believe you will enjoy his article, "Is Renter Turnover Killing Your Profits?"

In this issue:

  • Is Renter Turnover Killing Your Profits? by Drew DeMasters
  • Ask the Attorney, Real Estate Attorney, John Reno
  • Landlord Tip, by Lambert Munz
  • FREE FORM DOWNLOAD: Standard Lease Addendum
  • "Wealth Secrets and Success 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


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Is Renter Turnover Killing Your Profits?

By Drew DeMasters
Landlord Marketing Secrets by Drew DeMasters

You probably agree that almost nothing is worse than having an empty rental property. Two kinds of costs can hit hard: real costs (like utilities, taxes, maintenance, and cleaning) and opportunity costs (like lost rental income and higher risk of crime).

In this business, we call it the "occupancy rate". But that's kind of a cold, impersonal statistic. We can't really tackle the problem until we stop thinking at the property-unit level and start thinking at the customer level: each of your individual renters who occupy your properties. Here's a three-point plan to reduce renter turnover.

  1. Customer satisfaction.
    Do you really know your renters? You should. How they found you, why they chose to rent from you, if they are satisfied with their experience, if they will recommend others to your properties.

    Answers to these questions are valuable insight you can act on to learn more about who your renters are. But most importantly, it gives you the chance to understand why customers might be leaving you and if there's anything you can do to prevent it. (there always is, by the way) It's often because of loud or annoying neighbors, petty crime, or a slow response to maintenance needs. These are things that push your renters to the breaking point, and rightly so...

    click for the full article...

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    Need to Add Anything Important to Your Lease?

    Free Download
    Standard Lease Addendum Form

    You can make additions or amendments to your lease agreement with an addendum signed ny the landlord and tenantLease Addendum
    This is a standard lease addendum form used for making additional information or clauses a part of the lease. When meeting with the tenants to do a lease signing, we often think of certain rules or clauses we'd like to add into the lease agreement. Most leases and rental agreements do not provide room for extra lease clauses (unless you are using The LPA Lease Agreement in word processor format) The lease addendum form can easily be filled in at the time of lease signing with topics that are important to you that may not be already included in the lease agreement form. It's a handy form to have in your folder if the need arises to add any special clauses to your lease.



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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.

    John Reno also does Mortgage Loan Modifications (Nationwide).
    (Mention The LPA for a 10% discount!)

    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.


    Dear Mr. Reno:
    Hello, my tenant of 10 months just left, no words, no nothing, I have two month security on her. She is two weeks late paying the normal rent. what proceedings should I start with. I have left messages and knocked on her door, every day now. She may have left the country, she has not reported to work in 3 weeks as well.
    Any advice so I may start the proper paper work would be appreciated. Thank you,
    Michelle H.

    A: You say she "left". Based on what? If she has abandoned the premises, then you don't have to evict her. Are her clothes still there? You may have to break in to find out. Have a copy of your deed in your pocket in case the cops happen to pass by during your burglary. They'll understand if you're the owner. (If her stuff's still there, you may have to evict her for non-payment.)

    Read more from John Reno, Eviction Attorney



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    Landlord Tips

    By Lambert Munz MPM, RPM, Arbour Real Estate Mgmt, Inc.

    Author of House Investor's ManualLambert Munz, MPM, RPM, Arbour Real Estate Mgmt, Inc.

    TENANT SELECTION
    Don't rent to family or friends. Don't become buddies with your tenants. Be friendly, but don't socialize. You are operating a business and family or friends emotionally interfere with good business judgment.

    Interested in a relaxing Hawaiian getaway?
    Please check out HawaiianVA.com My wife, Judy Munz, Hawaiian, is director of this site. Everyone needs a vacation including landlords. - Lambert Munz



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    Wealth Secrets and Success Quotes

    "Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude." - Thomas Jefferson

    "You can never solve a problem with the same kind of thinking that created the problem in the first place." - Albert Einstein

    "Without knowledge and a workable plan, you are gambling, with little or no chance of success." - Robert G. Allen

    "The winners in life think constantly in terms of I can, I will, and I am. Losers, on the other hand, concentrate their waking thoughts on what they should have or would have done, or what they can’t do." - Denis Waitley

    "How much did your last tenant problem cost you?" - John Nuzzolese (The LPA)

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    Quick Check Credit Reports, Inc.

    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,
    • NO membership fees,
    • NO compliance fees
    • Just lower prices!


    Special Tenant Screening Discounts for LPA members. See our price list!



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    FREE LPA Gift with Book Purchase!

    Click here to order Dani Babb's Book,The Accidental Landlord Fellow LPA Member, Dr. Danielle Babb is a national real estate expert and author of the new Landlording Book, "The Accidental Landlord".

    Get your copy now... with a FREE BONUS! from theLPA.com

    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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    CD of landlord forms

    FREE BONUS - FORMS DISK
    comes with all 2 - 5+ year LPA Memberships

    Be a more powerful landlord - able to handle just about any landlord / tenant situation in a professional way, saving you time and money.
    ALL FREE with LPA Membership!


    Yes, this offer also applies to LPA membership renewals!
    Having all the forms all on disk is a handy time saving convenience.


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    NEW SITE FEATURE: PICTURES!
    Worth A Thousand Words!

    The LPA's Rental Advertising division,"Landlord's Corner" allows you to include up to 6 pictures (thumbnails and full size pictures) in each rental ad.

    (UNLIMITED FREE ADS come with LPA membership!)

    LPA members: FREE!

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    LPA Membership Expiring?
    Take Advantage of the Renewal Prices!

    How to Check your LPA Membership Expiration Date:
    1. Be logged in with your LPA username & password
    2. On the "Main Menu" (top right), click on "Your Orders" (right below your name)
    3. The beginning date of your membership will be listed to the left of your membership order # in this format: YYYYMMDD


    NEW! Save Money with our Promotional Membership Renewal Prices!
    *Your Membership Expired? No Problem!



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    Electronic Rent Collection

    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.

    If you haven't done so already, please check out



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