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Landlord Newsletter November 30, 2011










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The LPA Newsletter
November 30, 2011

Dear Fellow Landlord,

In this issue:

  • My Top 10 Landlord Blunders
  • 2 FREE Landlord Forms!
  • Ask the Attorney, Real Estate Attorney, John Reno
  • 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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My Top 10 Tenant Blunders

By John Nuzzolese

If I shared all my mistakes as a landlord in one article, you'd get tired of reading it before the first hour, so I'm limiting it to only ten big mistakes that made me want to kick myself. Some of my mistakes are very common to many landlords, but most are the result of me trusting the wrong people. In this business of being a landlord, we eventually learn that trust has to be earned. We just shouldn't trust everyone we meet.

Below I've listed "10 Landlord Mistakes to Avoid" that happened to be important lessons for me in being a better Landlord!
I made most of these screw-ups many years ago, but some are easy to repeat in a bad rental market. That is why I still say, "Nerves of steel- It is better to have NO tenant than a BAD tenant."

  1. I failed to check the tenant's ID!
    I knew something was wrong when the rent for the second month was a challenge to collect. After a few months I learned the tenant's real name from a neighbor! I knew God loved me when he was arrested by the FBI for fraud.
  2. I skipped the credit report!
    They seemed like they had it all together. Well dressed, nice car, the application checked out...
  3. I trusted a fellow landlord and Realtor
    who "vouched" for the tenant! - Now whenever a fellow landlord or Realtor "vouches" for a tenant, I ask them if they will be comfortable co-signing. Trusting a fellow Realtor? I should have known better. No offense to the many hard working honest fellow Realtors out there!
  4. I allowed a tenant to do home improvements.
    Just because someone tells you he is "handy", doesn't mean he really is. I still have nightmares about the unauthorized homemade shower stall in the front coat closet... hose...linoleum...holes drilled draining into the basement... aaaaah!
  5. I didn't increase the rent for fear of "rocking the boat"!
    Even a small modest rent increase like $10. is better than none at all. In fact, if you are determined to do NO increase, at least send an increase letter to make a point that because of rising carrying costs, there should have been an increase but you are forgoing the increase because of their fine tenant performance.
  6. I waived the late fee!
    Just trying to be friendly and avoid confrontations. Build a good landlord tenant relationship... Ha! What a fool I was! You've got to read my article on collecting late fees from tenants who won't voluntarily pay it....

click for the full article



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Preparing Your Rental for Winter

Preparing your rental property for winter can save you large sums of money and inconvenience. A good Winterization Checklist for your Tenant can help prevent common wintertime problems that usually arise through neglect and ignorance.

Prevent Plumbing Freezes
Disconnect and drain garden hoses. Most frozen pipes are a result of failure to disconnect hoses or turn off shut off valves. If you have shutoff valves for your hose spigots in your house or basement, don't forget to turn them off. Insulate any exposed plumbing pipes.

Heating System
Have your heating system inspected and/or serviced. (Your service contract with your heating company should cover this at no charge.) Make sure you have plenty of heating fuel. Do not allow oil to run low - you run the risk of running out and freezing pipes. The bottom oil sludge in your oil tank causes clogs in your oil line and nozzle.

Windows & Doors...

read more or download a free Winterization Checklist form:


Free Download!

Free Download
Winterization Checklist for Tenant

Protect your rental property from tenant negligence!



Free Download
Snow and Ice Notice & Reminder

If your tenants are not keeping up with their snow removal responsibilities, don't forget to send them a Snow and Ice Notice & Reminder!




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Ask the Attorney

The Landlord Protection AgencyThe Landlord Protection Agency® presents 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!)

Dear Mr. Reno:
We just started eviction of tenant due to unpaid rent. Home is in Cooper City (Broward), Florida. Gave 3 day notice, then after required wait, complaint for Tenant eviction notice giving them 5 days to comply. Tenant moved out when served and left key under mat. Not quite sure what process to take to ensure the landlord has the ‘chance’ of receiving owed rent, and what needs to be done to report this on the tenants credit.
hanks,
Juan, FL

A: When you file your money judgment with the County Clerk, that automatically goes on their credit. As far as collecting, good luck with that!

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.

Read more from John Reno, Eviction Attorney



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Success Quotes

"Success is often killed by a four letter 'F' word: F E A R. Face your success killing fears. They are never as bad as you imagine them to be." - John Nuzzolese

"It is in your moments of decision that your destiny is shaped." - Anthony Robbins

"Success is how high you bounce when you hit bottom." - General George Patten

"The trick is to make sure you don't die waiting for prosperity to come." - Lee Iacocca

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



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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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Did You Know...?
If you ordered any LPA forms in the past 60 days, the LPA will credit back to you the cost of those orders when you email us your new LPA Membership order #.

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How to Check your LPA Membership Expiration Date:

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  3. The beginning date of your membership will be listed to the left of your membership order # in this format: YYYYMMDD


*Your Membership Expired? No Problem!



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