Landlord Newsletter August 28, 2012

Dear Fellow Landlord,

What can happen if you keep security deposit money and don't use a Security Deposit Settlement Statement? All I can tell you is that every time I break one of my own rules, I usually live to regret it. Keeping security money can be a touchy subject, especially these days! Do you think a tenant will not try to sue you for their deposit money back?

You may say, "But I'm right and they were totally wrong. They wrecked my place!"
Yes, but can you prove it with pictures, video and a Security Settlement Statement documenting all your costs and expenses?

In this newsletter:

• The Importance of The Security Settlement Statement
  
• Free Form - Eviction Ramifications Notice
  
• Ask the Attorney, Real Estate Attorney, John Reno
  
• Where's the Rent? Excuses by tenants
  

Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month and an even more successful year ahead.
John Nuzzolese
John@theLPA.com

The Security Deposit Settlement Statement may be used with or without a Move-In/Out Property Condition Inspection Report.

One of the most essential forms for a landlord today is the Security Settlement Statement. It is required by almost all states to settle the security deposit after a tenancy has ended. This form alone has enabled us to make valid deductions (saving us tens of thousands of dollars in damages over the years) from security deposits while minimizing objections from tenants.

Don't get me wrong, we are not out to unjustly take security money from tenants! But when deductions need to be made, this form can be a miracle worker. Why? Because it itemizes valid deductions on paper in black and white and now becomes much more difficult for your former tenant to argue with the facts.

No more arguing with tenants about their security refund!

In the past we've all made some real bloopers of mistakes. How about one of the most common mistakes that many landlords still do all the time and haven't yet found a better way? ...

Click to read the full article

FREE DOWNLOAD Eviction Ramifications Notice Sometimes your tenant doesn't really grasp the consequences of a full blown eviction. This eviction letter explains the immediate and future drawbacks that an eviction and its aftermath will cause to tenants and how damaging it can be to their lives. I like this form because of the positive results it creates by briefly educating the tenant!

Have you ever been beaten by a tenant on the rent? Most of us have and unfortunately, it is one of the costs of doing business as a landlord.
On the brighter side, remedies are available for many. If you have documented your tenancy with the proper paperwork including a rental application, lease agreement, late notices, etc., you may have a chance of collecting.

Credit bureau reporting is an option in which many modern landlords are beginning to participate....

Click here for the full article

LABOR DAY Weekend Promotion 2012!
Did you Know?Until Labor Day became a federal holiday in 1894, laborers who chose to participate in parades had to forfeit a day's wages. - History.com

$10.00 OFF COUPON CODE!

The 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:
I am the landlord of a commercial condo here in California. I have served a 30-day notice to my tenant to vacate the premises on September 30 and we have a month by month lease agreement. The rent is due on the 15th of each month, is it O.K. for me to serve the 30-day notice on September 3, or do I need to wait until October 30 to serve the paper (the tenant had paid the rent on September 15)? If the tenant doesn't move after 30 days, what should I do next? Thank you so much for your assistance in this matter.
Alicia, CA

A: This is the trick. If the rental month starts Oct. 25th, you would serve the Thirty day notice prior to Sept. 15, so you're too late. Serve prior to Oct. 15 for Nov. 15.

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.

"You didn't respond to me when I emailed you to fix the drip, so why should I jump through hoops now just 'cause you want the rent?" I never look at my email and never even gave them my email address. - Theresa and Carol, NY

"My landlord told me to forget about the rent." My ex-tenant told this to the judge. I almost spit out my teeth! I won the judgment. - Sunny1 from Angola, NY

"I was in jail for 30 days and wasn't even there this month! Why should i pay if i wasn't there? Only my dog was there so maybe i will pay a small portion of the rent since he is a small dog!" -David L. Kona, Hawaii

"You'll have to wait. I'm busy and I don't have time to look for my checkbook." - Stephen, VA

"There are rust stains developing on the toilets and they won't come out. My plumber says you need to replace these two toilets, so I will hold back the rent for the two new toilets." Uh, sorry. Not gonna happen. I issued an LPA Urgent Late Notice Eviction Status Warning| The rent was paid the next day. Haven't heard another word about the toilets. - Steven, Naples, FL

Not only is Danielle Babb our county's most knowledgeable real estate analyst, she's also an LPA member!

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
   

If you haven't already, please take the opportunity to sign up for The LPA's Quick Check Credit Reports! Quick Check is a simple, fast way to access online credit reports while saving you money!

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