The LPA Newsletter December 12, 2012
Thank you again for supporting The LPA. If you are not already taking advantage of all the benefits included in LPA Membership, I'm offering a Holiday Special Coupon code: FREE LPA Membership Year and a Free Landlord Book along with any new 5 year membership or renewal! On behalf of the staff at The LPA, we wish you a happy and safe Holiday Season!
In this newsletter:
- Red Flags during Tenant Screening from Pre-screening to Lease Signing
- LPA Holiday Membership Bonus: Free Additional Year + Free Book Coupon Code
- The Truth Behind what Some Tenants May Say
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
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 After a while in the landlord business, showing rental properties to many tenants, you tend to hear some of the same questions and statements again and again. The screening process is alive from the moment you first speak with your new prospects until the leases are signed and the money is paid, so you must keep your eyes and ears open for clues and telltale signs of whether your prospect is the right tenant for your rental.
10 Red Flag Questions or Statements
that Should Worry You about a Tenant Prospect
- "We can have my wife sign the lease. Her credit is OK."
- "Why do you need our credit reports? That doesn't tell you what good people we are."
- "Has the home been inspected for lead or mold?"
- "We're moving because our landlord is a jerk."
- "You won't need a security deposit with us. We'll take good care of your home."
Read more Red Flag Question or Statements to Run From when Screening Tenants
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The LPA Denial Letter and Adverse Action Letter
Ever rent to a tenant because he was pushy, and you couldn't say NO?
Ever have a hard time turning down applicants because they think it's their right to have your property because they need or want it?
Well, sometimes people take it personally and find it difficult to understand that they may not be qualified enough to rent your property. As long as your reasons are legal for not approving their application, (By not breaking any laws regarding discrimination, etc.) you should not feel obligated to accept a tenant you determine who is not qualified. For example, your decision to reject an applicant may be based on income, credit, stable employment, etc., while it may not be based on a person's race, sex, religion, etc.
So, protect yourself with a denial letter to inform the applicant that their application was not approved. Check off the appropriate reason(s).
In certain cases, a deposit may be forfeit. Often an applicant will hold a rental with a deposit for an extended period of time and then change his mind about it. He always expects his deposit back, even if you are losing rent as a result of his failure to rent as agreed in the application. A copy of the signed Application to Rent along with the Denial Letter tell it like it is.
No applicant is happy to be rejected, but the Denial Letter when needed, helps you manage your time more efficiently, rather than being bothered by complaining rejected applicants. It also gives the applicant a courteous, detailed explanation of why he was declined.
If you reject an applicant because of negative information on his credit report, an Adverse Action Letter is needed to comply with FCRA (Fair Credit Reporting Act) regulations. We decided to make sure you are prepared both scenarios.
All Essential Forms are Free with LPA Membership
Need to Reject a Tenant for Credit Reasons?
Free Download
Adverse Action Notice
 Adverse Action Letter
If you reject an applicant because of negative information on his credit report, an Adverse Action Letter is needed to comply with FCRA (Fair Credit Reporting Act) regulations. The Adverse Action Letter includes the contact information for the consumer credit reporting agencies that played a role in the decision of rejecting the applicant based on the contents of his or her credit report. This contact information allows the rejected party to obtain a free copy of his or her credit report from the credit bureau(s) used to make the negative decision.
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Plan to be a Landlord for the Next 5-6 years?
Here's an LPA Offer You're Gonna Love!
Order a 5 Year LPA Membership and Get the 6th Year FREE!
"Just one tenant problem avoided can be priceless!
Tenant problems kill real estate careers, so I've made my career killing tenant problems!" - John Nuzzolese
Join for 5 years and ADD 1 FULL Year FREE!
Includes the LPA Forms disk and immediate download access.
Offer Valid after 12:12pm 12/12/12 until it EXPIRES SUDDENLY! (this coming weekend)
*** Coupon CODE: 1bonusLPAyear ***
Yes, the LPA will honor 5 year renewals too!
Extra Bonus 5 - 6 year orders:
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Receive a FREE copy of Dr. Danielle Babb's landlording book, The Accidental Landlord along with your LPA welcome pack!
(Don't forget this also includes the complete LPA Forms disk!
(over $700. value) Happy Holidays!)
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The Truth Behind what Some Tenants Say
You will Never Hear your Tenant Say ...
"I'm wanted by the FBI, so I gave you a phony credit report."
Click here for what they may actually say to you.
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LPA Membership Expiring?
Take Advantage of our low Renewal Prices!
How to Check your LPA Membership Expiration Date:
- Be logged in with your LPA username & password
- On the "Main Menu" (top right), click on "Your Orders" (right below your name)
- 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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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!
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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