Landlord Newsletter - Tenant Screening Secret # 1

Dear Fellow Landlord,

In this newsletter:

• Tenant Screening Secret # 1
  
• Free Downloads: State Laws & Limitations
• Free Landlord Lease Clause - Plumbing Stoppages
• Ask the Attorney, Real Estate Attorney, John Reno
  
• Wealth Secrets and Quotes for Success
  

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

You are screening all the time.
Until you agree on the terms of the lease with your prospect, and have signatures of both parties on the agreement, you should be carefully evaluating the applicant . After you've completed all the steps of your tenant screening process, the final decision is made the moment the lease is finalized - when it is signed and all the required funds are paid.

I know it may seem harsh to kill a deal during or just before the lease signing, but I've been able to uncover disturbing knowledge about some prospects just before or during lease signings.

What do you do if you come to realize at the last minute that this is not the qualified tenant you thought you had for your rental property?

A: If this new knowledge is a deal breaker, you must for your own protection kill the deal.
How do you kill a deal?
There are 2 ways you can kill a rental deal at the last minute or during the lease signing.

1) The direct way. Confront the prospect with the information and explain that you can not proceed any further. or

2) Reschedule the appointment while you reconsider.

It is important to always do your best to eliminate the chance of renting to someone who is already showing you that you can expect problems from them.

• How many days notice do I need to give my tenant to Pay or Quit?
  State Specific Notice Period Chart Your LPA Lease default clause explains the notice period and procedure the landlord should follow when a tenant defaults on the rent.
  View or print the State Specific Notice Period Chart to determine the proper amount of days notice needed to cure the default for non payment of rent. Used for Notice to Pay Rent or Quit form.
  
  
  
• How many days written notice must I give to my tenant when I tell him to leave?
  State Specific Notice Period Chart
  Also lists the written notice periods required to terminate tenancy or non-renew a lease or rental agreement.
  
  
• How long do I have to return the security settlement to my tenant after he vacates?
  Security Deposit Return Time Chart State by State
  View or print the Security Deposit Return Chart. Avoid lawsuits and comply with state security deposit return laws. Know your state's time limit to return the security deposit and/or notify tenants of deductions from deposits.
  
  
• How long do I have to start legal action to collect a debt from my tenant?
  Statute of Limitations State Chart on Debts
  This state chart makes it easy for you to look up your state's Statute of Limitations.
  
  
• How many days should pass before I charge my tenant a late fee?
  And is there a limit on how much I can charge? The LPA State Lease Clause Index will allow you look up your state requirements and limitations if any concerning late fees.
  
  
• How many days before my tenant vacates should I send a Move-out Instructions Reminder letter?
  Move Out Instructions Reminder Letter has become an important time and money saver. We send this form to the tenants about a week or two before the tenants vacate. It reminds them specifically of certain tasks and cleaning they should perform in order to get a full security refund. This letter instructs the tenants how to lock up and secure the rental until it can be inspected by the landlord/management, and also where and how the tenants should return all keys.
  We have found this form to be very effective helping tenants to be more cooperative and considerate on the way out.
  
  

What Do I Do if the Tenant Doesn't Agree to Sign My Lease?
Lease Agreement Cancellation - RIP IT UP!
If the tenant doesn't want to sign your lease, or wants to make unsatisfactory changes in it, rip it up. That's right. RIP UP the lease in front of the tenant and tell him that this is not the right home for him and he is not the right tenant for you.

Then go on to the next qualified tenant. That is the quickest headache relief ever. Faster and more satisfying than 3 Advils!

We find this clause is most helpful in leases for single family home rentals, but has also been successful in multi family dwellings.
<!-- Start Copying here --> PLUMBING STOPPAGES Tenant is responsible for all plumbing stoppages and cesspool fill ups. Tenant is responsible for the cleanup of waste spills as a result of any plumbing stoppages. As a preventative measure, it is recommended that Tenant have waste lines cleaned annually. <!-- End Copying here -->

Just copy and paste into your lease document. (If you already use The LPA Lease, the clause is already there.)

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 have a married couple with 3 children on month to month basis. 8 months ago, I gave them a letter to increase the rent and they didn't comply to what I wanted but decided to give me what they wanted. Now, they had a couple (daughter w/ husband) move in, its been 3 months the new couple live with them. Can I serve them a notice through a constable for an increase or possible eviction if they don't comply?
Thank you,
Jorge in Massachusetts

A: Its a month to month- go for it!

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.

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 bright side, remedies are available. 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

"95% of tenant problems can be eliminated in the screening process." - TheLPA.com

"Tough times don't last. Tough people do." - Gregory Peck

If you want to survive as a landlord, "You can not run your business from your heart. You have to run it from the head." - Nick Koon, Hard Nose Landlording

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

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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