Landlord Newsletter - Account Status: Past Due Charges |
Dear Fellow Landlord,
How you ask for late rent from your tenant is a key factor in enforcing your agreement with people who may remain as your tenants. That is why I have a number of lease enforcement and collection forms for different situations and approaches. In this newsletter:
Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month! You have to run it from the head." - Nick Koon, Hard Nose Landlording
Account Status NotificationAre Your Tenants IN ARREARS?The Account Status Notification helps keep your collection efforts organized while you try to bring your struggling tenant accounts back in good standing. We should never let a tenant get behind in the rent or other charges, right? We are professional landlords and we know better than to let this happen, right? Why then does it still happen anyway? Using the LPA Urgent Late Notice as a model, I was able to tailor this form to suit my purposes to achieve the results I wanted. The Account Status Notification easily updates the tenant of their account status, reminds them of any past due balances such as unpaid late fees, attorney fees, etc. and alerts them if legal action is pending. The form helps to avoid misunderstandings with tenants about what is owed and when it is due.
Landlord Tip:Tenant Screening can be EasyFor many beginning landlords, there is a bit of confusion about how to go about screening applicants for rental property. There is further confusion about how and when to obtain a credit report on the prospect. First, I'd like to explain that you need to pre-screen the tenant manually before spending time and money on a prospect. To do this properly, you will need a good rental application. Next, you will need a reliable credit report provider. Below I've listed links that will take you through the screening process and provide you with the tools you need to do a professional job.
1. How to Screen & Qualify Tenants in 5 Easy Steps Real Estate Attorney John Reno, an expert in landlord tenant legal matters, has specialized in landlord tenant law for many years. Mr. Reno answers questions asked by LPA members to help solve all kinds of landlord tenant problems. Dear Mr. Reno: A: Your problem is you're in a Non-payment proceeding. You can't throw the check in their face and then evict them for non-payment. You can start a different proceeding to evict for bad conduct, but that requires a 30 day notice to vacate AFTER the lease is up. But if they make payment IN FULL, your non-payment eviction is toast. If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question. "If the tenant doesn't want to let you see his credit report, Cut. Him. Loose!" - John Nuzzolese, TheLPA.com "Your life~the way it looks today is a result of your choices...What will you choose today for your tomorrows?" - Robert G. Allen "I have witnessed the softening of the hardest of hearts by a simple smile." - Goldie Hawn "Never let the fear of striking out get in your way." - George Herman "Babe" Ruth "The best antidote to fear is knowledge. Turn fear into opportunity through knowledge." - Ralph Waldo Emerson "How much did your last tenant problem cost you? I expect your LPA membership to help you eliminate many many tenant problems!" - John Nuzzolese
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! See our price list! Take Advantage of our low Renewal Prices! How to Check your LPA Membership Expiration Date:
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