The LPA Newsletter
October 2014
Dear Fellow Landlord,
Please excuse me for sending October's first newsletter a day early, but I like to send it on Tuesday plus I have an Early Lease Termination Addendum form to share with you!
"It is better to have NO tenant than it is to have a bad tenant."
In this newsletter:
- Early Lease Termination
- Early Lease Termination Amendment (FREE this week only)
- Landlord Tip: Late Rent Do's & Donts
- Ask the Attorney, Real Estate Attorney, John Reno
- Wealth Secrets and Quotes
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
***********************************************
Early Lease Termination Amendment
Need to terminate a lease agreement before its expiration?
I am sometimes asked why I do not have an "Early Termination Clause" in my lease. The reason is that the lease is written with the expectation that the tenant will honor it until the expiration of the contract. In the even the tenant violates the contract and moves out early, the lease is stronger for landlord remedies without volunteering an Early Termination clause, which is actually telling the tenant from the onset, "It's OK to break the lease if you need to. We have an Early Termination option." I prefer not to offer the option to break our lease. If the tenant needs to break the lease in order to relocate, the landlord has more protection of getting paid until re-rental if there is No Early Termination Clause.
Fact: Not all leases end in eviction. Sometimes landlords and tenants actually part ways under amicable, even friendly circumstances! The tenants may have purchased their own home or perhaps the landlord wishes the tenants to move for various reasons. In any event, this form provides the landlord with a measure of protection when ending the lease early.
The Early Lease Termination Amendment allows the landlord and tenant to agree to end their lease term early at the landlord's option.
- The Early Lease Termination Amendment amends the lease ending date to be a new date the landlord and tenants agree to change it to, while it continues to bind the tenants to the responsibilities and rules stated in the original lease agreement.
- The Early Lease Termination Amendment helps to guarantee the tenant leaves on the date agreed by providing for a holdover penalty for each day the tenant stays after the agreed move-out date.
- It also provides for an optional Early Lease Termination penalty fee.
***********************************************
Landlord Tip
Landlord Do's & Don'ts
Topic: Late Rent
What The LPA says you should do and what you shouldn't do:
DO Be quick to send a late notice as soon as the rent is late. Very often, landlords don't want to seem too eager for the rent that they will give the tenant an extra day or two. That procrastination usually turns into at least a week. Before you know it, the tenant is in serious violation of the lease. That's why we have to be on top of the rent right away. Be ready to use these forms in order:
Notice of Past Due Rent
Urgent Late Notice
Notice to Pay Rent or Quit
DON'T be a procrastinator.
DON'T get into any heated discussions with the tenant.
DON'T fall for the old sob story routine.
***********************************************
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!
***********************************************
Ask the Attorney
 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'm in the process of doing a eviction in California, and was told by the eviction company that you can not get back rent from a person on disability? Is this true?
A: No, not true (I think what they meant is that you can't garnish their checks or seize their checking accounts because disability money is EXEMPT from collections.)
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
***********************************************
Wealth Secrets & Success Quotes
"A mind stretched to a new idea never goes back to it's original dimension." - Oliver Wendell Holmes
"Fail to prepare? Prepare to fail." - Unknown
"You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you." - Dale Carnegie
"How much did your last tenant problem cost you? Was it less than $89.99?" - John Nuzzolese
***********************************************
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!
***********************************************
FREE Tenant Credit Reporting
(LPA Membership Bonus Feature)
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
***********************************************
LPA Members, Interested in past LPA Newsletters?
Feel free to view the LPA Newsletter Archive
***********************************************
What are people saying about The Landlord Protection Agency?
***********************************************
Home |
LPA Membership |
Landlord Q&A Forum |
Free Forms |
Essential Forms |
Credit Reports
|
