Landlord Newsletter - Ways to Increase Rental Cash Flow

Dear Fellow Landlord,

Often, I hear from owners of rental properties that are not producing the bottom line rents they should be. One common denominator I've found with them, is they either don't have the techniques or forms to increase their cash flow, whether though rent increases, renewals or setting up tenants to prioritize their rent payments.
Let's get more of the bottom line in your pocket, where it belongs!

I hope you find this newsletter helpful!

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

Increase Cash Flow ASAP!

Make it easier to increase rent without an argument

The Rent Increase Letter is a form letter which tells the tenants the amount of their rent increase, when the increase takes effect, and the new payment amount. It is a polite notice that reaffirms that all the terms and notice periods agreed in their lease will remain in full force.

The Increase Letter comes in very handy on month to month rentalsor on annual leases.

People often ask us: "How much should we raise the rent?"

Well, that depends on a few things:

1. The market,
2. the quality of your tenant,
3. the availability of new tenants.

If a tenant is wonderful, we'll hold our increase down to an absolute minimum. If a tenant is lousy, he'll get a large increase. We don't want lousy tenants.

Related Forms that are proven to Increase Cash Flow:



• Property Condition Report Checklist
  Protect yourself with a carefully documented Property Condition Inspection Checklist! I have found that when tenants sign the property condition report upon move-in, they take better care of the property leaving us with a noticeable savings in repairs and clean-up when they vacate.
• Notice of Renewal Option
  The renewal option is polite increase and renewal letter combined into one form. It assures the tenant that we value them and have kept any increases to an absolute minimum.
• Credit Reporting Disclosure to Tenant
  The Credit Reporting Disclosure Notice informs the tenants that you intend to report positive and negative payment history to the credit and tenant reporting bureaus. The form points out that the tenants' record will be affected by their rent payments, cleanliness and overall performance. This has made a tremendous difference with our tenants paying early, the last few years!
• Lease Obligations Reminder Letter
  The Lease Obligations Reminder Letter helps the landlord enforce the terms of the lease by politely bringing the tenant's attention to certain items and covenants in the lease agreement that may have been overlooked or forgotten about. It can be sent as a standard letter to all tenants or just make it look that way to a particular tenant, if you like.
• Security Settlement Statement
  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 without a hassle from the tenants.

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

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!