Landlord Newsletter August 25, 2009 |
Dear Fellow Landlord, Do you ever wonder why some people are successful and some aren't? In today's day and age it seems that kids DO NOT WANT TO WORK. "Work" is a 4 letter word! For many years since I first read the "Results of Initiative", I've related the short story to what I see in real life. I've made copies for my kids and hope it's made an impact on them. I hope you like it- and if you've read it in the past, I hope you enjoy it again.
In this issue:
Please e-mail us if you have any questions or would like to add or share any material / information. Essential Landlord FormI've been asked dozens of times in the last year to create a new form to help landlords ask the right questions on the telephone to help determine if the caller is someone you'd like to set an appointment to show your rental to. The LPA's new Tenant-Finder™ Pre-Screening Telephone Worksheet has developed from a simple prospect card into a handy and more complete screening tool for telephone interviews.
Have you ever met prospective tenants at your rental property, shown it to them, had them fill out a rental application only to find that they were nowhere near qualified? A simple pre-screening telephone interview can be a major time saver. Why not focus your attention on the most qualified prospects? Before giving out the address of your rental property and committing your time to a doomed appointment with an unqualified renter, you have a chance to more carefully evaluate which prospects are worth meeting with. I feel very strongly about strict tenant screening, which begins at First Contact with the tenant. First Contact is when you speak with the potential tenant for the first time, usually when they respond to one of your rental ads. At that point, you have the opportunity to learn what you can about this person's current situation. Are they employed? Can they afford your rental? Do their moving dates correspond with your rental's availability? Is their credit rating acceptable? And so on. After completing your Tenant-Finder™ Pre-Screening Telephone Worksheet, you can use the scoring area to evaluate your new prospect. Print up a pile of them to screen your next tenant! Eliminate bad tenant risks before spending your valuable time on them. The Results of InitiativeSome years ago, three brothers left the farm to work in the city. They were all hired by the same company at the same pay. Three years later, Jim was being paid $500 a month, Frank was receiving $1,000, but George was now making $1,500.Their father decided to visit the employer. He listened to the confused father and said, "I will let the boys explain for themselves." Jim was summoned to the supervisor's office and was told: "Jim, I understand the Far East Importers has just brought in a large transport plane loaded with Japanese import goods. Will you please go over to the airport and get a cargo inventory?" Three minutes later, Jim returned to the office. "The cargo was one thousand bolts of Japanese silk," Jim reported. "I got the information over the telephone from a member of the crew." When Jim left, Frank, the $1,000 a month brother, was called... Ask the AttorneyThe Landlord Protection Agency® is proud to introduce John Reno, Esq., a highly experienced Landlord - Tenant attorney based on Long Island, NY. If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.
Landlord Tip(This applies to month to month tenancies or if your lease allows you to make unilateral changes to the tenancy as the LPA Lease does.) * It is important to remember that proper notice must also be given by the tenant or the landlord for the Intention of Non - Renewal. Even though the lease has an expiration date, the landlord must still require a written notice to vacate from the tenant. If it is a 30 or 60 day notice, be sure that the written notice is served before the beginning of the next rent period. That means if the rent is due and payable on the 1st of the month, have the notice served before that date. Serving a notice in the middle of a rent period will not change the fact that the 30 or 60 days notice period starts on the first day of the next rent period. An official dated notice should be delivered / "served" to the tenant,
ExcusesMonth 2: "I was out of town with the cash. Thank God I had it because my car broke down and I luckily had that money with me to fix it." - Mary G., Kansas
Month 3: "My daughter rear-ended an off-duty police officer while drunk-driving last night. I had to use the money to bail her out of jail." - Mary G., Kansas
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