The LPA Newsletter January 2010
HAPPY NEW YEAR !
Dear Fellow Landlord,
The New Year is here now and it will be gone in less than 12 months whether we accomplish anything or not. That statement reminds me of a quote by Dr. Denis Waitley, "If it is to be, it is up to me." We have some great opportunities in the year ahead in the area of real estate investing and also in the landlord department. Many of us will be adding properties to our collection, but it is also important to continue strengthening your landlord operation. That is why I put together a few landlord resolutions for 2010.
In this newsletter:
10 Landlord Resolutions for the New Year
A Free Lease clause that has helped me more times than I can count.
New LPA Feature: The ability to download Essential Forms in alternate word processing formats and lettersized versions was a much needed new feature for members the LPA. Now you can access all our forms the format of your choice.
More tenant Excuses
More Success Quotes
If you missed the Free Downloads and Articles of our last newsletter, click here for all our Free Forms
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
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Notes from a fellow landlord: Renting to Relatives can be a Nightmare
I just found your website after evicting my own brother, wife, 4 kids, 7 dogs, and 5 cats back in October. My house needs to be gutted after a mere 3 years....Even with a "HOME INSPECTION" to their previous residence.... you can never be totally sure how things will turn out. The home in this case had obviously never seen a cleaning in 3
years...roaches took 2 months of bombing to be eradicated...walls and all floors need removed and replaced after pet odors permeated it all... oh my GOD...never rent to Family!!!! NEVER! They owed me over $12k in rent, they had medical issues that empowered the court to delay evictions, and the damages have destroyed all the value to this once A+ Condition property....
Click here to read the full article.
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How to Screen Tenants in 5 Easy StepsBy John Nuzzolese
I always say that "95% of your tenant problems can be eliminated in
the screening process." If you're like me, you probably find it
difficult to relax when you have vacancies. So getting it rented is
the main idea, right? Well, from now on, lets say "getting it rented
to a properly qualified tenant is the main idea."
Below is what I call The 5 Steps of Screening Tenants.
STEP 1: First Contact
From the very first contact with the tenant, the screening process
has begun. Whether you are the landlord, real estate agent or property
manager, the same still holds true.
First Contact is usually by telephone, so you need to ask the right
qualifying questions in order to decide if you should proceed to step
2. Advise customers of your up front rent and security deposit
requirements and other important facts regarding the rental that may
help disqualify the prospect.
I suggest you make a list or prospect card of questions to ask and
have it handy while you conduct your first contact telephone interview. (Click here for a Free Pre-screening Prospect Card) For
example:
Name: |
Phone: |
Reason for Moving: |
# of People: |
Intended length of lease: |
Occupancy Date: |
Pets: |
Smoking: |
Credit: |
Landlord Reference? |
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Please note that anyone who has a problem answering your questions
(as long as you ask them politely), probably will not qualify for your
rental. Serious customers want to make a good impression on you and
should be happy to answer your questions. This process can save you
and customers a lot of time and trouble.
STEP 2: Showing the Property
From landlords to real estate agents, we all have our own style in
showing the rental. I think we all need to be aware of certain
telltale signs or "red flags" to watch for while evaluating your prospective new
tenants.
- Appearance. Is the prospect neat and clean? Did
he or she make an attempt to make a good impression? ....
click here for the full article...
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FREE DOWNLOAD Tenant-Finder™ Worksheet
Take the Stress Out of the Decision.
Score Prospects by Their Point Value
Score your Tenant-Finder™ Worksheet to help you evaluate the prospective applicant. Before making an appointment to show your property to an applicant, examine your findings. The LPA Tenant-Finder™ Prospect Qualifying Chart will help you determine a more accurate score for each applicant.
The Tenant-Finder™ Prospect Qualifying Chart helps you break down the evaluation of a rental prospect into five main categories.
Those categories are
- Money
- People
- Credit
- Tenant
- Timing
Although the Tenant-Finder™ Prospect Qualifying Chart is designed to work with the scoring of the Tenant-Finder™ Worksheet, it can also be used alone to score prospective tenants.
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FREE LPA Gift with Book Purchase!
Fellow LPA Member, Dr. Danielle Babb is a national real estate expert and author of the new Landlording Book, "The Accidental Landlord".
Get your copy now... with a FREE BONUS! from theLPA.com
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Wealth Secrets and Success Quotes
"It is better to have NO tenant than it is to have a bad tenant." - John Nuzzolese
"When you change the way you look at things, the things you look at change. - Wayne Dyer
"People with goals succeed because they know where they are going... It's as simple as that." - Earl Nightingale
"Too many of us are not living our dreams because we are living our fears." - Les Brown
"One of my biggest fears is having a tenant with more landlord - tenant knowledge and expertise than I have." - John Nuzzolese
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NEW SITE FEATURE: PICTURES! Worth A Thousand Words!
The LPA's Rental Advertising division,"Landlord's Corner" allows you to include up to 6 pictures (thumbnails and full size pictures) in each rental ad. (UNLIMITED FREE ADS come with LPA membership!)
LPA members: FREE! Non-members: only $5. per ad.
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LPA Membership Expiring? Take Advantage of the 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
NEW! Save Money with our Promotional Membership Renewal Prices!
*Your Membership Expired? No Problem!
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