Recently, I had a great conversation with one of Renting Authority’s members.  He mentioned that he always video tapes his properties before a tenant moves in.

This is really a great idea that I need to share with you.  Here are a few tips.

Date the video and show the new tenant in the video.  Hold up a newspaper if needed.

Outside: video the outside and include the yard, fence, sidewalk, stairs, rain gutter, roof (if possible), doors and locks, windows and exterior of structure

Inside
Walls: make mention of holes and paint condition
Carpet: wear, quality and condition
Kitchen: show functioning appliances - plumbing, kitchen condition
Bathroom: show functioning plumbing, cleanliness, lack of mold (I hope)

Let the tenant know you have video documentation of the rental’s present state.  Video taping will help safe guard you from lawsuits.  It is great documentation.  This also eliminates disputes about the condition of your property once the tenant moves out.

Spending an extra 30 minutes video taping before a tenant moves in could save you a lot of money and headaches down the road

To your success,
Troy Boldt

tboldt@rentingauthority.com
www.RentingAuthority.com

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I did find tenants, and am using your rental application, basically for peace of mind, and as you suggested, you only have one chance to get that information.

While I didn’t initially want to rent, I am forced to in order to stay afloat, and not go into greater debt.  I have decided to use just a monthly rental agreement, and I have been and will be relying on my past renting experience and what I’ve read from your e-newsletters so far.  Thank you very much.  Your e-newsletters have proved helpful as I inherited renters when I bought this place this last year, and had to deal with legal issues, so I’ve been “thrown into the pot” with both feet.

Thank you again for your newsletters Mr. Boldt.

Renah

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Here’s a typical lease agreement nightmare. Make sure your rental lease agreement protects you in situations like this. http://www.rentingauthority.com/lease_agreement/

Patti bought a generic lease agree from an office supply store. It covers the basics: when rent is due, late fees and when the lease ends. Unfortunately for Patti, the generic lease did not cover 4 vital issues that created a nightmare.
1. Guests
2. Pets
3. Waterbeds
4. Rental insurance

Issue 1
Patti’s tenant Rochelle decided that her boyfriend Chris should move in her. Rochelle did not feel she needed to inform Patti because the lease did not mention anything about guest staying in the rental with her. Patti did not find not about Chris until too late.

Issue 2
Chris moved in and brought his two cats and 75lbs dog. Chris and Rochelle were irresponsible with their pets. The cats used the carpet as a litter box and the dog dug holes all over the yard. He also barked constantly at the neighbor’s children.

Issue 3
Rochelle liked Chris’s waterbed, so he set it up in the upstairs bedroom. Chris and Rochelle both worked and left the pets unattended during the day. On a Thursday, they left the backdoor slightly ajar. The dog came in the house and chased the cats throughout. Sadly, the tan cat jumped on the waterbed and the dog followed. This chase resulted in a punctured waterbed.

(more…)

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It’s been about a week since you sat down and made your proverbial New Year’s Resolution.  Odds are you are doing well keeping them so far.

Your glowing determination to succeed fades quickly after a few months.  Here are the revealing realities of New Year’s Resolutions.

40-45% of adult Americans make one or more New Year’s Resolutions.

75% keep resolutions past 1 week
71% keep resolutions past 2 weeks
64% keep resolutions past 1 month

46% keep resolutions after 6 months.

That means only 16 to 20% of adult Americans stick with a goal longer than 6 months.  80-84% of Americans fail completely. Explicitly writing out goals increases success rate by 10 times.

America’s most popular New Years Resolution.

•    Lose Weight
•    Manage Debt
•    Save Money
•    Get a Better Job
•    Get Fit
•    Eat Right
•    Get a Better Education
•    Drink Less Alcohol
•    Quit Smoking Now
•    Reduce Stress Overall
•    Reduce Stress at Work
•    Take a Trip
•    Volunteer to Help Others

(more…)

Several landlords have asked, “Should I charge an application fee?” My answer astonishes some. Yes.

Three reasons why:

1.   Application fees start the filtering process
If an applicant is unwilling to pay an application fee, you may have a difficult time collecting rent.  You are in charge, it is your asset, and you make the rules.

2.   Covers your costs
Screening prospective tenants cost you time and money.  Recover as much money as possible.  If you have to screen 4 tenants to find the right one, it will cost about $100.  Don’t go in the hole $100.  Collect the application fee upfront.

3.   Reduces discrimination lawsuits
Charging differing prices and not charging at all on some applicants, opens you up for a lawsuit.  Charge a consistent fee.  Even if you feel sorry for someone. Please don’t misunderstand me.  I am not being cold hearted.  Attorneys look for inconsistencies like this to create a discrimination lawsuit.

If you have any questions or comments, please email me.

Sincerely,

Troy Boldt

Renting Authority

888-674-9181

tboldt@RentingAuthority.com
http://www.RentingAuthority.com

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Lemon Bars

Ingredients:
•    2 sticks (8 ounces) butter
•    2 cups flour
•    1/2 cup confectioners’ sugar
•    4 beaten eggs
•    2 cups sugar
•    4 tablespoons flour
•    1/4 cup lemon juice
•    1 tablespoon finely grated lemon peel
•    sifted confectioners’ sugar
Preparation:
Heat oven to 325°. Blend butter, 2 cups flour and 1/2 cup confectioners’ sugar. Pat into ungreased 13×9x2-inch pan. Bake for 18 to 20 minutes. For filling, blend together eggs, sugar, 4 tablespoons flour, lemon juice, and lemon peel. Pour over first layer. Return to oven and bake at 325° for 20 minutes. Loosen around edges, cut into bars and sift confectioners’ sugar over the top while warm.

WASSAIL DRINK
1 gal. apple cider, plain
1 qt. orange juice
1 c. lemon juice
1 qt. pineapple juice
24 whole cloves
4 sticks cinnamon
1 c. sugar
Mix all ingredients and simmer 10 minutes. Remove cinnamon and cloves. May be kept in crock pot on simmer to keep hot. Great for get togethers when it’s cold.

Egg Nogg recipe

12 Egg yolks

3 pints heavy cream
1 cup granulated sugar
nutmeg
1 cup bourbon whiskey
1 cup cognac
1/2 tsp salt

Beat yolks until light in color. Slowly add bourbon, cognac, while beating at slow speed. Chill 3 hrs. Add salt to whites, beat to peaks. Whip s cream until stiff. Fold whipped cream into yolk mixture, then fold in the beaten egg whites. Chill one hour. Serve with nutmeg sprinkled on top. For thinner mixture add 1 or 2 cups of milk. Serve in a punch bowl or another big bowl.

Happy Holidays from Renting Authority,

Troy Boldt

888-674-9181

tboldt@rentingauthority.com

http://www.rentingauthority.com

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I am giving someone a 1 year membership upgrade for free.  That’s a $119.40 value.

In the holiday spirit, I wrote my own 12 days of Christmas.  I call it The 12 Days of Tenant Screening.  I wanted to sing and record it for you, but after one recording, I scraped the idea.  Your ears will thank you for this.  Here are the words.

Enjoy

On the first day of tenant screening

My reports returned the following to me:

1 And a perfect credit score

2 Forgeries

3 Late pays

4 Poor credit scores

5 Burglaries

6 Liars lying

7 Falsified Docs.

8 Tenants paying

9 Armed robberies

10 Dealers dealing

11 30 day lates

12 Rent checks bouncing

Contest Rules

Write and or sing your own version and email it to me.  The winner receives 1 year free membership upgrade. I will also post the winning lyrics on our site.

Here is my favorite 12 days of Christmas from Jeff Foxworthy.  Don’t watch it if you don’t want to laugh.

http://www.youtube.com/watch?v=suqWNk1vi0o

Have a great Holiday,

Troy Boldt

888-674-9181

tboldt@rentingauthority.com

http://www.rentingauthority.com

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Credit Score
The credit score indicates what type of a credit risk a person poses to a potential creditor.  Here is a simple break down:

550 and below is poor
600 to 650 is fair
651 to 700 is good
701 to 750 is great
750 plus is excellent

Report Summary
This report shows the number of 30, 60, and 90 day late payments a person has.  This section also shows credit limits and the amount of debt a person has.

Collections
This section shows which accounts have gone to collections.   You can view the  debt amount and if the debt is  paid off.

Public Records and Judgments
This area shows bankruptcies, liens, judgments, and evictions.

Creditors and Financial Obligations
This gives a detailed account of extended credit.

Other Reports
We have created an Applicant Rating Report.  This helps you know how one applicant compares to other applicants across the country.  Use the drop down menu in the credit report to view the Applicant Rating Report.

If you need any assistance, please call, email or chat online.
Thanks,

Troy Boldt

888-647-9181

tboldt@rentingauthority.com

http://rentingauthority.com

Online support at:

https://messenger.providesupport.com/messenger/chazing.html

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Several landlords have asked, “Should I charge an application fee?” My answer astonishes some. It is simply YES.

Three reasons why:

1.     Application fees start the filtering process
If an applicant is unwilling to pay an application fee, you may have a difficult time collecting rent.  You are in charge, it is your asset, and you make the rules.

2.     Covers your costs
Screening prospective tenants cost you time and money.  Recover as much money as possible.  If you have to screen 4 tenants to find the right one, it will cost about $100.  Don’t go in the hole $100.  Collect the application fee upfront.

3.     Being consistent on application fees reduces discrimination lawsuits
Charging differing prices and not charging at all on some applicants, opens you up for a lawsuit.  Charge a consistent fee.  Even if you feel sorry for someone. Please don’t misunderstand me.  I am not being cold hearted.  Attorneys look for inconsistencies like this to create a discrimination lawsuit.

If you have any questions or comments, please email me.

Sincerely,

Troy Boldt

Renting Authority
888-674-9181

tboldt@RentingAuthority.com

www.RentingAuthority.com

Please read this.  I never want this to happen to you.
Take this short illegal discrimination quiz.  See if you are inadvertently discriminating.
Have you ever done the following?

1. Told an applicant there is not an opening because you did not want to rent to that person, when there really is an opening.
2. Advertised in such a manner that indicates a preference base on group characteristics, such as skin color or sex.
3. Set restrictive standards for certain applicants and not others, such as higher income.
4. Refusing to reasonably accommodate the needs of disabled clients, such as hearing dog, sight dog, or other service animals
5. Had different sets of late payment penalties for different tenants.

The Fair Housing Acts prohibit landlords from taking any of the above actions based on race, religion, or any other protected category.

Consistently using a standard application protects you from costly lawsuits.

Using Renting Authority’s rental application and tenant screening process help you avoid discrimination lawsuits.  They are a great tool that you now have access to.

Don’t worry, Renting Authority provides you with the best rental applications at no cost.

Follow this link and customize your rental applications today.  Select print application or email application.

www.toolbox.rentingauthority.com
Sample application
http://www.rentingauthority.com/videodemo/genericapp.html

Email an application to yourself

http://www.rentingauthority.com/videodemo/genericapp.html

Have a great day,

Troy Boldt

888-674-9181
tboldt@rentingauthority.com
www.rentingauthority.com

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