On today’s episode, John Nuzzolese, President of the Landlord Protection Agency, shares important tips for landlords. Many landlords don’t know how to properly screen tenants, which causes lots of issues. John made some of these mistakes when he first started out as a landlord. He learned the hard way from negative experiences, which led him to create the Landlord Protection Agency.
It’s vital to find the right tenant, not just get the space filled. Screening the tenants correctly will be the cheapest eviction you’ll ever have. Pre-screening the applicants from the very first point of contact will save lots of money and hassle. John goes through a list of questions through email to find out if they smoke, have pets, how many people reside in the property, what their credit score is and more before they even talk on the phone. This saves so much time prior to even getting a credit score.
On John’s website is a flow chart that takes landlords through the screening process step by step to avoid bad tenants. Following this process instead of just rushing through to fill the space will prevent so many mistakes. Unfortunately, many landlords will lie and say anything to get rid of a bad tenant. Tenants also will put down phony landlord references. But going through the steps on the flow chart will avoid these issues.
In addition, when many landlords get into the business, they don’t have a proper lease that will protect them. The Landlord Protection Agency has developed a lease that is applicable to all 50 states in the United States. For more information and access to John’s resources, visit https://www.thelpa.com/.