American Landlord: Everything U Need to Know... about Property Management

by Trevor Rhodes

Overview

The Definitive Guide for Every Landlord

Whether you just have an extra room to rent or a growing rental empire, you still need reliable information and expert advice to make sure you do it right. Drawn from years of experience helping thousands of landlords, American Landlord leads everyone from the new landlord to the old pro through all the ins and outs of property management.

Inside:

• Buying and maintaining rental properties
• Successfully advertising your vacancies
• Safely and securely screening your applicants
• Effectively dealing with troublesome tenants
• Understanding rental forms and agreements

BONUS CD-ROM FEATURES: Ready-to-print rental applications, lease agreements, checklists plus landlord-tenant laws for all 50 states, and much more!

Product Details

ISBN-13:	9780071545181
Publisher:	McGraw Hill LLC
Publication date:	12/31/2007
Sold by:	Barnes & Noble
Format:	eBook
Pages:	400
File size:	13 MB
Note:	This product may take a few minutes to download.

About the Author

Trevor Rhodes is founder and CEO of AmerUSA, the nation’s leading tenant-screening company, and is a nationally recognized leading authority in real estate.

Table of Contents

Introduction
Chapter 1: Becoming an American Landlord: To Be or Not to Be. . .?
Inheriting Property
Relocating Temporarily
Upsizing and Downsizing
Investing for the First Time
Chapter 2: Preparing Your Rental Property: Tips to Entice the Herd
Curb Appeal
The Kitchen
Bathrooms
Interior Painting
Flooring
Chapter 3: Advertising Your Vacancy: How to Avoid Spending a Fistful of Dollars!
Yard Signs
Flyers
Word-of-Mouth Referrals
Newspapers and Real Estate Publications
How to Write a Classified Ad
How to Use the Internet to Attract Tenants
Tenant Placement Agents
Chapter 4: Tenant Screening, Part I: The Information Roundup
The Rental Application
Asking the Right Questions
Acknowledgment and Authorization
Charging an Application Fee
Proper Identification
Chapter 5: Tenant Screening, Part II: The Dreaded Credit Report
Getting Access to a Tenant’s Credit Report
How to Read and Interpret a Credit Report (sample included)
Personal Information
Employment Information
Scoring (Credit Score)
Credit Summary
Public Records
Collections
Revolving Accounts
Installment Accounts
Mortgage Accounts
Inquiries
Chapter 6: Tenant Screening, Part III: Determining Credit “Worthiness"
The Importance of the Credit Score
The Credit Summary (including How to Deal with Identity Theft)
The Fair Credit Reporting Act (FCRA)
FCRA Definition of a Consumer Report
FCRA Definition of an Adverse Action
The Adverse Action Notice (Statement of Credit Denial)
Non-Compliance with the FCRA
The FCRA Summary of Rights
How to Get Your Own Free Credit Report—For Real!
Chapter 7: Tenant Screening, Part IV: Eviction Records
The Eviction Process
Eviction Record Sample
Where to Find Them
Chapter 8: Tenant Screening, Part V: Criminal Records
U S Department of Justice Statistics
Criminal Record Sample
Felonies and Misdemeanors
The Clerk of the Court
Government Websites
Professional Research
Chapter 9: Tenant Screening, Part VI: Verifications and References
Employers
Landlords
Friends, Family and Others
Chapter 10: Tenant Screening, Part VII: Wrangling Common Scenarios
Divorce
Medical Collections
Bankruptcy
Foreclosure
No Credit Score
No Credit History
Chapter 11: Tenant Screening, Part VIII: Turning Away the Herd
Making a Business Decision (including How to Deal with Denial Anxiety)
Notifying the Applicant
Protecting Yourself
Chapter 12: Lease Agreement, Part I: “Must-Have” Clauses
Sample Lease Agreement
Subject of Lease
Term of Lease
Monthly Rental
Security Deposit
Number of Occupants
Assignment and Subletting
Showing Property for Rent
Entry for Inspection, Repairs and Alterations
Redecoration and Alterations
Taxes and Utilities
Maintenance and Repairs
Pets and Animals
Waste, Nuisance or Unlawful Use
Lessee’s Holding Over
Redelivery of Premises
Default
Destruction of Premises and Eminent Domain
Delay in or Impossibility of Delivery of Possession
Binding Effect
Governing Law
Attorney Fees
Entire Agreement
Modification of Agreement
Paragraph Headings
Chapter 13: Lease Agreement, Part II: Addendums
Pets and Animals
Option to Purchase
Sublease (The Practice of Subletting)
Modification of Lease
Chapter 14: Maintaining and Repairing Your Rental: The Key to Prosperity
Preventative Maintenance
Be Prepared - Something Inevitably Goes Wrong!
Do-It-Yourself
Contractor and Vendor Relations
Chapter 15: Landlord Insurance: Protecting More Than Just Your Property
Is Insurance Necessary?
Choosing Policy Coverage
Going Above and Beyond with an Umbrella Policy
How to Minimize Your Liability
Getting a Free Quote
Chapter 16: Move 'Em In, Move 'Em Out:
A Picture Is Worth a Thousand Words and Dollars!
Assessment of Condition Checklist
Retaining or Returning a Security Deposit
Chapter 17: Non-Owner Occupied Financing:
Why the Title (Deed) Should Be in Your Name
Your Personal Credit
Income and Asset Requirements
Mortgage Programs
Getting a Free Quote
Conclusion
Appendix A: Section 8: Government Assisted Tenant-Based Housing
A Brief History of Public Housing Assistance
Housing Choice Voucher Program
Responsibilities of Everyone Involved
How to Get Started
Housing Quality Standards Inspection
Tenancy Addendum for Lease Agreement
Housing Assistance Payments (HAP) Contract
Screening Housing Assisted Tenants
Appendix B: Section 8 Forms and Agreements: Housing Choice Voucher Program
Request for Tenancy Approval
Housing Quality Standards Inspection
Tenancy Addendum for Lease Agreement
Tenancy Addendum for Lease Agreement (Manufactured Homes)
Housing Assistance Payments (HAP) Contract
Housing Assistance Payments (HAP) Contract (Manufactured Homes)
Appendix C: Landlord-Tenant Laws: A Summary of State Guidelines
Returned Check Fees
Security Deposit Limits
Deadlines for Returning Security Deposits
Notice of Entry Requirements
Late Fees
Appendix D: Rental Forms and Agreements: Miscellaneous Tools of the Trade
Rental Application (single)
Rental Application (co-tenants)
Co-Signer/Guarantor Application
Verification of Employment (VOE)
Verification of Rent (VOR)
Statement of Credit Denial
Lease Agreement
Modification of Lease
Sublease Agreement
Assignment of Lease
Option to Purchase
Pet Agreement
Assessment of Condition
Property Management Agreement
Residential Sales Contract
Quit-Claim Deed
Appendix E: Government Forms and Publications: Landlord Responsibilities
Lead-Based Paint Disclosure
Lead-Based Paint Pamphlet
FCRA Summary of Rights
Appendix F: Bonus CD-ROM: The American Landlord Resource Center
Installation Instructions
Terms of Use
How to Personalize a Rental Form
The End Result
Index