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The first step in ensuring that you protect your rights as a Landlord begins with the Application of the prospective tenant.  Your application should provide you with all the information you will need to accurately judge the applicant worthiness.  You should also take this opportunity to begin collecting information that may be useful in the future should the applicant become a tenant that you need to find later.  Here are 10 tips on ensuring that you have your bases covered in the Rental Application process.

1. Make sure your application is proper and legal and does not violate any fair housing laws or local laws.
2. Include a small section of text briefly detailing your qualifying standards and permission for the landlord to check all sources in evaluating their application for tenancy.
3. Include a phrase stating an "incomplete/inaccurate application" is a reason to be disqualified or not approved.  Their signature line is below this small bit of text.
4. DO ask for several phone numbers ? home, work, cell, pager, etc.
5. DON'T ask "Do you have pets?". This phrase almost automatically implies the landlord does not accept animals and your applicant will almost always answer this question with a "No". Instead ask "Number of pets" and "What breed/type".  Phrasing the question this way makes it appear that you accepts pets even if you don't and will entice the applicant to provide a truthful answer..
6. DON'T ask "Have you ever been evicted" Instead ask "Has an eviction ever been filed against you"?  Many times the applicant has a problem reading this question correctly.  Even when confronted with false information on the application, the Applicant who answered this question with zero or None will respond "I've never been evicted!". Unfortunately, that is not the question. Sometimes the tenant has had evictions filed and landlord has lost the eviction.
7. DON'T ask about a question using "family" or "children". Using those terms is like pasting a "sue me" sign on your forehead…and unfortunately the applicant will win if they do.  If you are using those terms, STOP IT NOW.  Substitute the phrase "Names and birthdates of all people who will be living in the household".
8. DO ask the question "Have you ever broken a lease or been asked to leave during a lease term?".  I also have this on the list of questions that I ask the previous landlords.  Sometimes the best way to get rid of a tenant is to just ask them to leave….sometimes even offering an incentive to get them to go.  This is not the type of tenant you want to bring into your rental.
9. DO ask the question "Have you been late 2 or more times with your rent/mortgage payment in the last year?".  You'll be amazed at the excuses that you can get with this one.  Again, this is one question that I always ask the previous landlord's also.
10. Emergency contacts.  This section includes the phrase "including non-payment of rent". This is an emergency. I also include this phrase right above the emergency contact information section in my rental agreement. This is powerful and allows you to contact these folks if they get behind on their rent. Yes, your tenant might throw a fit the first time you contact their relative, but you remind them they instructed you to do so on both their application and rental agreement. After perhaps some embarrassment, I have found this to be a powerful tenant training tool. They will make sure rent is paid on time to prevent their emergency contacts from being notified.

Hopefully these tips for your residential lease application will help you in your screening process for prospective tenants.  If you have any other items you think are a must have, please let me know.

web log for us – those that protect our interests right from the start 

    For those landlords who have single family houses, we are in full swing of the Yard Upkeep season.  I find that as a landlord it is critical to keep a good relationship with the other residents of the places where I have rental properties.  One of the biggest pet peeves of neighbors is a house on the block that has poor exterior maintenance.  Lawn Care and Yard Upkeep by the tenants is critical to ensure continuing a good relationship with the neighbors. 

    Here in Philadelphia there is an organization called CLIP (Community Life Improvement Program) that is basically the good neighbor police.  You can call them if neighbors don't put their trash out (or fail to take their cans back in), have excessive weeds/grass growing on or around their property, failure to shovel snow, and all of the basic quality of life issues that may arise between neighbors. 

    In my lease I have an Exterior Maintenance Clause that basically lets the tenants know that Yard Upkeep is their responsibility.  Here is the clause that I use in my lease:

EXTERIOR MAINTENANCE AND CARE.  Tenant(s) shall keep grass trimmed in front lawn.  Grass shall grow no longer than 5 inches tall.  Tenant(s) shall keep weeds pulled from around exterior of property including rear and side yards, patio, front sidewalk and walkway.  Tenant(s) shall keep steps, walkway and sidewalk clear of snow, ice, trash and debris.  After 2 warnings or 1 fine from the City of Philadelphia for improper exterior care, professional maintenance services shall be provided and rent shall increase by $50.00 per month for the remainder of lease term.

    As you can see I add a $50 increase in rent for the remainder of the lease term after 1 fine or 2 warnings.  Frankly I don't want to have to police the property to make sure that the tenant is doing their job of keeping it looking presentable.  I hire a lawn care company for the summer to ensure the lawn is taken care of property then I hire a neighborhood kid in the winter to make sure that the snow and ice are cleared from the property.  The Tenants will also get a 50lb bag of ice melt to toss around to make sure that everything stays clear.

web log for us – those who like to get tenants to be responsible for the property.  Even if it costs them more….. 

DISCLAIMER:  I am not a lawyer.  If you plan to use the above clause in your lease please have a professional real estate attorney review it for it's legality. 

    Abbreviations are a necessity in real estate advertising because most of the time a great deal of information must be communicated in a very small space.   I've compiled a list of common Real Estate Definitions and Abbreviations.  The following list contains some of the abbreviations which are commonly used in the real estate industry.  I've also begun implementing the Glossary Page for more of the commonly used Real Estate abbreviations and Definitions.  If you hover over any of the Real Estate Abbreviations below you will get a short definition of what that Real Estate abbreviation stands for.

    If you run across any other abbreviations or terms you don't understand, feel free to contact me.  If you are looking for something that I don't have listed, please let me know.  I'd be happy to add the new term to the list. In addition, if you see an error in my definitions or abbreviations, please use the Contact Page to let me know about it.  Here are some common abbreviations and their meanings:

Credential Abbreviations
ABR – Accredited Buyer Representative
CBR – Certified Buyer Representative
CHMS – Certified Home Marketing Specialist
CLHMS – Certified Luxury Home Marketing Specialist
CNS – Certified Negotiation Specialist
CRB – Certified Real Estate Broker
CRS – Certified Residential Specialist
e-PRO – Internet Professional
GRI – Graduate Realtor Institute
NAR – National Association of Realtors
OA – Owner Agent
REALTOR® – Member of the National Association of Realtors
REBAC – Real Estate Buyers Agent Council
SRES – Senior Real Estate Specialist

Contract and Financing Abbreviations
APR – Annual Percentage Rate
ARM – Adjustable Rate Mortgage
BTSA – Bonus To Selling Agent
CCR – Conditions, Covenants, and Restrictions
CFD – Contract For Deed
CLTV – Combined Loan To Value
CMA – Comparative Market Analysis
COCR – Cash on Cash Return
COF – Cost Of Funds
COO – Certificate Of Occupancy
DBA – Doing Business As
DCR – Debt Coverage Ratio
DOS – Due On Sale Clause
EA – Exclusive Agency
EMC – Earnest Money Contract
ERS – Exclusive Right to Sell
FCRA – Fair Credit Reporting Act
FDIC – Federal Deposit Insurance Corporation
FEMA – Federal Emergency Management Agency
FFE – Furniture, Fixture, and Equipment
FHA – Federal Housing Administration
FHLMC – "Freddie Mac" Federal Home Loan Mortgage Corporation
FMR – Fair Market Rent
FMV – Fair Market Value
FNMA – "Fannie Mae" Federal National Mortgage Association
FRBO – For Rent By Owner
FSBO – For Sale By Owner
GNMA – "Ginnie Mae" Government National Mortgage Association
HUD – Department of Housing and Urban Development
LIBOR – London Interbank Offering Rate
LTV – Loan To Value
MLS – Multiple Listing Service
MTG – Mortgage
O/F – Owner Finance
P&S – Purchase And Sale
PITI – Principal, Interest, Taxes and Insurance
PMI – Private Mortgage Insurance
POA – Power Of Attorney
REI – Real Estate Investor
REIA – Real Estate Investors Association
REIT – Real Estate Investment Trust
RELA – Real Estate Licensing Act
REO – Real Estate Owned
ROI – Return On Investment
RTO – Rent To Own
TIL – Truth In Lending
VA – Veterans Administration

Property Listing Abbreviations
1/2 BA – Half Bath (toilet and sink)
3/4 BA – Three Quarter Bath (Toilet and Sink and Tub or Shower)
4/3/2 – 4 Bedroom / 3 Bath / 2 Car Garage
A/G PL – Above Ground Pool
AC – Acres
ACTV – Active
ALM – Aluminum (i.e. ALM SIDG = Aluminum Siding)
APT – Apartment
ATT – Attached (i.e. ATT GAR = Attached Garage)
BA – Bath
BALC – Balcony
BB – Baseboard (i.e. BB Heat)
BCH – Beach
BKPCH – Back Porch
BKYD – Backyard
BLDRS REDO – Builders Renovation
BLT – Built-in
BR – Bedroom
BRK – Brick
BSMT – Basement
BUNG – Bungalow
CAC – Central Air Conditioning
CAPE – Cape Cod
CENT H/A – Central Heat and Air
C-FAN – Ceiling Fan
CHN – Chain
CLAP – Clapboard Siding
CLBHS – Clubhouse
CLDSC – Cul-de-Sac
CNR or CRNR – Corner
CRPRT – Carport
CRWL – Crawlspace
CTH – Cathedral
CVAC – Central Vacuum
D/W – Dishwasher
DBL – Double
DEDRS – Deed Restrictions
DET – Detached Garage
DK – Deck
DR – Dining Room
EIK – Eat in Kitchen
END – End Unit
E-RNG – Electric Range
FBA – Full Bath (toilet + sink + shower + tub)
FDR – Formal Dining Room
FFBR – First Floor Bedroom
FIN BSMT – Finished Basement
FLRS – Floors
FM RM or FR – Family Room
FML – Formal
FNCD YD – Fenced Yard
FOYR – Foyer
FP or FPL or FPLC – Fireplace
FXR – Fixer Upper
G/D – Garbage Disposal
GAR – Garage
GLFP – gas log fire place
GMT KIT – Gourmet Kitchen
G-RNG – Gas Range
HDWD – Hardwood
HOA – Homeowner's Association
HSF – Heated Square Feet
HTUB – Hot Tub
HVAC – Heating, Ventilation and Air Conditioning
HW – Hot Water
HWH – Hot Water Heater
IGSP- In Ground Sprinkler
INGRD PL – In-Ground Pool
INLW – In-Law Suite
KIT – Kitchen
LA – Living Area
LFT – Loft
LR – living room
LRG – Large
MAR – Marble
MBR – Master Bedroom
MO – Month
NAT GS HT – Natural Gas Heat
OFC – Office/Study
PAN – Pantry
PAT – Patio
PGS – Propane Gas
PL – Pool or Place
PRTL – Partial
REC RM – Recreation Room
RM – Room
RNCH – Ranch
SEC DEP – Security Deposit
SEW or SWR – Sewer
SF – Square Feet
SIDG – Siding
SLT – Slate
S-MB – Split Master Bedroom
SMP – Sump Pump
SQ FT – Square Feet
STOR – Assigned Storage
TRAD – Traditional
TXS – Taxes
VNYL – Vinyl
W/D – Washer/Dryer
W/D HKUP or W/D CON – Washer/Dryer Hookups
W/W CPT – wall to wall carpet
WAR – Warranty
WBFP – Wood Burning Fireplace
WBS or WDSTV – Wood Burning Stove
WD FLR – Wood Floor
WF – Waterfront
YD – Yard
 

    Sorry for the lack of posts this past week.  My real life has gotten in the way of my blogging.  Work had me traveling the first half of last week and I ended up working late into the evening Monday and Tuesday.  Wednesday was my daughters graduation from 8th grade and this weekend we had friends and family over for a celebration.  I flexed my culinary skills for everyone and it seemed to be an enjoyable event.  Enough about me, on with the post.

    I was making my normal rounds through the Internet today when I came across these 2 video reports from myfoxny.com.  Apparently these 2 squatters managed to live rent free in a home for 8 months before the landlord was able to get them out.  There isn't a lot of details on the how the landlord handled the problem but it brings up some interesting situations.  Personally I do agree with the tenants that if these people wanted to be landlords they needed to learn the law.  They broke cardinal rule number 1 when they turned off the utilities.  I am amazed that they got away with removing the doors and windows.  Let me know what you think.

Shame, Shame, Shame Part 1 – MyFoxNY.com  –  A landlord on Long Island is calling them the tenants from hell. He says a couple broke into his house and is living there rent-free. So when he couldn't get them out, he called Fox 5's Arnold Diaz.

Shame, Shame, Shame Part 2 – MyFoxNY.com  –  They moved into a Long Island home without permission. The owners tried to get them out, and after eight months, they still wouldn't leave. Arnold Diaz already put them in the Hall of Shame. But the story didn't end there. And as you will see things get a little rough in the follow-up.

    I've been reading a lot lately about the launch of Google's StreetView.  If you have not yet experienced StreetView, here is a link to a StreetView of the Golden Gate Bridge in San Francisco.  The technology that Google is using is quite impressive.  They have roving vans that have 360 degree cameras mounted on their top (see pic on right) that snap images of everything they pass.

     As expected, Google has faced tons of feedback stating that this is a privacy violation.  Google is a company that has prided itself on a do no evil approach to life and business.  They are heavily into the green movement with using solar power for their offices and data center, they pay a lot of attention to making sure that their employees have great benefits, etc. and overall try to keep a good image of themselves.  With a company that has such regard for their employees and the earth, how could they have such disregard to the public?

     The Google Street View idea is great.  As with all great things, it's a double edged sword.  You can do good things with it and you can do bad things with it.  Since Google initiated this effort, and they are the innovators in the field they should take responsibility on making sure it is implemented property.

     Google however, has taken the same stand on these items as they have with items on Youtube or in their search engine.  "Tell us it's there and we will remove it".  I can understand that point for copyrighted items.  After all, if you own the copyright to "War and Peace" all you need to do is search for a few lines of the text to find relevant items.  Similar searches can be made for television programs, songs and downloadable games.  How can a person find a picture of themselves that was taken by a van driving around the streets of a city?  Google could have taken the process a bit farther and blurred out the faces of people.

     A few examples of the pictures that have been taken are below. There is one story I read where a woman looked up her work area only to find a snapshot of her car pulling into her work parking lot.  That item seems perfectly innocent unless you take into account she knows that the parking lot shown is one she never uses.  The picture was snapped on a day where she came into work 2 hours late.

     I won't even go into the whole rationale that terrorists can now see any target they want to plan their attacks.  Want to see Madison Square Garden?  Here it is.

     Than again, you could always ask yourself….how much is that kitty in the window?

     Even TV shows blur out the license plate's of cars they show on Television.

     Honey, what did you do on your lunch hour today?

    On the plus side.  I can see how this can be beneficial to those in the Real Estate market.  You can at least do an initial scouting of a neighborhood long before making a trip out to seethe physical property!

web log for us – those that can see both sides to anything.