5 Reasons Credit Reports Dont Work

5 Reasons Credit Reports Don't Work

By John Nuzzolese

What??? Credit reports don't work? This must be a joke, right? Tenant credit reports are one of the most important screening tools in the rental housing industry.

In order to secure a good tenant for your rental, it is critical that we practice proper tenant screening. This includes verification of all the reference information on a detailed tenant rental application. A credit report is an important final step of verifying the tenant's financial history, or track record.

Credit reports contain important factors in evaluating a person's creditworthiness. Creditworthiness, of course, is what you are looking for if you plan to hand over your rental property to someone.

So What Are "5 Reasons Credit Reports Don't Work?"

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Screening Tools for Before the Credit Report

Tenant Finder ™ Pre-Screening Telephone Worksheet
or The LPA Pre-screening Prospect Card (with html code for Internet ads)
The LPA Rental Application
The Landlord Reference Qualifier
Credit Reporting Disclosure Notice
Tenant Finder ™ Qualifier Chart

What's Your Preferred Method of Rent Payment?

What’s Best for Real Estate Investors : LLC or S Corp?

By Thomas J. Franklin

There are many Real Estate Investors that are unsure whether they should establish a Corporate Entity or not. The primary purpose of having your Real Estate Investments, in a Corporate Entity, is to protect you personally. You want Asset Protection. Ideally, for Buy and Hold Investments, you would want to create a LLC, for each property. This may seem a daunting task; and you may be thinking how to manage all the bookkeeping. Depending on your area and the value of each property, you may want to consider grouping properties into a single LLC that does not exceed a total monetary threshold.

To better illustrate this concept, I will share my Company's Business Model. Each acquisition is placed in its own Clone LLC, with the only member of the Clone LLC being the Umbrella LLC. This funnels all net gains and losses, from each Clone LLC, to ACT Investment Properties, LLC that operates as the Umbrella LLC. This Business Model only requires two Bank Accounts: a Corporate Checking Account and a Corporate Savings Account...

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KITCHEN SINK LEASE? The LPA Lease is a Landlord's Lease Agreement

The LPA Rental Application with Do's & Don'ts Video

The LPA Rental Application

Free Rental Application for LPA Members

"It is far better to have no tenant than to have a bad tenant."

The LPA RENTAL APPLICATION has after years of research and improvement, developed into a great collection of the best and most effective screening ideas .

I feel very strongly about strict tenant screening.

• The LPA Rental Application gets straight to the point
• A very effective rental application
• Isn't unnecessarily long or intimidating
• A collection of the best ideas that we have found necessary to assemble into what we believe is one of the BEST RENTAL APPLICATIONS around!

The LPA Rental Application has eliminated many tenant problems by helping us to do a better job screening the applicant. Qualified tenants are more than happy to fill out the form and show you how wonderful they are. Find out as much pertinent information on your rental applicants as you can before entering into any lease or rental agreement.

Do's and Donts - The Rental Application

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To Order,

LPA Landlords who use the LPA Rental Application also use:

The Landlord Reference Qualifier

The Tenant-Finder™ Telephone Worksheet

The LPA Tenant-Finder™ Prospect Qualifying Chart

The Credit Reporting Disclosure Notice

The LPA Lease

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