Introducing Myself as New Landlord / Conditions Report

[Account Closed]

First, the question then a little background.

-Do you sit down with existing tenants after acquiring a property or just send them a letter introducing yourself? If you send a letter how do you perform a mutually signed conditions report of the apartment?

Last month I acquired my first rental property, a duplex in the suburbs of Seattle, WA. I sat down with the tenant (only one unit was occupied) to introduce myself, fill out a conditions report and sign a new rental agreement. It went very well.

This month I am closing on another duplex in the same neighborhood. This time however, I have to raise the rent on one tenant by about 15% and it would be much easier to just send a letter rather than sit down with the person and explain why I have to increase the rent.

Your thoughts and opinions are appreciated.

[Andrea M.]

In the introductory letter request an appointment to meet with them face to face, it gives you a chance to meet and build a rapport with the tenant. I would also document in the introductory letter of the rent increase, this way the tenant is aware prior to meeting with you and when you get there the you can explain the reasons for the rent increase, and it will also give the tenant time to consider and decide on whether they are ok with the rent increase and possibly sign a new lease with you.

[Tom Goans]

I would highly recommend you introduce yourself to the person(s) who are making it possible for you to be successful. Tenants are the ones going to work to pay you. It is great public relations to become familiar with them and them with you.

You may find payments are more timely if you take the time.

[Lane Kawaoka]

I think its a good idea... However if you meet your tenant and you should ever need to evict them the tenant can use your meeting against you to pull some sort of racial/discriminatory claim. Total aloofness of the identity of your tenant is you best defense which is done by having a PM do everything. Also keep in mind in general it is not good to become friends with your tenants.

[Marie S.]

I just went through this. I just can't afford a PM right now. This is what I did:

I sent a letter and scheduled a time to meet. This gave me an opportunity to see how my tenants were REALLY treating the place. I made sure that they understood that I'm not making a note to instantly confiscate their deposit. I just need to know the condition of the place and if there is anything that I need to fix right away. If there is anything that is not normal wear and tear, they will have the opportunity to find a reasonable and reputable place to fix it.

They instantly unloaded every frustration with the place and appreciated me being upfront with them. I appreciated them telling me everything that's wrong: what was supposed to be fixed but the last landlord didn't get around to doing, what would be nice to have and so on.

One lady was so terrified that I was coming in to kick her out so she was looking for somewhere else to live. I had a chance to assure her that it was not in my intentions to kick out a "rent paying drama free" tenant.

One girl was upfront. She wanted to stay but she couldn't afford to based on when her other bills paid. I worked out a bi-monthly plan with her and her boss so that I'm paid directly from her check and we're both happy. She'll get to stay until the end of her lease. (I don't plan to make that a habit).

I have a lady that guards my parking space when she knows that I'm coming in and one waits at the door when I come to collect rent.

It's not about being friends with your tenants. One visit just sparked a relationship of mutual respect.

[Brandon Turner]

Hey @Account Closed welcome to the site! I'm located down near Olympia, so hello neighbor :) Be sure to set up some Keyword Alerts for "Seattle" or "Washington" so you'll be notified when we have local conversations.

To answer your question - honestly, I usually just send a letter. If they wanna move, they are going to move whether or not we build a good relationship. So I think a letter is probably fine, and just treat it like a business. Do what you feel comfy with :) They'll get to meet you eventually. (I know a lot of people are probably going to disagree with me, but it's worked well for me.)

Great to have you on the site!

[Zach Schwarzmiller]

Hi Grant, Welcome! I just bumped my tenants rents 20% in Snohomish County and I think they really appreciated the face-to-face meeting. We actually had a really good talk about why I needed to increase rents this much, utilities are increasing, the bill is ridiculous - they had no idea how much it was as they never met the old owner, he only sent letters. They all intend to be more conservative over the next year to prevent such a larger rental increase. And I know both of their intents is to stay for at least 2-3 more years - I've sent out letters before as well, but I seem to have much more positive feedback sitting down with them. hey had a professional property manager managing the building previously who treated them very poorly, so I don't have a hard act to follow which is quite nice. I was still able leave a smile on their faces when raising their rents +$200/month.

[Account Closed]

Thanks all

[Kyle Hipp]

grant, I am curious why you say you Have to raise the rent. I always meet face to face as they can see you true intent better. You can also see what you can do to increase the properties value while you are there and show them it will be worth it for paying the rent increase. I just fear if you buy the place and then send them telling them you are jackong the rent without doing anything for them that will not be good in either case. They either leave or stay and are not a big fan of you because they do not know your whole thoughts and do not feel they had any say in the place they call home.

This Business is all about serving. Serve well, get paid well.