Letter to current tenants

[Karen Seguin]

Good afternoon, I am currently closing on my first commercial multi-family property and all of the tenants would like to stay and I would like them to stay as well. Are there any good outlines or templates for an introduction letter to the tenants, or any major points I should make sure I put in my letter?

Located in the Mid-West, thank you!

[Chris Seveney]

Quote from @Karen Seguin:

Good afternoon, I am currently closing on my first commercial multi-family property and all of the tenants would like to stay and I would like them to stay as well. Are there any good outlines or templates for an introduction letter to the tenants, or any major points I should make sure I put in my letter?

Located in the Mid-West, thank you!

THere is no template, most would probably use chatgpt but also be careful to not incorporate any contract terms etc. 

[Andrew Freed]

@Chris Seveney offered great idea. Chatgbt is been super useful in helping with resources like this. Here is an example of what I utilize for onboarding value add multifamily. I own and operate around 300 doors. https://docs.google.com/document/d/13SEAyhH7We1kjI8DlDVfxERP...

[Evan Polaski]

@Karen Seguin, it all depends on what you are trying to convey to your tenants.

At minimum, any welcome letter should provide updated contact info for maintenance requests and mailing address for rent payments, and if the legal notice address is different than lease, include that.

This can also be a good way to politely remind people of any general rules that you expect them to adhere to.  While you can't create limitations against their lease and legal rights they have for quiet enjoyment, things like keeping common areas free of clutter or routine maintenance items that are tenant responsibility can often be added to help keep the expectations on both parties clear.

[David Spurlock]

Hey @Karen Seguin

I would double down on what Even Polaski said. Send a letter giving them your/pm's contact and a detailed explanation on how to pay the rent (Helpful with older residents if you are going from check to online billing. You could even offer to help set them up on automatic payments). 

It can be good to let them know that the terms and conditions of their lease are not being changed. In my experience, tenants on a lease often have a unwarranted worry that their lease will be canceled when the building sells.

[Gino Barbaro]

@Karen Seguin

Congrats. Let them know you're the new owner, that you will be abiding by the lease terms they currently have, give them your info to be able to make payments, any website/payment portal platform.

I would keep it short and sweet. If you feel the need to let them know you will be taking care of any outstanding maintenance requests, that may be positive news for them

Gino