Apartment builing After-Purchase Checklist

[Igor S.]

I will be closing on a 6-unit apartment building at the end of the week and I found myself scrambling to put together a list of things to do post-closing. Please chime in with any suggestions or comments!

So far:

1) Notify tenants about change of ownership

2) Collect information about tenants (who lives in each unit, ID's etc). The previous owner had non-existing record keeping.

3) Change main entrance door locks. I have no idea who else had access to the building (previous property manager, etc) so want to stay on the safe side.

The previous owner/landlord has owned the building for over 30 years so I want to make sure that this change of ownership goes as smoothly as possible.