Took possession of three unit apartment today. Top Priorities?

[Carini Rochester]

I just left my closing and now I own an occupied three unit apartment building. The building is in good repair. I have only met one of the tenants. I plan on self managing. What are some of the most important first steps I should take? What should I communicate to the tenants? How should I communicate? What should be my top priorities? I appreciate any suggestions and advice.

[Mike Mocek]

Hello @Carini Rochester Congratulations on your acquisition, how exciting is that!  The very first thing I would do is confirm utilities and make sure that everything that needs to be transferred, is.  Then, I would introduce myself to all of the tenants, face to face, and create a relationship with them.  Ask them if there are any major outstanding repairs (Plumbing, Electrical, Safety).  After you have done a face-to-face, I would give a "Welcome Packet" which can just be a folder with how to communicate with you, pay rent, etc, I also will include a small gift, like a gift card, bottle of wine, etc (You will see what they like with your face to face conversation. I am all about building strong relationships in my business whether it be colleagues, clients, tenants, etc, I want my tenants and colleagues to be happy and know that I am here.  Good luck and congratulations again!