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Updated almost 2 years ago,
Inherited Tenants - How to Introduce Yourself
I have entered into a contract to purchase my initial duplex and anticipate acquiring two tenants who have occupied the property for a significant period of time. Currently, both tenants are on month-to-month leases, and the closing date for the purchase is scheduled for the 14th of the month. As the new landlords, what would be the appropriate protocol to follow with the tenants? Specifically, what are the recommended steps for introducing ourselves, and how should we proceed with regards to transitioning the tenants onto our month-to-month lease? Moreover, when should we provide the new lease for their signatures and when would it be appropriate to expect them to return it to us? Finally, is it customary to conduct all of these steps in person, or is it acceptable to transmit the documentation by mail and request a timely return?