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Updated over 9 years ago,

User Stats

30
Posts
17
Votes
Drey S.
  • Rental Property Investor
  • California, CA
17
Votes |
30
Posts

Just closed on 7 Unit with Undermarket Rents... Advice For Reaching Tenants?

Drey S.
  • Rental Property Investor
  • California, CA
Posted

Hi All,

Well, thanks to this blog, I decided it was time to dump the negative cash flow condo by the beach for a 7 unit multifamily that will cash flow about $100/ door with the under market current rents.  I just closed and now I'm trying to figure out how to handle the current tenants.

The place was run pretty casually by a doctor and his wife who were friends with the tenants. I want to write a letter of introduction to each of the units letting them know we run a tight, professional ship. I'd also like to have them all fill out new "Applications" (as I have no idea who has what background) and they are all on month to month leases. 

Anyone have any good advice about how to introduce myself and some of the first steps to take now that I'm a multi-unit landlady? :)

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