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Updated over 8 years ago,
How to properly transition old tenants to new landlord??
Hello BP Family!
I've recently purchased a 3 family fully occupied. I'm very excited for this transaction as I've been on the website for a while and have finally made the first step towards my goals.
My question for everyone is how do I successfully take on the new tenants with no issues? They are all currently Month to Month but I am not sure if I need to give them a new lease agreement (If they want one) or make them sign my own Month to Month agreement (I believe I should). Are they still governed under their previous landlords rules?
Note: I have some lease agreements written up already and have written a letter to notify them I am the new landlord. I also have called all the tenants to mention I would like to sit when them in person to address any concerns.
Lastly, I plan to occupy the third floor of the property. How would you guys go about letting the tenant know that he will have to leave the property ?
Thank you all in advance!!