New MF Landlord Checklist?

[Ericka G.]

Hi all! Closing on my first MF this afternoon - a triplex (yay!).  This is our first time inheriting tenants as our other properties were purchased vacant...any tips for the best way to kick things off on the right foot? Any things I MUST do to insure the ownership transition runs smoothly?

My initial list:

- Get tenant deposits from seller (done)

- Get tenant leases/names/contact info (partially done)

- Send tenants intro letter/email with new landlord contact info and payment details 

Anything else that you'd recommend?

[David Zheng]

Just a short and courteous introduction is good. New management is usually not a big deal to tenants. Just remember to look through THEIR old leases VERY well to make sure you understand it. It will definitely be different from your own and check for who pays what utilities, etc.

And also...CONGRATS! :)