Landlord Introduction letter for Tenant moving out

[Trischa Scott]

Hi All,

I've just purchased a duplex using an FHA loan. The MTM tenant downstairs was notified by previous owners during the process of the sale that they will be required to vacate the property (JULY 31). I know this because we originally wanted for them to vacate property mid July in order for repairs to be completed prior to owner occupancy in August.

I am in the process of writing introductory letters, however, I'm not sure whether to address this in the introductory letter and follow up with an official notice to vacate -OR- write the letter with the same verbage used in the upper tenant's introductory letter with no mention of the last date of the rental and follow up with official notice to vacate.  I've copied and pasted what I wrote to the upper tenant's introductory letter. Also, the property is in Wisconsin if that has any bearing.

Thank you in advance for any advice!

Dear Tenant

RE: CHANGE OF OWNERSHIP

We wanted to take this opportunity to introduce ourselves. As you may be aware, your unit was purchased by us on May 10, 2017. We sincerely appreciate your assistance and patience during the inspection and appraisals that were necessary to complete the purchase.

The lease you signed will remain in effect. The change in ownership will not affect any of the terms. Your rent is current until May 31, 2017. Moving forward, however, all payments, maintenance requests and correspondence shall be addressed to the below contact details.

[Matthew Abrahamzon]

Congratulations on the purchase! I too used an FHA for a duplex. I would just give the MTM tenant the notice to vacate. The previous landlord should have already given them notice and you shouldn't need to but you can just to make sure the picture is 100% clear.

Just a word of advice down the road since you have an FHA. I would refinance your loan as soon as you are able to with favorable rates. I am currently in the process of refinancing my loan to get out of the FHA, so I will be able to use it again and only put 3.5% down on he next property. It sure beats the traditional 25% needed for an investment property. But now since the refinancing process is taking several weeks and you cannot have two FHA loans out concurrently, we may miss a duplex that just recently came up for sale. That way if you already have your place refinanced, you will be able to scoop up a deal quickly with another FHA as soon as it comes along. That is if you plan on getting more after this one. ;)

Best of luck