New Landlord Advice...what changes can we make?

[Jackie Badiali]

We will be landlords in about 10 days if all goes as planned.

Question 1: Do you know if we can add an amendment to the rental agreement that is currently in place? The agreement doesn't stipulate a late fee for late rent payments and we'd like to add one since the payment history shows they have been 7-10 days late quite frequently.

Question 2: What other things do landlords typically do once they've bought an established property with tenants already there?

What changes can we legally make?

Your help is appreciated.

Jackie