New Landlord Transition Letter

[Jay Levy]

Hello BP!

Im about to purchase an 8 unit property, my largest to date.  I wanted to see if anyone had any recommendations on the best process to notify the existing tenants of the change and where to send rent.  

I was thinking about having the current owner send a letter out the morning of closing with our contact info and new payment instructions.  

Would love any advice / templates.

Jay

[Jennifer A.]

I personally deliver letters on the day of closing (in the evening after closing has occurred). Allows me to introduce myself and say hello. If they aren't home, I either slip it under their door or tape it to their door and mail it as well. I want to give my contact information directly, not count on someone with one foot out the door to do it for me.

Here is the letter I use (and modify for each acquisition as appropriate):

Dear XXX, XXX and XXX:

My name is Jennifer A, myself and XXX are the new owners of the duplex located at XXX in XXX, WI.This change in ownership is effective today, December 29, 2016.The purpose of this letter is to do the following:

1. Notify you of the change of ownership.If you need to contact me regarding maintenance, your lease or any other issue related to the property, you can contact me via text or telephone at XXX.  Additionally you can email me at XXX.  Rent for January should be mailed to XXX and made payable to Jennifer A.
2. Notify you of my understanding of your tenancy.It is my understanding based upon the representations made by the Seller and the Estoppel Agreement that you signed, that you have a security deposit of $890.00.You are a month to month tenants (there is no written lease) and that the monthly rent is $890.00 and due no later than the 5th of each month.As the tenants, you are responsible for all utilities and lawn maintenance.The sole occupants are XXX, XXX and XXX.  I am including a copy of the estoppel agreement for your reference.I do note that you indicated on the estoppel agreement that you have a dog.Your previous landlord indicates that there is no dog occupying the property.If you intend to get a dog (or any other pet) in the future, we need to discuss it.There will be a pet deposit and a monthly pet fee.There is no pet fee or deposit for pets such as fish and I do not need to be notified of fish.
3. Provide you the following documents which will create a new written lease agreement that shows your continued occupancy and the terms of the occupancy.Please note that the new lease continues to be a month to month lease (not a year lease) and that rent is now due on the 1st day of the month.This new lease will start as of February 1, 2016.
   1. Residential Rental Contract;
   2. Rules and Regulations;
   3. Domestic Abuse Protections; and
   4. Contact Information

I will need all of this paperwork completed and returned to me no later than January 5, 2017.Failure to return this paperwork will be construed as notice that you wish to terminate your tenancy and your occupancy of the property will end on February 28, 2017.All paperwork should be returned to the address above.

1. If there are any repairs that need to be me made that you are aware of, please let us know as soon as possible.Appropriate notice will be given to you of any entry onto the property.At the current time, I believe the items you noted in your estoppel have been addressed by your previous landlord, XXX.

If you have any questions or concerns, please feel free to contact me.