Taking over a property from current property manager

[Tony Ngo]

Hello,

I'm taking over a 20 units apartment complex from a property manager that did not do his work.   I want to know the best way to handle current tenants.  I do have an onsite resident manager that helps with showing and collecting rent and maintenance request.  I just signed up with Buildium to have everything in one place so it's easier for me to manage.  A few questions as I am still learning best practices to manage from afar.

1.  Do I re - sign the lease with current tenants?  If yes, do I extend the lease end-date?  Or keep the original lease date?

2. Do I create a company to manage the units? The apartment is already under an LLC. I do have other single families that I manage as well. Maybe the new company can manage all of my rentals...

3.  Any tips/best practice for a successful take over and tips on creating a process to be most effective would be much appreciated.  

4.  If you are a current property manager and willing to help, please connect with me.