Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago,

User Stats

6
Posts
1
Votes
Gill Winslow
  • Cleveland, OH
1
Votes |
6
Posts

Once properties transfer to an LLC how to communicate with tenant

Gill Winslow
  • Cleveland, OH
Posted

Hello BPer's, 

I need your help! I just transferred my homes from my personal name to my LLC. I live in Ohio and Ohio does not track owners on the SOS website. My LLC is registered via a 3rd party and my name is not anywhere on the articles of incorporation (as I am trying to keep some privacy but also have that wall between tenants).

With this being said, after you transfer your LLCs from your personal name to an LLC, I understand you cannot change the terms of the existing tenants lease, however, is there some sort of short and simple communication I can give the tenants letting them know that the home has transferred ownership and that their lease agreement held up and house under XYZ LLC?

User Stats

572
Posts
572
Votes
Derek Dombeck
  • Real Estate Consultant
  • Wittenberg, WI
572
Votes |
572
Posts
Derek Dombeck
  • Real Estate Consultant
  • Wittenberg, WI
Replied

Gill,

You can absolutely transfer the lease from yourself personally to your LLC. This doesn't change the terms of the lease at all for the tenants. This happens every time a rental property sells to a new owner. Simply send a letter to the tenants stating who and where to make payment to and life moves on.

Happy Investing

Derek Dombeck

User Stats

1,308
Posts
2,045
Votes
Matthew Olszak
Pro Member
  • Real Estate Broker
  • Chicago, IL
2,045
Votes |
1,308
Posts
Matthew Olszak
Pro Member
  • Real Estate Broker
  • Chicago, IL
Replied

@Gill Winslow Based on your post I am guessing you don't want your tenants to know you are still the owner. Here is what I use as the start of my letter for management changes:

And then below that it lists other payment methods, how to submit maintenance requests, etc. For a change in ownership, simply change that first part to:

  • Matthew Olszak
  • matt@olszakrealty.com
  • 847-447-6824
  • Steadily logo
    Steadily
    |
    Sponsored
    The Best Property and Liability Insurance for Rental Properties. Great rates and tailored coverage specifically for short, mid, and long-term rentals.