Best way to introduce yourself as new landlord?

[Therese Drapeau]

Hi there,

I will be puchasing my first income property shortly and would like to know how others have introduced themselves to the tenants.   Want to make a good first impression while being professional. Any thoughts?

[Dennis M.]

Don’t mistake of being overtly kind and thank them as being tenants . The normal dynamic of a an adult conversation with diplomacy does not apply here . Shake their hand hand them a card and tell them you’ll be honoring the lease . Be firm right out of the gate

[Patrick M.]

I wrote a very short and sweet letter when I took over one building and I was cocky on the second and met them in person. I was too green and they began trying to push me around. A very bad experience at the time but a great learning experience.

Regardless, be prepared for a tenant to test you. I would be prepared for this:

“He said I can pay my rent....”

“He told me I could leave my broken down car...”

“I always_______, and he never had a problem with it.”

Some may mean well and it is just there nature others you will decide need to go. I would be prepared to say no to any and all immediate requests.

One of my best inherited tenants had tested me a number of times before falling into line.

[Therese Drapeau]

Thanks for the advice!  I can understand how tenants will be unsure and insecure of change.  Like any change in business or leadership, some people will choose to bail and I am expecting some turnover.    Sounds like less is more in this case, and to keep it short and simple.   

[Chris Courteau]

Hi,

I’m looking at getting into multi family homes and some have tenants already occupying the apartments. As a first time investment what are the pros and cons of having tenants already there? I want to know all of the things I could be getting into.

[Ryan Murdock]

I hand deliver a letter and leave it in the door if nobody is home. All the info they need and nothing they don't:

July 7, 2018

To all occupants of:

123 Main St

Anytown, ME 04401

Dear Residents,

This building has been sold and the new owners have hired ACME Property Management to manage the property. Effective July 7, 2018 all rent payments should be in the form of a check or money order, made payable to "ACME Property Management LLC" and mailed to:

ACME Property Management

PO Box 123

Anytown, ME 04401

Please be sure to include your address with each payment so that it is applied correctly to your account.

You can also hand deliver rent to our office located at:

321 Main St

Anytown, ME 04401

Cash payments will not be accepted under any circumstances.

All maintenance and other issues will be handled by our office which can be reached at (555) 555-5555.

All current rental agreements will be honored until such time we can review each one to make changes as necessary. We appreciate your cooperation during this transition and aim to make it as seamless as possible.

Sincerely,

-ACME