What to do with transferred leases?

[Chang Hee Lee]

Hey BP,

Been a crazy few months... started a house flip at the beginning of summer and ran into some complications there and quite a few real estate deals that seemed to drag on forever. Now, I started managing a property for someone and many questions come to mind. 

The new property owner inherited two tenants but in their previous leases that stated the tenants renewed for the 2018-2019 school year, the payment and maintenance requests are forwarded to the former owners. I'm wondering if I just need to attach an addendum stating changes to these aspects of the lease to me and other parts of the lease as well or have them fill out entirely new leases? Any guidance would be greatly appreciated!

-Chang

[Mike McCarthy]

@Chang Hee Lee Usually, just a letter explaining who to send the rent checks to, how to handle requests, etc is sufficient. You don’t usually sign a new lease. That said, as long as you can convince the tenants to sign a new lease, you can do that too. Just make sure there’s language in it nullifying the old lease signed on xxx. And realize they may not agree to any substantive changes.