Closing on our first multi-family on Monday

[Dan Rice]

We're inheriting two tenants... Upper tenant is on a month-to-month lease. (His lease expired and turned into month-to-month.) Lower tenant's lease is up Feb 1. So that will go month-to-month as well at this point too since i don't have enough time to get them onto a lease. After closing, I'm planning to give them: Letter of Introduction State disclosures (Lead, etc) letter Tenant info form (to get their contact info, etc) Maintenance request form Questions: - Should I insist on putting them on leases? - One of the apartments is paying a little less than market rate, but the place is being kept in pristine condition. Should I leave the rent alone for now? - Is there anything else that I am forgetting/unaware of?