Acquired Tenants with new Purchase

[Kalyn Williams]

Hey Everyone, 

We are in the process of buying a Duplex with tenants already in place. I have found a couple of issues with the seller and would like some input! 

Issue #1: Originally my real estate agent told us that each unit comes with the following appliances: stove and fridge; and that both units water bills are the responsibility of Lessor (landlord) . I received a copy of the leasing agreements to confirm what I was told was documented, and this is what I found: 

According to the lease the owner has acknowledged the following appliances: refrigerator, stove, microwave, and dishwasher for Unit A. Also for Unit A, the Owner states the water bill is the responsibility of the Lessor (landlord).

For Unit B No appliances are listed or acknowledged in the Lease. Also for Unit B, the lessor takes responsibility for no utilities. 

Therefore I had my real estate agent reach out to the sellers and the explanation is as follows: They had a management company draw up the lease for the second unit and unfortunately they did not list the appliances or the responsibility of the water bill. 

So, I want to get the seller and the tenant to sign an addendum before we proceed with the property acknowledging the appliances at minimum are the sole property of the Lessor.  But, here comes Issue #2!!

The Seller has not told the tenants the property is being sold, and we have an inspection this coming Friday, so this is another issue. The sellers agent told my agent to tell us to write the tenants a letter and post it on their door that the property is now sold etc. In my opinion this should be the responsibility of the seller to communicate with the tenants before the property is sold that nothing changes within their lease, just the property will be under new ownership. 

My concern is I dont want to start a relationship with these tenants that is in any way not hostile. Because I am not sure what they told the tenants about the inspection but I am sure they will not be too happy about being lied to. Just want to get some input on this as well and if any of you have a sample letter I can look at that is introducing the new payment method to the new tenants etc please send it my way!?  

[Mike McCarthy]

@Kalyn Williams as long as it’s in a nice area, I’d knock on the door and introduce yourself - maybe with your realtor in tow. I agree the seller should do this, but ah well.

Be positive, explain that not much should change short-term. Let them know what improvements you’ll likely be making. And let them know that their lease goes through xx, and you’ll adhere to that.

Start off on a good foot (but of course be honest too)