Buying new properties... The transition to ownership

[Donald Rohsner]

I am a new investor. I just closed on my first two rentals in Baltimore City. Two adjacent Duplexes.

I am having difficulty with getting available time with each currently occupying tenant to change locks, get leases signed and everything else.

The previous property manager was terrible and had barely any documentation. One lease is missing and a security deposit.

How do I reasonably work with my availability vs. tenant availability? (This isn't my full time work yet.)

How do I do this transition well? What are some lessons learned with this transition "you who have gone before me" would pass on? Any newbee advice would be great. I'm sure there's a ton I'm not considering.

Method of payment for rent thoughts? How many should I offer? Using Cozy and mail right now.

Lease help please. Using Master Lease on BP now.

Thank you,

Don

[Thomas S.]

Don't work with tenants make them work with you. Set dead lines and force tenants to comply. If you do not they will have you chasing your tail.

Drop off the new leases, give notice of when you are changing the locks. Tell them if they want the key they will be there when you change the lock. You will be signing the new lease at that time. If they need to pick up the key tell them to bring the signed lease with them. (I hope they are M2M leases).

Never give options if it can be avoided.

Management of your business needs to be done to simplify your life.