Haven’t met my new tenants

[Simon Obas]

Greetings. Just purchased my first Triplex and it came with tenants. I didn’t meet them during the home buying process. What’s the best way to introduce myself? Should I simply knock on their door? Should I write a letter? I also need to tell them how to pay their rent. Any advice is greatly appreciated. Thank you.

[Matt Pastier]

@Simon Obas We bought a four plex last month that had tenants. It was off market so we had lots of conversations with the seller, but if you didn’t hopefully you got their leases and contact info. Here’s how we handled it.

The previous seller wrote a transition letter. It explained that the sale had happened and contained our contact info. Once we closed, we called each tenant and setup times to meet them in-person back to back. We told them it was to introduce ourselves, walk the apartment, and discuss how our company works.

At each meeting we:

- Spent a few minutes getting to know them

- Walked the apartment

- Checked the toilets for leaks (I pay water)

- Asked how they liked their neighbors

- Asked if there were any current issues with the apartment

- Discussed our non-negotiables: take care of the apartment, no smoking, no pets, and pay rent on time (those in leases were already bound to these items)

- Explained our process for maintenance requests and our hours of operation

- Explained their options for paying rent (Cozy or mailed check)

We then followed up each meeting with an email containing a summary of what we discussed and any follow-up items (maintenance).

I personally like meeting them in-person because it gives you a chance to see how they live, first impressions, and they get to see there’s real people behind our business. It’s not for everyone though. If you have a hard time telling someone “no” I wouldn’t go in person. I had two tenants immediately try to get me to buy unnecessary things, and I had to tell them no on the spot. For most people, it’s easier to say no on email or phone rather than in person.

Hope this helps or gives you ideas. Congrats on your new property!