New Landlord inheriting tenants

[Brennan Hile]

I am closing on my first rental property at the end of December. Its a duplex with both units currently occupied. One lease runs until Feb 28th 2020 and other August 2020. I will be living in one unit when the Feb Lease runs out. 

Questions: 

1. The current lease requires 60 days notice if the lease will be renewed or not. If no notice by either is given it becomes a month to month lease. This would mean that basically the day I close i need to notify the tenant that their lease will not be renewed. How would you go about this?

2. What are best practices for keeping distance from the tenant? I don't want to be the land lord that lives next door to avoid any hassle or late night request to fix a dripping faucet. I have considered a PO box and telling them I am the property manager. Any suggestions?

3. The two leases have a combined $750 in non refundable pet deposits. Any chance I will get those from the seller at closing? 

I would love to hear any additional advice about becoming a landlord!

Thanks for the help. 

[Anthony Wick]

@Brennan Hile

1. Have the seller give the current tenant notice right now. This should be written in the purchase agreement.

2. If you cannot tell the truth to your tenant, then why should they be honest with you? You’re the owner, so be the owner. I have NEVER received a call in the middle of the night for some frivolous repair. Train your tenants.