Closing on property with tenant - what’s on the checklist?

[Albert Budnitskiy]

Hi everyone,

I'm closing on my first SFH rental in one week - and there is a tenant living in the house with a lease that extends for one more year. This tenant has generally been late on rent every month and incur late fees but ultimately pay the rent. However they are behind on paying late fees to the tune of a few hundred bucks overall. I want to set the right expectation as the new landlord and I'm wondering if any of you have suggestions as to how to better encourage them to pay all their rent and late fees in full going forward.

Also, does anyone have a suggestion of a checklist or things I should absolutely do when meeting with the tenant for the first time to set myself up for success in this relationship? 

Thanks in advance!

Albert