Multifamily Payment Schedule and Tenant Information

[Matthew Lindsey]

Hi,

Im getting close to closing on my 1st multifamily property and I'm in need of advice and opinions. A little background on the property: The property is 2 brick ranch duplexes on crawl spaces and on one piece of property. The tenants are long term and month to month with verbal leases, I have signed estoppels. My questions are:

1.) I have no information on the tenants. As soon as I close would you have the tenants fill out new tenant applications with ID's and just tell them its for our informational purpose and that no background check will be run. Since we need a way to contact them other than mail, etc.

2.) One tenant pays on the 31st of the month and the other 2 pay on the 7th of the month. Would you try to figure out how to have them all pay on the same date or leave it as it is?

Any help is appreciated.

Thanks,

Matt