I usually hand them a short letter that states I am the new Landlord, their lease remains in effect until the expiration date, how they can pay rent, how they should contact me for regular issues and for emergencies, and then I set an appointment to inspect within one week.I like to inspect and answer questions within the first week.

We told our contractor that our budget was 55k, but our real budget is 65k for emergencies and situations like this.

How to contact me for true emergencies (if different)5.

Aside from what everyone else has said evaluate your job security and emergency reserves to decide this.

Do I need to issue an addendum to the lease and change all the emergency contact info for repair, how to pay rent, etc.

One downside is liquidation or access to capital if you need it in an emergency. 

While your savings will save you during emergencies, investments will generate better financial opportunities.

Let them know you appreciate them reaching out for help, which is better than not being able to pay.In the past six months, I've had about 40 tenants apply for rental assistance through the COVID Emergency Rental Assistance Program.

The five county region saw a 10% decrease in new listings compared to January of the preceding year and a 17% increase from the preceding month.It may be prudent to note emerging trends when considering the critically low levels of housing inventory and the influx of job creation and population growth.

Installation can vary significantly as well, particularly if you are paying for emergency service.