Skip to content
General Landlording & Rental Properties

User Stats

39
Posts
11
Votes
Derrick Carpenter
  • Investor
  • Shawnee Mission, KS
11
Votes |
39
Posts

Converting to managing my own property

Derrick Carpenter
  • Investor
  • Shawnee Mission, KS
Posted Jul 22 2014, 04:21

I have a property with some great tenants that pay on time and the house is a newer home with very few issues.  I have had a property manager in place for the last two years because I was only a landlord due to moving to a new home.  Now that I have decided to expand and have additional properties (purchased my 2nd in June), I am looking to take over as the property manager.

Any advice on how to best do this?  Here are a couple questions that I have.

1. Does the current lease stay in place?  I am assuming yes.

2. Do i meet with the tenants and send them a professional letter explaining the change in management?  I assume lay out how to pay rent, contact information and address any questions they may have.  

Regarding point 2.  How does the tenant know that I am who I say I am?  Should I work with my current property manager to inform them that the management is changing.

Please share any best practices that you may have used.

Thanks and let me know.

Derrick

Loading replies...