Taking over a property with tenants, what do I send them?
I'd love some examples of information you guys put on letters to tenants of a property you took over. I thought I would put our contact info such as, where to send payments, how reach us via telephone, what to do in case of emergency and possibly a little about ourselves. I thought I would also include a letter for the renters to fill in contact info for themselves and include a self addressed envelope for them to send it back to us.
A few of the tenants are currently not under lease and are doing month to month. We'd like to address this as we like all of our tenants to be under contract. Would it be appropriate to do this within the first contact with those tenants? How long should we give these tenants to get under contract?
One property is residential and one is commercial. Does any of your answers vary based off which type of property it is?
As always, I appreciate the BP community and all you do.