I'm about to close on a 6 unit property with all long term tenants (> 1 year). I was planning to change their locks as a level of security since the previous property manager may have extra copies of keys. Another option is asking the tenants if they'd like their locks replaced and giving them the option to keep their current locks if they prefer.
When you inherit new tenants - do you always change their locks? Or is it more normal to let them keep their keys & current locks and change the locks when you get a new tenant?
Keep their current locks. Only change the locks when a tenant moves out.
@Andrew Schrader I do not always change the locks; if you feel the locks should be changed don't ask the tenant, it is your building.
@Andrew Schrader leave them as is until they move out, but make sure you have a copy of the keys
@Andrew Schrader I keep the current locks until they move
Ditto on what others have commented.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing