General Landlording & Rental Properties

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Nicholas Mann
  • Valhalla, NY
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Closing soon on fully occupied rental (next steps)

Nicholas Mann
  • Valhalla, NY
Posted Jul 16 2022, 17:55

Hello all,


After a few months of having a property under contract and waiting for lawyers and title to clear everything we are finally ready to close on an investment property. This property is a mixed used commercial (retail storefront) and 2 apartments above. The property is occupied with leases in place. My question is what would the next step be once we close? Should I send out updated leases with our new landlord information ( I know the old leases are still binding until they expire) . Do a walkthrough and talk to all the tenants? Not sure what the proper etiquette is once you close on an occupied building. Any and all tips would be greatly appreciated. 
thanks in advance

Nick

Upstate New York, New York

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