Fired Property Manager

[Adam S.]

Hey everyone!

I recently fired my property management company.  I will be self-managing. Do I need to issue an addendum to the lease and change all the emergency contact info for repair, how to pay rent, etc. Tenants also needed renters' insurance to which they paid through the managing company. If I want them to have their own insurance, would this also be an addendum? 

How can I make this a smooth transition for the tenants and myself? 

[Drew Sygit]

@Adam S. it's only smooth if you are organized. 

Yes you will need an addendum for all listed issues. Also, don't count on the tenants finding their own Renters Insurance. You may need to hand-hold them to a company.

Are you getting tenant security deposits? Where will you place them? This usually also needs to be updated in an addendum.