How do I properly introduce myself as the new landlord?

Question

I close on my first duplex tomorrow and I am wanting to send an introduction letter to the tenants who are currently occupying the other unit. Are there any specific details I should include in the letter? I know of a few, just looking to confirm with someone.

Greg Scott · Answer

A letter to the residents is always important. It needs to outline key things such as 1) How to pay rent 2) Who to contact with questions 3) Who to contact for maintenance emergencies 4) What to stop doing, like auto-pay to the old owners 5) and many other details.

How you introduce yourself is a matter of preference. Some people want to be known as "The Owner". At our properties, we are managers of the company that owns the property which is how we introduce ourselves. (That statement is actually the most accurate in our situation because we own only a fraction of the total equity.) Being a manager is sometimes better because you can deflect any resident anger about policy changes towards "the company" or "the investors".

Nathan Gesner · Answer

Seriously, don't over-think it. I try to introduce myself in person and I talk a short letter with my name, contact information, payment information, and instructions for communication. I recommend you provide one reliable form of communication that is in writing (email is my preference) that allows them to ask questions, report ordinary maintenance, etc. Then give them your cell phone or something for emergencies only. It's important you make this clear and that you hold them accountable. They can only use the emergency line if something requires an immediate response (flood or blood).

Chris Merchant · Answer

Another important thing to add is: Do you have any questions/concerns? and allow them to interact as well, this may reduce future headaches or confusion.  In person would be good if you're comfortable doing so but be sure to bring a flyer/pamphlet with you with all the pertinent information, this allows you to potentially see how they are living in your new property.

Sam Yin · Answer

@Nathan Gesner

What Nathan said.

I have a Lease Amendment template I use with all the necessary changes. Change of ownership. Change of lease terms, if any. Payment and contact information.

That should be it. You will learn how each tenant has their specific needs as time passes.

Nathan Gesner · Answer

Don't be this guy:

or this guy:

How do I properly introduce myself as the new landlord?

How do I properly introduce myself as the new landlord?

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