Hello, I'm Your New Landlord

[Arnie Guida]

I'm closing on a 4plex on Friday and would like to set a tone for the relationship with the new tenants. They are all month to month. This isn't my first time taking over an existing building, but I'd like to try and up my game a little bit, be a little more professional...I'm really just a Mom and Pop type deal now...maybe I should stay that way...

I would like to know how others handle the transition. Letters? Knock on doors to introduce yourself? I have met some of the tenants already...maybe just have contact information and instructions on how rent is collected. Like I say, this isn't my first time, I'll probably just see how it goes.

Just curious how others handle it.

Thank you,

Arnie

[Marcia Maynard]

We introduced ourselves first by letter and asked to meet with each household. In our introductory letter we assured them we would not be raising the rent at that time. When we met in person, we asked to see everyone's ID, collected tenant data, and presented new rental agreements. One tenant asked to see our ID and proof of ownership before she shared any information with us! Can never be too careful these days! We were okay with that. We also talked with the tenants about our management style and our values. We also asked them about what was important to them. We asked them if they had any any maintenance or repair needs and immediately attended to them. That won them over.