Meeting my tenants - first time landlord!
Hi BP Folks,
One year since I started on BP, I've finally purchased my first Buy and Hold in Chicago Pilsen area. It's a 3 flat and is fully rented, due to my FHA loan guidelines, I will be moving in once one of the leases is up. I have already communicated this with the tenants and they are understanding that they cannot renew their lease.
I am meeting one on one with the tenants this weekend and I want to ensure I communicate the appropriate rules and guidelines.
There are parking spots that the tenants use, free of charge, one of the tenants seems to think that I am responsible to clean the snow from this parking space. Am I correct to assume that I am not at all responsible for this?
Do I need to have them re-sign any leases? Or do I automatically assume the current leases.
Anything else I need to communicate other than where to reach me?
Big thanks to you all.
Polina