Updated almost 7 years ago on . Most recent reply
Closing on our first multi-family on Monday
We're inheriting two tenants...
Upper tenant is on a month-to-month lease. (His lease expired and turned into month-to-month.)
Lower tenant's lease is up Feb 1. So that will go month-to-month as well at this point too since i don't have enough time to get them onto a lease.
After closing, I'm planning to give them:
Letter of Introduction
State disclosures (Lead, etc) letter
Tenant info form (to get their contact info, etc)
Maintenance request form
Questions:
- Should I insist on putting them on leases?
- One of the apartments is paying a little less than market rate, but the place is being kept in pristine condition. Should I leave the rent alone for now?
- Is there anything else that I am forgetting/unaware of?