Meeting the Neighbors

[Account Closed]

My husband and I just purchased our first investment property. The house is a row home/townhouse so it's important to build a good relationship with the neighbors. Would it be a nice gesture to give them a small gift upon introducing ourselves? If so, what is appropriate - I was thinking maybe a bottle of wine? Thanks

[Andy Webb]

I think I would introduce myself and explain what I do and what I expect from my tenants and leave my card with the neighbors.  No need to go overboard.  

Most neighbors that I meet as we are rehabbing our rentals-to-be are very excited to meet the new neighbor (e.g. they think it is yours truly), then they are a bit deflated when I explain it will be a rental.  They usually rebound a bit when I tell them the rehab plans, added value to the neighborhood, and how we operate as rental owners.  I make sure they understand that I expect my future residents there to be good neighbors themselves and if there are any issues - give me a call.  I also like to explain our screening/resident due diligence process so they know we are careful in our selection and try to place good residents in their neighborhood.

Last thing, if you are doing a rehab - show them inside when it is done.  The neighbors love seeing that dilapidated property that they have hated for years turned around and revitalized.

Andy