Working
with Current Tenants during Transition
Source: Property Management for Dummies
By Robert Griswold
When you first acquire your new rental property, contact your
tenants personally and reassure them that you intend to treat
them with respect and have a cordial yet business-like
relationship. Deal with your tenants questions honestly
and directly. The most common concerns are usually
the potential for a rent increase, the status of their
security deposit, the proper maintenance or condition of their
rental unit, and the continuation of certain policies, such as
allowing pets. If you are not honest with the tenants,
you will lose credibility if you later decide to implement
changes that you did not acknowledge upfront.
Provide your tenants with a letter of introduction during
this brief in-person meeting. This letter provides
your tenant with your contact information, plus explains
your rent collection policies, the status of their security
deposit, and the proper procedures for requesting
maintenance.
Be sure to request an opportunity to perform a property walk
through with each tenant. Let the tenant know if you
will be implementing your own standard lease or rental
agreement form as well.