Congratulations! You just purchased a new investment property.
And it even comes with rent-paying tenants, so you can start collecting rental income right away!
If you are self-managing your new property, it is a good idea to introduce yourself as the new landlord or owner. Not only is this a friendly step to take with your new tenants, but it will also be necessary to inform them to whom and where they need to start sending their monthly rent.
New Landlord Introduction Letter
A new landlord introduction letter is an excellent way to introduce yourself to your new tenants and make the transition process smooth for them.
You should reach out to your new tenants to:
- Introduce yourself
- Collect tenant contact information
- Tell them how and to whom to pay their monthly rent
- Share your contact information
- Tell them how to submit maintenance requests
See a sample letter below to send your new tenants to introduce yourself as their new landlord.
Additional Details to Include in your Landlord Introduction Letter
Your landlord introduction letter gives you the opportunity to reassure your new tenants their current lease agreement will be upheld. You should also consider asking for tenant information and scheduling a property inspection.
Tenant Update Form
A new landlord introduction should include a Tenant Update Form for your tenants to return to you. This will include names of occupants and contact information. It may also ask for relevant information regarding vehicles, pets, employment information, and emergency contact details. Here is a sample of a Tenant Update Information Form from ezLandlord Forms.
You may also consider coordinating a property inspection with your new tenants. This will be a great opportunity to meet your new renters in-person and address any maintenance concerns right away. If you are utilizing management software that includes a tenant portal, this is a great time to give them their login information and show them how to submit maintenance requests online.
Using a Property Manager
If you purchased a property that is under property management and plan to keep the same management company they should be able to direct you on the best way to introduce yourself (if at all).
Sample Landlord Introduction Letter
22 Apple Drive
Greypeaks, TA 97555
16 November 2016
51 Acorn Ln
Greypeaks, TA 97555
Dear Mr. French:
I would like to take the time to introduce myself as the new Landlord of [enter address]. Your current Lease and payment terms will remain in effect. However, all payments, maintenance requests and correspondence need to be sent to the address listed at the top of this letter.
If you currently use an automatic draft, cash deposits or electronic payment for your lease payment, please contact your financial institution immediately and take the necessary steps to transfer the automated payments.
I have included a Tenant Information Form for you to fill out. Please complete this form and return it me at your earliest convenience. It is important that we have all your important information updated for our files.
We would like to inspect and address some minor concerns noted in the inspection. Once we’ve received your Tenant Information Form, we will contact you to coordinate an inspection time.
I look forward to providing you with exceptional management, including prompt maintenance service, as well as maintaining a safe and enjoyable place to live.
Check with your state laws to see if there are any official or legal steps you need to take to inform the current tenant about the transfer of ownership.
Remember that if your tenants are on a fixed-term lease, you have to honor the conditions of the lease the original landlord/owner made.
If the tenants are on a month-to-month lease, you may consider having your new tenants sign a new lease with you after proper notice has been given.
What if I do not want the current tenants to keep living at the property?
If you want to terminate the current lease agreement there are a couple of steps you need to take depending on the type of lease agreement.
The renters at the property are entitled to live at your new house throughout the length of the lease agreement they originally signed. You must agree to take over the lease when you purchase a rental property with renters on a fixed-term lease.
Once you have assumed ownership, you may discuss options with your new tenants to arrive upon a mutual agreement to end the lease early. Any lease can be legally terminated before its end date if both parties agree. Landlords may be successful in reaching an agreement about an early lease termination if they offer incentives like covering the cost of moving expenses or offering a rent discount.
If your tenants are on a month-to-month lease, they have fewer protections for staying at the property after a sale. If you want your new tenants to move, you simply need to provide your tenants with written notice of the end date of their tenancy. Depending on your state or city, you are required to notify your tenants before they must move, typically 30-90 days in advance.
It is extremely important to check with your local laws, as some cities are starting to enact ‘no cause evictions’ or ‘no cause terminations’ protections for tenants. Similarly, if your new property is under rent control, you may not be able to ask the tenants to vacate. This will be an important consideration if you are purchasing a rental property and you know you will want the current tenants to move out.
Learn more about The Legal Eviction Process here
*This article was updated in 2020 to provide you with the most relevant information.
Great catch Shanna! Thanks for you pointing it out 🙂
What about the security deposit who will get that the new owner or or the seller keeps it or give back to the tenant
Great question! Typically the security deposit and lease are transferred to the new owner at the time of sale. This article gives a little more detail: Renter’s Rights When Your Landlord Sells Your Rental Home
Is there an article on what to do when the previous owner did not give you tenants security deposit??
Situation: Tenants have been in place for 10 years, have had 2 owners. The last owner was a slum lord and says the security deposit was never given to him therefore he never gave it to us however the tenants both provided us with a tenant estoppel letter stating that the first owner did give the 2nd owner the security deposit. My tenants are moving out in 2 weeks and I know legally I only have 30 days after such to return security deposit.
I think you probably have to pay the tenant’s the security deposit with your own funds until you are able to recoup the security deposit from the previous owner, since you were technically in charge of the security deposit when ownership of the lease and property was transferred to you. You will probably need to work with an attorney to discuss your options about how to work with the previous owner to gain access to the security deposit funds. I wish you the best of luck with this unfortunate situation. Keep us posted with what happens.
Absolutely not. The deposits get transferred the day of closing along with the Tenant Estoppel letter acknowledging the monthly payments and the escrow amounts. These will be reflected on the HUD or Closing Statement as Seller credits to Buyer, Buyer will then have to deposit said amount into a disclosed account and then must provide account info to Tenant.
Thank you for providing further clarification Iris.
I’m renting a house month-to-month and because I’m pregnant and my due date is close (April), I gave the landlord a 30 days notice that we are moving out. Two days after I sent the notice,I received an email from the landlord that somobody wants to buy the house and wants to keep it rented,and asked us if we are interested. We said,YES we are interested but because the closing process takes about a month,I can’t afford to wait that long to have the security that we are still staying in the house,so we asked the landlord to sign a contract for one year and the new landlord to honor it (by law). A day after the potential buyer saw the house,I receive an email from the landlord that “the new” owner is going to contact me in order to sign a lease with him. But how can I sign a lease with someone that it’s not legally a new owner? And I can’t wait till he has the closing, cause I am getting closer to my due date and I need to know for sure if I am staying in this house or not. What would be the legal documents that I should ask/have in order to sign the contract with the new owner and not with the actual landlord?
You could sign a lease with the new owner to start on a specific date, like the date that the owner takes possession. And ask the current owner if you can sign a lease with him for xx amount of time that will expire or transfer if the property is sold by a specific date. That way you are double covered.
Can a land lord sue me and keep my deposit if they sold the property
It completely depends on your situation. I would speak with a lawyer for further legal advice. Good luck.
I bought an investment property and the tenants have no lease.. I want them to move out of the house…. How can I do this
Check your state laws for how to send notice to a tenant to move out of a property.
My parents bought a home for me to live and rent from them.. they sold the home and the new owner is lying on the court papers saying I rented from him a year ago and it was a oral agreement and I didnt pay him.. It’s false.. Escrow just closed Oct. 6. what can I do..
Oh no, that sounds terrible. Well, since you have proof that the new owner did not own the property until October, the case shouldn’t go very far. If the case goes to court, you should bring documentation of the exact date of ownership change. And any proof of payments that you made to your parents. Your parents should also write you a letter stating the dates they owned the property and confirming that you were renting from them until x date. Good luck!
Is my landlord legally responsible to send me a certified letter stating the property has been sold? Also the new landlord contacted me and said that obviously my year lease still stands, I’ll just direct payments to him. Do I still need to sign a new lease with the new landlord before I start sending him the payments before my old lease is up? Because right now the only lease agreement I got is with the old property manager. Sidenote I do reside in the state of Michigan. Thank you in advance for any helpful insight you can give me on this matter.
In most cases, your original lease gets taken over by the new owner. You do not necessarily need to sign a new lease with the new owner, but sometimes the landlord will decide to do so. Not every state requires official notice be sent to the tenant stating that the property has been sold. In a lot of cases, the first time a tenant finds out about a property sale is when the new landlord contacts him or her.
am the landlord and i have just sold my property to someone……How do I write a letter to introduce the new landlord to my tenants?
It can be very simple. You simply need to provide contact information for the new landlord to your tenants. You can then suggest to the new landlord that they send their own letter to the tenants as well. You can direct them to this article for tips.
What if you’re not notified at all of the sale of the home you are renting? Also the new landlord demands and deposit and first months rent in 18 days then tells you if you do not pay them in 18 days the full deposit and a whole months rent you will have 3 days to vacate the premises? Is any of this legal?
Hi Jennifer, There are a lot of factors at play here, so it’s hard to speak to your situation directly. However, in general, your current lease should transfer over to the new landlord. If you are in a termed lease agreement, the new landlord legally must pick up this obligation with the same rules and stipulations until the lease terms. (The exception is if you both agree to an addendum.) If you were on a month-to-month agreement, the new landlord can require you to sign a new lease agreement (whether termed or a new month-to-month) or you may move, but they must give you the legal notice for your area. In most states, this is at least 30 days. Additionally, your prior deposit should have been transferred over from the previous owner to the new owner or given back to you; often this can cover (or help cover) the new deposit. You can find more about the details of buying a tenant-occupied home here. This is directed at landlords but might contain some pertinent info that could help you understand the obligations of the new landlord a bit better. In the end, you may be served best by consulting with a legal expert in your area or contacting your local fair housing authority.
I recently purchased a four plex, 1 bed, 1 bath, living room, kitchen, and shared laundry rooms. . I’d like to increase the rent on two of the units, in order to bring them all to the same amount as the other two units. Are there limits? Two unit pay $650, one pays $600, and one pays $575.00. They all are in month to month rental agreements with precious landlord. I will be renewing rental agreements.
Congratulations Pauline for the purchase. Every state (and some cities/counties) has its own regulations on rent increases from how much to how often. To get the most accurate information for your area I recommend reaching out to your local housing authority or real estate board and to your real estate attorney to be sure you are in compliance prior to drafting those rental agreements and rent increase notices. Wishing you all the best!
I am concerned about my New owner. I WAS ON A LEASE WITH A PRYOR OWNER I was sent a welcome letter without the rent amount. everything else was covered ,example.. late fees, new Owner Expectations and Policies Property Inspection.
Maintenance Request & Communication Grounds for Termination of Tenancy.
I am not sure when my lease is up, I am on month to month and would like to get a copy of the old lease to determinine its ending
I asked the new owner to put the amount in the new welcome letter and she refused because she said it is not a lease because it does not have the amount I pay. and I need a copy of the least for a emergency pandamic proof of rent amount. She wants to raise my rent and change things in 4 days.. Is this legal??
If I understand your remarks, it sounds as if you were on a fixed-term lease, it ended (but you don’t know when) and it rolled into a month-to-month agreement with the previous owner. Perhaps that previous landlord can offer you a copy of the lease? If that’s not a possibility, you might be able to substitute a rent receipt, statement, or invoice received from the past or current landlord and/or a check voucher or bank statement report to show payments you’ve made prior to payment difficulties.
It appears your new landlord is attempting to avoid accidentally changing your relationship from a month-to-month tenancy into a lease. They are correct that a welcome letter is not a lease and can contain any information they deem useful to help understand the transition from previous to new ownership. Its main purpose is to explain the change of ownership and give you contact information and instructions on how to pay rent going forward.
I can not offer legal advice but would recommend contacting your local housing authority to ask them how much notice a new owner must give before raising the rent on a month-to-month tenant as these are state and area-specific regulations.
What is my legal rights don’t know landlord has to give me more than 30 days notice I move out is my lease was up last year not this year he didn’t offer me to sign a new lease last year he saying it was up this year it was not how can a landlord just tell you in 30 days you have to move out for no reason and you did not do nothing no reason nothing for him to tell you to move he was not going to renew the contract the lease contract don’t he has to give me more than 30 days to find a place it’s hard these days to find anything to rent and that I can afford and to save money to find something else
Hi Martha, 30 days is standard for a month-to-month tenancy. However, the amount of notice a landlord needs to give for a month-to-month tenant can vary by location so I recommend you reach out to your local housing authority to verify. I know it is difficult to find housing these days and I wish you all the best in your search.
Hi, I am taking over control of my Father’s rental property as the new owner. all tenants are in month to month lease agreements currently, however once we move in we would really like to implement fixed lease contracts. what is the best way to go about doing so? what is the notice I need to give and does the lease contract need to be written up by an attorney?
Hi Erica, You have two options: one is to offer a lease as a voluntary option — the other is to give them a notice that they must move if a lease is not signed. Depending on which option you choose, your local housing authority and/or state real estate board is a great place to get your state (and local area) specific rules and regulations. They will be able to guide you regarding timing, wording, etc. And, they might also have pre-made forms and notices available for your use. Having said that, since notices and leases are legal concerns, I would highly recommend you work with an attorney familiar with your local rental laws and regulations to either draft your notices and lease or at minimum review any forms you use or draft yourself.