Property Management, Tenant Selection, Real Estate News & Tips

New Landlord Introduction Letter

By on November 16, 2016 in Education with 12 Comments

new landlordCongratulations! 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 owner/landlord. Not only is this a friendly step to take with your new tenants, it will also be necessary to inform them to whom and where they need to start sending their rental check.  

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 where and to whom the rent check needs to be delivered
  • Share your contact information
  • Tell them how to submit maintenance requests

You should also reassure your tenants that their current lease agreement will be upheld.

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.

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).

Here’s a sample letter to send your new tenants to introduce yourself as their new landlord.

Sample Landlord Introduction Letter

Katy Belle
22 Apple Drive
Greypeaks, TA 97555

16 November 2016

Alex French
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.

Sincerely,

Katy Belle

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.

Fixed-Term Lease

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 agreement about an early lease termination if they offer incentives like covering the cost of moving expenses or offering a rent discount.

Month-to-Month Lease

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

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About the Author

About the Author: Kaycee (Wegener) Miller manages marketing and media relations for Rentec Direct, bringing a unique perspective to the world of property management and proudly shares industry news, products, and trends within the community. .

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There Are 12 Brilliant Comments

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  1. Shanna says:

    Thanks for the article… Also, just a heads up as I’m sure you may want to edit… You have a lot of spelling and grammatical issues.. “inspeciton”

  2. Shantey says:

    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.

      • iris romero says:

        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.

  3. Hannah says:

    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.

  4. Dennisdrady says:

    Can a land lord sue me and keep my deposit if they sold the property

  5. ronald brawner says:

    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

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