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How to Inform Inherited Tenants of a Change in Ownership

Inherited tenants are common when purchasing real estate investments. Often, landlords will sell properties with tenants (and leases) still in place. So how do you notify your new tenants that a change of ownership is in place? When you inherit a tenant, you often inherit a lease as well, so it’s important to know exactly what the tenant is paying for rent, their security deposit, and their lease terms during your due diligence period. If you want to notify your new tenants of an ownership change, make sure you do so professionally, so they reach out to you on your business phone, during the hours you’ve set availability at. It’s important to get off on the right foot from the start with inherited tenants, in order to minimize vacancies, evictions, and headaches. ~~~~ Question of the Episode 👇   / 459863425060684   ~~~~ Get Tickets to BPCon 2021: https://www.bpcon2021.com/ ~~~~ How to Handle Inherited Tenants: https://www.biggerpockets.com/blog/in... ~~~~ Reduce Your Risk, Use An Estoppel Agreement (Free Form Included): https://www.biggerpockets.com/blog/20... ~~~~ Join the Real Estate Rookie Facebook Group:   / realestaterookie   ~~~~ Follow Ashley and Tony on Instagram: @wealthfromrentals or   / wealthfromrentals   @tonyjrobinson or   / tonyjrobinson   Episode 110 Show notes at: https://www.biggerpockets.com/rookie110