www.biggerpockets.com/rookie110
This week’s question comes from Rhett on the Real Estate Rookie Facebook Group. Rhett is asking: How do you inform an inherited tenant of changes in ownership after you close on a property?

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.

Here are some suggestions from Ashley:

Send an estoppel agreement to the tenants so you can verify the lease
Give your new tenants a welcome package with all the needed information
Check your local laws about rent increase timelines 
Prepare for the potential of vacancy in case a tenant disagrees with the rent change/ownership change
And more in the episode…

If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).

Rookie Podcast 110: Rookie Reply: Informing Inherited Tenants of a Change in Ownership

BiggerPockets’ goal is to make 1 Million Millionaires by sharing the power of investing in Real Estate to create financial freedom in your life. 

Join our hosts and guest to become part of the growing community taking control of their financial journey on our largest and longest-running podcast that breaks down real estate investing strategies that work today—from deep-dive interviews to coaching calls, news analysis, and more. 

Make your next real estate investing move with confidence…tune in to the #1 real estate investing podcast.

Rookie Podcast 110: Rookie Reply: Informing Inherited Tenants of a Change in Ownership

BiggerPockets Real Estate Podcast