 LL introduction letter (by Dave [MO]) Jul 23, 2021 11:48 AM
 LL introduction letter (by MC [PA]) Jul 23, 2021 12:04 PM
LL introduction letter (by plenty [MO]) Jul 23, 2021 12:26 PM
LL introduction letter (by 6x6 [TN]) Jul 23, 2021 12:29 PM
LL introduction letter (by Sisco [MO]) Jul 23, 2021 12:34 PM
LL introduction letter (by Robert J [CA]) Jul 23, 2021 1:27 PM
LL introduction letter (by BRAD 20,000 [I]) Jul 23, 2021 2:33 PM
LL introduction letter (by Deanna [TX]) Jul 23, 2021 5:21 PM
LL introduction letter (by DannyC [MO]) Jul 23, 2021 6:11 PM
LL introduction letter (by Sparky [PA]) Jul 23, 2021 8:23 PM
LL introduction letter (by Robin [WI]) Jul 24, 2021 9:22 AM
LL introduction letter (by Chris [VA]) Jul 24, 2021 12:18 PM
LL introduction letter (by Dee Ann [WI]) Jul 24, 2021 9:40 PM
LL introduction letter (by Jim [OH]) Jul 25, 2021 9:14 AM
LL introduction letter (by Ray-N-Pa [PA]) Jul 27, 2021 9:50 PM
LL introduction letter (by Dave [MO]) Posted on: Jul 23, 2021 11:48 AM
Message:
Recently company made a SFH acquisition by 1031 exchange.
Will send out an LL introduction letter letting the currant tenant
know of new ownership and were to deposit rent money. There is a current lease that expires in November, so the company will
require a new lease at this time with an increase of $75.00
($725 to $800)
My question is, would you include this new rent amount as part of the introduction letter. Bottom paragraph. Or would you wait until the current lease expires in November and will be month to month, then set an appointment to go over and sign new lease with the new rent amount ?
Thanks in advance --173.47.xxx.xxx |
LL introduction letter (by MC [PA]) Posted on: Jul 23, 2021 12:04 PM
Message:
I am on the fence. A heads up so they can start looking if they want is nice. It is also good to know when and how much it will go up. I am not sure if the current tenant will bail faster. They would be breaking the current lease though. --73.230.xxx.xx |
LL introduction letter (by plenty [MO]) Posted on: Jul 23, 2021 12:26 PM
Message:
All season climate location? Less likely to look in Dec and just pay increase until spring. Whatever this entity thinks their business plan is. Shouldn't be hard to rerent for more money anytime. --172.58.xx.xxx |
LL introduction letter (by 6x6 [TN]) Posted on: Jul 23, 2021 12:29 PM
Message:
Following. --73.120.xx.xxx |
LL introduction letter (by Sisco [MO]) Posted on: Jul 23, 2021 12:34 PM
Message:
I would wait until 60 days before existing lease term ends to increase rent rates and withdraw the existing lease conversion to MTM.
--149.76.xxx.xxx |
LL introduction letter (by Robert J [CA]) Posted on: Jul 23, 2021 1:27 PM
Message:
I have the previous owner and their agent send the tenant a "Good Bye Letter, with an introduction paragraph, saying the new owner will contact them". I get a copy too.
THEN I'd follow up with my own introduction. Give them my contact information, etc. I HOLD OFF with any major bad news like a rent raise. I'd first want to meet the tenants and do another inspection and take care of any issues. THEN AFTERWARDS I'd sock it to them with an increase. --47.155.xx.xxx |
LL introduction letter (by BRAD 20,000 [I]) Posted on: Jul 23, 2021 2:33 PM
Message:
Dave,
I would move one step at a time. Intro now. Too early to talk about increases.
Tell them when they sign YOUR lease in Oct/Nov.
BRAD
--73.102.xxx.xxx |
LL introduction letter (by Deanna [TX]) Posted on: Jul 23, 2021 5:21 PM
Message:
Another vote for "one subject per letter."
--137.118.xx.xxx |
LL introduction letter (by DannyC [MO]) Posted on: Jul 23, 2021 6:11 PM
Message:
I always welcome letter first. Follow normal renewal procedure. For me that is 60 days out send renewal notice explaining new rate. That letter explains we will be asking them to sign our lease at that time. --107.77.xxx.xx |
LL introduction letter (by Sparky [PA]) Posted on: Jul 23, 2021 8:23 PM
Message:
I prepare a letter for the Seller/Landlord to sign at closing, advising the Tenant that the property has been sold, and that future rent should be paid to the new landlord at the new address.
You need to have that notice come from the current landlord to the tenant to establish credibility, so that the tenant doesn't think they are being scammed by receiving a change of payment notice out of the blue.
I would not offer the new tenant a new lease at this time. Wait until you have a bit of experience with them. What if you decide you need to get rid of them? You might want to increase their rent a great deal more to incentivize them to leave.
--73.40.xxx.xx |
LL introduction letter (by Robin [WI]) Posted on: Jul 24, 2021 9:22 AM
Message:
I'm with Sparky. Wait until you know whether you want to KEEP the new tenant or not. You might want to offer renewal with a very very large increase to encourage them to move!
--104.230.xxx.xx |
LL introduction letter (by Chris [VA]) Posted on: Jul 24, 2021 12:18 PM
Message:
I agree with waiting for the 60-day renewal notice to inform tenant about a rent increase. --71.246.xxx.xxx |
LL introduction letter (by Dee Ann [WI]) Posted on: Jul 24, 2021 9:40 PM
Message:
I agree send welcome letter now; wait for 60 day renewal to introduce a new lease and rent increase. --75.11.xx.xx |
LL introduction letter (by Jim [OH]) Posted on: Jul 25, 2021 9:14 AM
Message:
I also agree with the others. I have done the intro letter now and talk money later plan in the past. --184.57.xxx.xx |
LL introduction letter (by Ray-N-Pa [PA]) Posted on: Jul 27, 2021 9:50 PM
Message:
New year is only 30 days longer than that......
But have them sign a 15 month lease so they will not consider moving until Spring.
You would be setting a bad tone by saying hello and here is your raise.
I would add a feature that they appreciate in the first 30 days and then let them know that this increase still keeps them below the rental market place. --24.101.xxx.xxx |
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