Property ownership changes occur regularly. Maybe you found new apartments that you would like to own, or you are no longer interested in the current one. If you’re purchasing your new property, it’s a good idea to identify yourself as the new landlord. This is important as it informs your new tenants where they will start sending their monthly rent. There are many ways in which property owners can alert tenants of personal changes. Issuing new landlord introduction letters is the most common way. It is important to provide tenants with a new landlord introduction letter. This may be due to selling a rental property, a landlord changing his estate’s control, or a landlord moving away from self-management.
Writing a new landlord introduction letter is not that hard. But just in case, this article will guide you on how to write one and also give you more knowledge on this topic.
What is an Introduction Letter
An introduction letter is a type of letter used to introduce someone you know to someone else. Introduction letters can help develop working connections that contribute to job opportunities, company development, and partnerships. In this case, an introduction letter is used to introduce a new landlord to the tenants, informing them of a change in ownership.
New Landlord Introduction Letter
A new landlord introduction letter informs tenants of a change in ownership in a rental property. When a landlord plans to contract a property management company to take care of his tenants and property, reminding the tenants of the change is crucial for a successful transition process. Introducing new managers keeps your tenants interested in the transformation process and provides them with details on rent payments and how to send maintenance requests.
Things to Include in an Introduction Letter
All letters have elements and information that make them a complete letter. A new landlord introduction letter is no exception. Before beginning your new landlord introduction letter, make sure you know all the vital information you need to include.
Below is the information you should include in your letter:
- Start by briefly introducing yourself or the property management company that will be taking over the property. State the name of the company and website if there is one.
- Attach a tenant form in your letters where they will fill in with their information. The information could include details such as their names, contact information, number of vehicles, etc.
- The next important information is details about rent payment. Give information on the new processes of paying rent and who will be collecting the rent. Provide a bank account where the tenants will deposit rent if needed.
- Proceed to include your contact information for the new property manager in case the tenants want to reach you/them should any issues arise.
- Lastly, explain to the tenants how they should submit their maintenance requests. It can be through email, phone, or a middle-man/caretaker. Indicate the necessary steps they should take when doing this.
There is some additional information that many people forget to include in their new landlord introduction letter. Information like inspection dates, tenant update forms and property manager information are crucial.
Below are the additional details that we think you should consider adding to your introduction letter.
Tenant update form
In some countries, updating the details of a tenant is required by law. This is when new residents move in, a contract is renewed, a new management firm takes over, or the terms and conditions of the lease are updated. Therefore, you should include this form in your letter. It contains tenant details such as their names, contact information, pets, vehicles, etc.
Property inspection date
Include a date when you will conduct a property inspection. This is a great chance to meet your new tenants and talk about any maintenance that needs to be done. You can also show them how to submit their maintenance issues.
If you bought property owned by a property management company and want to keep the tenants, or maybe you want to change the property management company, include this information in your introduction letter. However, keeping the same management will help you in introducing you to your new tenants.
Sample Introduction Letters
Now that you know what you should include in your new landlord introduction letter, you have a rough idea of how to write one. But for a better understanding of what it looks like, we have included two samples below to guide you and to help you know the format of the letter.
Sample letter 01
4023, South street
21 February 20XX
Dear Mr. Grinch,
I want to take the opportunity of introducing myself as the new landlord of the leased premises. Your existing terms of lease and payment are still valid. All transactions, repairs, and correspondence requests are therefore sent to the address specified at the top of this letter.
Notify your lending institution instantly and take the appropriate steps to forward the auto transactions if you are already using an automated draft, a cash deposit, or electronic payment for your rental payment. For you to fill out, I included a tenant update form. Please fill in this form and give it back to me as soon as possible. It is critical that we update everyone’s essential file information. In advance, I appreciate your consideration on this matter.
Some envelopes were included for your convenience. I look forward to serving you with excellent management, including swift repairs and a safe and comfortable atmosphere to live in. If you have issues or queries, do let me know.
Sample letter 02
4023, South street
21 February 20XX
Dear Mr. Grinch,
I want to spend the time introducing myself as Briancol’s Property Manager. The existing terms of lease and payment will continue to apply. However, all fees, maintenance requests, and correspondence must be sent to the address above.
Please contact your site managing director Rodgers Smith if you have any issues or concerns about your house, rental, or maintenance requests:
I have entered a tenant information form for all of you to fill up. Please fill in this form and return it to me as soon as possible. All your important details for our files must be updated as It is important.
We want to inspect some minor problems that were noted during the inspection and fix them. We’ll contact you to arrange the time for the inspection once we got your tenant information form.
I look forward to providing outstanding management, including easy maintenance and a secure and friendly place to live.
Termination of the Current Lease
Depending on the type of lease agreement, there are two steps you need to take if you want to terminate the current lease agreement.
Below are the two steps explained in detail:
Terminating fixed-term leases
If you inherit tenants who are on a fixed-term lease, they are entitled to continue living at your new property for the entire duration of the lease agreement they had signed initially. You and the tenants have to reach a mutual agreement if you want to terminate the lease early. You could offer to cover their moving costs as an incentive to encourage them to move.
Terminating monthly leases
If your tenants are on a month-to-month/monthly lease, they are not entitled to stay after a property sale. You only have to give them a written notice of their residency’s final date if you want them to move. You should provide them with the notice thirty to ninety days in advance. The duration depends on the country you are in.
Lastly, some states are starting to pass protection laws such as ‘ no cause evictions’ for tenants. Therefore, it is important to review local regulations.
Download Free Templates
Writing a new landlord introduction letter is not a difficult task, especially if you have a guide. We have provided downloadable introduction letter templates on our website to make writing these letters easy for you. They are well formatted, so you don’t have to cram the format. Visit our website and check them out. You can also download them and try writing with them.
A new landlord introduction should be about three-quarters of a page with about three to five paragraphs.
The new landlord introduction letter is given to tenants to inform them of a change in ownership and other information like the amount of rent to be paid,
A new landlord introduction letter provides you with the opportunity to assure your new tenants that their original lease arrangement will still apply and will be upheld.
Writing a simple, brief letter welcoming new management to your tenants is a perfect way to ensure that they are updated with current property changes. The procedures for paying rent and issuing maintenance reports can be different, for example, so it is important that your tenants are aware of them. The letter can come from the landlord, the property manager, or the property management company itself. It should be professional and detailed, specifically describing any adjustments that require the attention of a tenant.
We hope that the information we have given in this article has given you a better understanding of a new landlord introduction letter, how it looks like and how to write one.