How to Write the Perfect Landlord Introduction Letter

Table of Contents

Every landlord wants to make a good first impression and start the relationship on the right foot. It begins with an intro letter

Key Takeaways:

  • Objectives for sending a landlord intro letter include creating a beneficial landlord-tenant relationship
  • Landlord intro letters also help ensure rent continues to be paid on time
  • A new landlord letter can include sections for an introduction, contact information, updates to tenant and lease information, and instructions for paying rent

Investing in a new rental property, especially one that already has tenants, is one of life’s most exciting moments. Generating revenue once escrow closes can make you feel pretty good and set you up for a more secure financial future. 

Many tenants are thrilled to get a new landlord, but only sometimes. There are other circumstances when such major changes can sincerely upset tenants and cause problems before you even get started.

The solution is to introduce yourself in a friendly, informative, and authoritative way. Tenants have a legal right to know when their building changes hands, but it’s also the perfect time to set this new relationship off on a positive note. Read on to find out how to write a landlord introduction letter that will knock the socks off your new tenants. 

Landlord Introductory Letter

A landlord introduction letter is a document provided to all current tenants listing the names of the new landlords and any relevant information tenants may need to know immediately. It’s important to note that many tenants in Washington, D.C., have the right to purchase their rental first. They are also afforded the right to know who the new landlord is if they decline.

Landlord Letter Objectives

This letter of introduction does more than the obvious. It introduces the new landlord, but it also outlines any changes taking place in the rental agreement. Some typical objectives for a new landlord intro are to:

  • Explain the process for paying rent
  • Share contact information
  • List business hours
  • Explain how to submit maintenance requests

Taking over a new property requires a lot of legwork to get up to speed. Some of this can be initiated with the intro letter. Take some time to make sure you include everything you need to be a successful property manager tenants adore.

Additional Documents to Include

Writing a new landlord letter gives you a chance to put your tenants’ minds at ease about many things. You can assure them that the terms of their lease are still valid and the rent amount is upheld, but it’s also a great time to touch base on some other elements, such as:

Tenant Information Update

You’ll want current information on all your new tenants, and the best way to do that is by asking them to fill out a form and return it to you. It should request all occupants’ names, contact information, vehicles parked at the residence, emergency contacts, and employment information.

Property Inspection

Inspecting any new property you buy is always a smart move. Send along a notice of property inspection with your intro letter to let residents know you plan to inspect. It’s an efficient way to check out the condition of your new property and address maintenance concerns. 

Rent Adjustments

A good time to announce a rent change is in the introduction letter. Make sure to include the date the changes will go into effect. List any meeting dates scheduled to go over changes, as well.

Having a mutually beneficial relationship with your tenants requires transparency, and an introduction letter is a great place to start. It shows your new tenants that you are honest, friendly, and open to improvements in the community.

Basic Landlord Introduction Letter Template

Your intro letter can be customized as needed, but they tend to all have some fields in common. Use this basic template to help you craft your own landlord intro letter.

Gloria Treatwell
774 Miles Drive
Greenlea, TX 97555

Nov. 16, 2023

Jean LaRue
22 Pastshal Ln
Greypeaks, ID 97555

Dear Ms. LaRue:

I want to introduce myself as the new property manager of [address]. Please be advised that your current lease and payment terms will remain in effect. 

However, all payments, maintenance requests, and other correspondence must be sent to the new address listed at the top of this letter. Please make note of this change. If you currently use an automatic draft, cash deposits, or electronic payment for your lease payment, please contact your financial institution and take the necessary steps to transfer automated rent payments.

I have included a Tenant Information Form included with this letter. Please complete this form and return it to me at your earliest convenience. It is important we have all your essential information updated for our files. 

We also want to inspect the property and address some minor concerns recently noted. We will contact you to coordinate an inspection time once we’ve received your Tenant Information Form and related documents.

I look forward to getting to know you and providing you with exceptional management, including prompt maintenance and creating a safe and pleasant place to live.

Sincerely,
Gloria Treatwell

 

Tweak this template to include what is relevant for your situation. Include funny anecdotes or other personal touches (if you feel it’s appropriate) to let your tenants know you’re approachable and considerate.

Your landlord introduction letter is vital to your burgeoning relationship with your tenants. Some may have considered moving when they heard a new landlord was coming in, but your letter could be what convinces them to stay. Write from the heart and be transparent about business changes on the horizon. This can help you build a strong relationship with your renters. 

Reduce the Paperwork Hassle With Help From the Pros

Managing property is one of the most rewarding jobs on the planet. That doesn’t mean it’s easy. Nomadic Real Estate provides property management services in the Greater Washington, D.C., area. Our team knows how to identify common mistakes before you make them and will use our experience to help ensure you have stress-free renters. Contact Nomadic Real Estate for more information on your property management needs. 

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Enhanced Reporting

Your portal includes a selection of extremely useful reports. Reports are available in the “Reports” section, and are distinct from the financial statements. Unlike financial statements which are static records, Reports are dynamic real-time records that will update with current data every time you view them. 

Scroll down to learn more about Reports:

Navigate to the "Reports" module in your portal:

Owner Portal Reports
  • Keep in mind, these reports are dynamic records. They will refresh to display current information every time you view them. 

Enhanced Rent Roll Report:

Enhanced Rent Roll Report
  • The Enhanced Rent Roll Report will show the rent amount, last payment date, move-in date, lease expiration date, and security deposit amount for each of your tenants. 
  • It will also show a portfolio summary with occupancy percentage, vacancy loss, and more!

Unit Comparison Report:

Unit Comparison Report
  • If you own multiple units (or buildings) with Nomadic, you’ll get access to the Unit Comparison Report. 
  • This report enables you to quickly compare financial performance between your units at a glance without toggling between individual reports. 

Income Statement Month-Over-Month:

Income Statement by Month Report
  • The Income Statement Detail – Monthly Report serves as a month-over-month record of portfolio performance. You’ll see itemized income and expense categories and can track monthly. This report will update with fresh data every time you view it. 

Financial Statements

Financial statements will be published to your portal on a monthly basis. The statements are found in your Documents library, and provide a historical record of all financial performance. The statements serve as a snapshot of financial performance over a given period, and are static documents (unlike Reports, the statements do not update/change in real-time). 

Scroll down for more info about the Financial Statements in your Documents library:

The Documents area contains monthly financial statements:

Owner Portal Documents
  • The statements in the Documents are are static documents. They are posted to the portal once a month to serve as a historical record of financial performance. 

Download a statement to see month and YTD financials:

Owner Portal Property Statement

You'll also find a month-over-month operating statement:

Month over Month Statement

Portal Communication Tool

You can use your owner portal to communicate with our team. Any messages you send through the portal will go straight to your Account Manager. When we reply, you’ll get an email notification and you’ll also see the message in your portal next time you log in. 

Here’s an overview of using the communication platform:

Click "Communications" and navigate to "Conversations":

Commincation Dashboard Screenshot
  • The communications module will contain a record of all messages that you create through the portal. 

Click the "New Message" button and send your message:

Owner Portal New Message Screenshot

Responses will show up in the conversation ticket:

Portal Conversation Response Screenshot
  • You’ll get an email notification whenever you get a response, and you’ll also see the message in your portal next time you log in. 

You can reply in-line using the comment box:

Owner Portal Comment

Each conversation will be logged in its entirety:

Portal Conversation Snapshot

Understanding the Ledger

Your portal includes a ledger with all transactions. The ledger is populated with data in real-time as transactions flow through our accounting software. Much of this information is also available in the Reports area, as well as the Statements in your Documents library, but the ledger is the most comprehensive resource for diving into the details. 

Please scroll through the sections below to get a better understanding of how to interpret the ledger. 

By default, transactions are sorted chronologically:

Owner Ledger Dates
  • The date reflected in the lefthand column is the actual transaction date, not the “bill date”. This is the date the transaction was actually processed. 

If you have multiple properties with Nomadic, you'll see the address for each transaction in the "Location" column:

Ledger Property Column
  • You can filter the ledger to look at just one property, all properties, or specific sets of properties. 
  • If you only have one property with us, you’ll just see the ledger for that property. 

The Description column displays the transaction type:

Owner Ledger Description Column
  • BILL: this is an expense transaction, such as for repair costs or management fees.
  • CHARGE: this is a transaction  billed to the tenant, most typically a rent payment. 
  • NACHA EXPORT: this is a credit we processed to your distribution account. This type of transaction is how you get paid! 

The Amount column shows the dollar value of each transaction:

Owner Ledger Amount Column
  • Positive Amounts: if an amount is positive, it reflects a transaction that is payable to you. Typically, this will be a rent payment that we collected from your tenants. On occasion, a positive number could also signify a journal entry or credit adjustment. 
  • Negative Amounts:  if an amount is negative, this is a transaction that is either payable to Nomadic or is an amount that has already been paid to you. Typically this will be for repair costs or management/leasing fees. Owner draws (net distributions into your checking/savings account) also reflect as negative amounts, since they have already been paid to you. 

The Account Balance column shows a sum of positive/negative transactions at a given point in time:

Owner Ledger Account Balance Column
  • Account Balance should always equal zero after a net distribution has been processed. When the balance is zero, this means that all expenses have been paid and you’ve received the remainder as net operating income, leaving a balance of zero (meaning: no one is due any money, as all funds have been distributed appropriately). 

Navigating the Propertyware Owner Portal

Your portal includes some extremely useful features that help you understand your property’s financial performance at a new level, with real-time transparency into every transaction.

Scroll through the snapshots below for an overview of portal navigation! If you need more help or have specific questions about using the portal, you can reach out to your Account Manager any time for a screen share. 

You can filter all info by date range or property:

PW Portal Filters

View a snapshot of income and expenses on your dashboard:

PW Owner Dashboard View

See every transaction in real-time on your ledger:

Owner Portal Ledger View

Statements and forms will be posted to your documents library:

Owner Portal Document Library

View a suite of real-time financial reports:

Portal Reports View

See a running list of all bills, and drill down for more detail:

Owner Portal Bills View

Under Bill Details, you'll find dates/descriptions/amounts and more:

Portal Bill Details

You can also communicate with your Account Manager through the portal:

Owner Portal Communication Tools

How do net distributions work?

Net distributions keep your accounting clean and simple. Each month we’ll collect rent from the tenants, deduct any repair expenses for the previous month and any management/leasing fees for the current month, and credit the remaining net operating income to your account. 

Net Distribution

You’ll receive a statement via email each time a net distribution is processed, and can view all transaction details in your Propertyware owner portal.