General information, not legal advice. This template is a starting point. Laws differ by state and city, so have a licensed attorney review your final document before you use it.
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The short version
- Existing leases usually continue after a sale, so the new owner takes over the old terms.
- Give a clear date from which rent goes to the new owner, and how to pay.
- Say where the security deposit is now held. Many states require deposits to be transferred, or the tenant notified, when a property sells.
- Warn tenants to confirm any change in payment details by phone before paying.
What this letter is
When a rental property changes hands, tenants need to know three things fast: who their landlord is now, whether anything about their lease changes and where to pay rent. A new landlord introduction letter answers all three in writing. It reduces missed or misdirected payments in the first month and sets the tone for the relationship.
When to send it
Right after closing, ideally before the next rent due date. Many buyers and sellers send a joint letter, signed by both, so tenants know the change is genuine. If the property has a manager who is staying on, coordinate with them so tenants get one consistent message.
How to use the template
- Confirm the closing date and the first rent payment due to you.
- Confirm with the seller which rent has been paid and credited.
- Confirm where the security deposits are and how much each one is.
- Fill in the payment instructions and the contacts table.
- Send it to every tenant and ask for a reply with their contact details.
What to include
- The new owner’s name and the closing date.
- A plain statement that the lease continues on the same terms.
- The date from which rent goes to the new owner and how to pay.
- Security deposit details.
- Contacts for rent, repairs and emergencies, and the new notice address.
- A request to confirm occupants and contact details.
Tips
- Ask the seller for the rent roll and leases before closing and check each one against the deposits.
- Send a joint letter from seller and buyer where possible.
- Call out scams. Tenants are a target for fake payment change emails after a sale.
Common mistakes
- Unclear start date for paying the new owner, which leads to double or missed payments.
- Silence on deposits, which worries tenants and can break state notice rules.
- Changing lease terms on the spot. Changes wait for renewal.
Taking over a property in TenantLoop
In TenantLoop, tenants get their own portal to pay rent by card or bank transfer, so a new payment setup is one invitation away. Security deposits post to their own liability account from day one, and the rent roll lists the deposits held for each unit.
What is in the template
A letter from a new owner to tenants after a property changes hands: who the new landlord is, that existing leases continue, where to pay rent from which date, what happens to deposits and how to reach the new owner.
- Your lease continues
- Where to pay rent
- Your security deposit
- How to reach us
Read the whole new landlord introduction letter template
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General template, not legal advice. Have an attorney in your state review before use.
Before you send it.
Does a sale end the tenants' leases?
Generally no. A sale transfers the property subject to the existing leases, and the new owner must honor their terms. Foreclosure sales follow different rules.
What happens to the security deposits?
In many states the seller must transfer deposits to the buyer, or return them to tenants, and someone must notify tenants who now holds them. The new owner is often responsible for returning deposits at move-out even if the seller never handed them over.
Should tenants sign a new lease?
Not because of the sale. The existing lease continues. Ask tenants to confirm contact details and occupants instead.