What about the tenants when you invest in a new building??

Tenants sometimes panic and flee before a building changes hands because they fear a rent hike may be in the offing. Still others weary of waiting for promised renovations, leave in disgust just when the new owner is counting on the tenants rent to help fatten his or her remodeling fund. The investor almost always bears the brunt of these vacancies, the out going seller, happy to get out from under his or her management duties, usually doesn't feel compelled to replace tenants who vacate shortly before the new owner takes over. Investors can sometimes encourage tenants to stay on until the property changes hands. A personal note to each tenant explaining your policies can alleviate tenant concerns. And pledges to attend to long delayed repairs or upgrades can placate tenants long enough to allow you to collect a few rent checks to help defray the cost of the promised improvements.