Subject: Notice of Changes to Lease and Building Improvements

Dear Tenant,

We hope this message finds you well. As the new owners of the property at 914 W. 26th Avenue, we write to communicate some changes in the lease terms that are part of our commitment to continually improve the property and its operations.

Firstly, we would like to express our gratitude for your tenancy and your contributions in making our community a great place to live. We value your comfort and peace of mind and wish to reassure you that we will strive to maintain these as we initiate our management of the property.

Your current rental contract and rate is still in effect.  Once your annual rental contract ends, the monthly rent for all units will be increased to $1075. We understand that this change may cause concern, and we empathize with any anxiety it might bring. We wish to be as transparent as possible about the reasons for this increase. It is unfortunately a non-negotiable term that was required by the bank in order for us to secure the necessary financing to purchase and manage the building.

However, to help ease this transition, if your contract ends before August 30th, 2023, we are extending your current lease agreement by two months on a month to month basis at your current rate after the end of your annual rental contract, giving you extra time to adapt to the new rental cost or to seek alternative housing if necessary. We will also allow early termination of your current lease without additional fee, releasing you from the remaining months left on your lease should you choose to relocate before your rental contract ends. 

We will be implementing a new payment portal for your convenience at www.westwoodmanorak.com. This portal will allow you to create a new payment account and manage your rent payments easily. The site is not yet active, but will be fully functional by Thursday, May 25th.

Moreover, we are committed to making improvements to the property, which include:

Exterior paint and touch upRoofing repairExterior door code keypad entryExterior maintenance

Once the new rent is in effect for all units and all units are fully occupied, further upgrades will include:

Complimentary shared WiFi

No-charge laundry machines

We believe these improvements will significantly enhance the living conditions and value of your home.

If you need assistance in exploring other housing options, we recommend reaching out to Brooke McLaughlin, CCIM, Associate Broker of The Summit Group at either (D) 907.202.9505 or (M) 907.947.5039. As you were her previous tenant, she will prioritize your placement. There is also a refinished unit available down the street at 830 W. 26th for $975/month. Shary Ketchum, the owner, is a wonderful person to rent from. Her email is skapartments.anchorage@gmail.com.

Lastly, we wish to reassure you that we value each of our tenants, and we will do our utmost to make this transition as smooth as possible. We aim to personally discuss these changes with each of you. We understand the importance of feeling comfortable and secure in your own home, and we are committed to helping you during this transition.

We appreciate your understanding and cooperation in this matter, and we're more than happy to answer any questions you might have.

Best regards,

Ross Johnston

Westwood Manor LLC