i. Due diligence by trained and skilled multifamily management company with extensive experience.
- Property Profile: Including photos, floor plans, site plans, brochures, and marketing analysis.
- Residential Data: Lease audit, rent roll analysis, resident profile, and utility billing audit.
- Unit Inspections: Unit walks to include summary, detail and interior estimates for capital improvements.
- Construction Maintenance: Identify issues in parking, work order process, recurring maintenance problems, and recommendations for resolutions.
- Proposed Operating Budget: 1 year proposed budget, year to date, property payroll & staffing, 12 month concession breakdown, and gross potential rent.
- Operating Documents: Lease expiration, service contracts, all service orders, current staff schedule, purchase equipment list, property inventory, current lease/add, current leasing rents.
- Exterior Condition/Inspection: Construction, exterior, roof assessment, and life safety issues.
- Taxes/Insurance: Tax statement last 2 years, current yr appeal, 2 year loss run, and insurance certificates.
- Market Data: Market survey, map of comparables, shop comparables.
- Review/Analyze: Current Leases, lease management, address deferred maintenance, engage contract necessary work.