Due Diligence Checklist
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A. PROPERTY INFORMATION
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NeedRec'dOKNotes
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1Property Operating Statement(P&L) for Last Full Year
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2Property Operating Statement(P&L) Trailing 12 by Month
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3Rent Roll (dated within 45 days of closing and reflecting concessions)
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4Real Estate Tax Bills (current or most recent)
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5Real Estate Tax - Assessed Value Analysis
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6Leases - Obtain copies
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7Leases - Laundry, landscaping and other services
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8Contact List(of employees to the property along with any concessions to staff)
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9Title Policy/Commitments
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10Physical inspection of each unit, common areas, utilities, exterior
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11Obtain quotes for large expense items, put together scope of work for all improvements
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12Market analysis(population growth, low unemployment rate, job growth, diverse businesses in market)
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13Competitor property analysis
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14Environmental(Phase 1); required by lender generally
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15Demographics study(median income analysis, tenant base occupation analysis; to ensure diverse, renters vs. home occupants)
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16Neighborhood study(crime, schools, any incoming new developments)
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17Pending litigation(any liens, judgements etc.)
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18Compliance with local codes/ADA
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19Zoning ordinances
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20Collections/tenant balances/deliquency reports
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See video on thorough explanation on items above(clickable link): Start video 10:35
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