What questions should I ask when taking over a apartment complex?

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9 years 4 months ago - 9 years 4 months ago #15190 by Nicole
Hello everyone my name is Nicole and I will be taking over a property in about a week, my mind is blank and I am in dying need of you all help. I have been blessed to be able to work with the current property manager before she leaves, what questions should I ask her about the property, vendors and residents etc.? Thanks in advance.
9 years 4 months ago - 9 years 4 months ago #15190 by Nicole
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9 years 4 months ago #15191 by Sandy Martin
Personally, I would want to know:
1. Which tenants are the worst payers and when does their lease expire?
2. How long does it take corporate to pay invoices
3. Are there any pending legal situations
4. Are the work orders up to date?
5. Who are the top 5 biggest complainers
6. Are there any service animals onsite
7. Is there a no-smoking policy in place
8. I would want to see all addendums and the lease being used (how current are they)
9. Are there any hazards onsite (such as playground falling apart or broken sidewalks.
10 Percent Delinquency,occupancy
11. What day does pest control come?
12. Do you have a site plan and floor plans
13. Is there anyone the police are watching
14. When is pay day?
9 years 4 months ago #15191 by Sandy Martin
Anonymous
9 years 4 months ago #15193 by Anonymous
Sandy thank you so much for getting me started. I have a few questions already and now I can add more you are awesome. If anyone has anything else to add please feel free. Thank again Sandy.
9 years 4 months ago #15193 by Anonymous