Nooren Apartment Investments

Due Diligence Services

NOOREN APARTMENT due_400 INVESTMENTS will coordinate the due diligence process.  We work with one goal in mind: maximizing the value for our clients.

 
Inspection Checklist

• Physical inspection of units by client,            agent, or third party contractor
• Get detailed written report from third          party contractor
• Get estimates of repairs if applicable
• Get 5-yr history of capital improvements        made

 Financial Checklist

• Income and expense statements for the        past 3 years
• Current rent roll
• Lease documents
• Utility bills for last 12 months
• Property real estate tax bills
• We will provide you with a market rent survey of the local market for comparison
 
Legal Checklist

• Title report
• Check for building code violations and zoning
• Get insurance policy and claims filed and a new premium quote
• Get service and vendor contracts that must be assumed   for review
• Get copies of all surviving guarantees and warranties and oversee the proper transfer
• Get a signed copy of the FF&E (fixtures, furniture and equipment) included in the transaction
• Police reports – research the reputation of the property
• Check online apartment ratings for resident comments (www.apartmentratings.com)

Modeling Checklist

• Spreadsheet/model the income and expense
 

 

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