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Updated over 4 years ago,
How to verify rentroll in multi-family property due diligence ?
Hi Fellow Investors,
I am in contract with 30 unit apartment complex. Sellers, 3 months ago moved over Property from 3rd party Property Management company to his in-house property management company.
Questions:
1. How do I verify if the rents claimed in rentroll are accurate and not delinquent or incorrect besides looking at leases.
2. Can their be another catch or mis-representation seller trying to do by moving over property into in-house property management ?
Will highly appreciate your guidance or response on this
Thanks, Gary