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Updated almost 3 years ago on . Most recent reply

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7
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Niteesh Singh
  • Hamilton, Ontario
1
Votes |
7
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What to ask from Sellers property manager before closing ?

Niteesh Singh
  • Hamilton, Ontario
Posted

Hey guys, this is my first post, closing on my first small multi a 4plex later this month in Regina, canada. 
what are the most important things to ask the existing sellers property manager before closing, apart from the regular lease agreements, utility cap and deposits ? All units are tenanted out and I’m assuming the tenants. 

Most Popular Reply

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76
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56
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Brandon P.
  • Investor
  • Regina, SK
56
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76
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Brandon P.
  • Investor
  • Regina, SK
Replied

It wouldn’t hurt to ask for the monthly reports or accounting information that the PM provides to the owner. 

This would give you insight into the additional building costs and potential recent issues in the building, for example, pest control, tenants paying rent late or in arrears.

Good luck with your purchase!

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