About to Manage 40 Unit Apartment Building, Need Advice
Hey,
Within the next couple of weeks, I will begin managing a 40 unit apartment building. I am meeting with the current owner/property manager within the week.
I am wanting to be the most informed possible before beginning the job (I currently manage 15 units, and am wanting to be ready for the jump to 40 more). The buyer (not me) has already done his due diligence, secured financing, etc.
My job is to manage the property. I am making a list of questions to ask the current owner/property manager. Some of my questions involve lease terms, delinquent and problem tenants, security issues, repairman info/rates, relations with neighboring businesses, etc.
I'd appreciate any advice on good questions to ask the current property manager before he leaves. Does anyone have any good tips/insight on smart questions to ask the current property manager regarding an apartment building of this size?