Rent Roll does not match the leases

[Kyle Mitchell]

Hi everyone,

I am currently doing due diligence on a MF property and have come across several leases that do not match the rent roll.  All of the leases that do not match are all on month to month at this point.  The seller is not providing me with any other information other than telling me they pay more than the lease states and its what's on the rent roll.  This is a smaller property so every dollar counts and 10 of the 42 do not match.  Does anyone have experience or advice for me on this?  Is this typical or should I being going back to the seller and asking for a retrade? (which is never my intent).  The difference in valuation is about 6% of the purchase price or $95k. 

Thanks,

Kyle

[Bjorn Ahlblad]

@Kyle Mitchell I think this is an opportunity to get Estoppel Certificates for each tenant. The certificates will also tell you about security deposits and last months rent paid or not. Money that would be owed to you at closing. All the best!