Current rents: you can glean this information through online sources as well as old-school searching (walk-ins, calling the buildings)Talk to local brokers to get the inside scoopMarket analysisCheck to see if building is in a flood plainYou can ask for, but these items are usually provided after signing a contract: Leases for lease auditing against bank statements, tax returns and leases (usually not provided before a contract has been signed).Tenant payment historyViolations, delinquenciesLease addendum and/or other agreementsTax ReturnsBank StatementsUtility billsCan RUBS be implemented (some municipalities may not allow it)Service contractsReserve fundsEnvironmental assessmentEmployee recordsStructural issues including foundationEmployee historyOther value-add features that can be added include:Trash valetCar portsStorageDog parksTo be honest, a similar level of due diligence is required across multifamily and manufactured housing (mobile home parks).Best of luck!

Am generally not a fan of inheriting tenants and if I do, I prefer that my lease be implemented, but clearl y that is not always realistic.Thank you though for this suggestion and I am going to try to see if working it from your suggested angle will work here in Colorado.In the end, I want to set up a lease that does not have holes, that an attorney, God forbid we ever have to evict (though these tenants do not seem like the type to cause any issues and I generally am a good landlord and stay away as long as you are following policy, so thus having a detailed lease that covers most all and then just backing off.My inspections are generally once a year, outside of the move-in, move out.I also stay very engaged in the running of my property, thus self-managing as in the end, I strive to provide a place I would enjoy living and I actually live on one of my properties.Long story short, don’t care for the very vague lease that the current property management company has running.Additionally I have little confidence in the way they were managing the property.The property has so much potential but has clear signs of neglect and I intend to change that as I never simply abandon my properties.On the question of current lease, I have combed through it repeatedly and do not see any mention of what happens at lease expiration only what happens when tenants are seeking to terminate their lease, “30-day written notice required”.No stipulation on what is required of landlord at end of lease and/or automatic renewal, both items that I cover in my lease and another reason, why am not a big fan of the existing lease.Leaves out a lot.I prefer having systems in place where there is little chance of misunderstanding, so thus the nerves on this one, but I will get through, thanks to you all for all your great advice!

In the future once above is in place correctly will start a market plan for PPC w a budget of 5000 per month Once All the above implemented will look at other marketing mediums My point is do one thing well then add to your plan as you see success to your marketing plan increasing your methods of finding leads Good luck

If tenants decide to provide any new information (not previously disclosed) after lease signing, Agent shall have the option to carefully consider this additional information and either decide to terminate this Lease upon three days notice to quit if the additional information has the potential of unfavorably impacting the previously signed mutually benefiting lease agreement, or Agent can decide to make adjustments accordingly including but not limited to any additional screenings as needed, rent/security deposit/utility fee or any other applicable fee raises, pet fee implementations as applicable, request for emotional support documentation for new pets and request for completion of a pet addendum to modify existing lease.Unless otherwise communicated, Tenants are required to resubmit application for any Rental Lease Renewals.Tenants shall promptly notify Agent in writing of any subsequent change in the information provided by Tenants on Tenant’s lease application.

If not yet implemented - it’d be nice to have them added.

We will certainly implement your advice.

Another option to value the property is to project the NOI  at increased rental rates, but use a higher Cap Rate to discount the fact that you'll need to implement these changes.

We are also sponsoring an event in March to address what changes or adjustments to our financial/business plans should be implemented.

Your local health department may have information to help you implement a no-smoking policy.

Consistency & Persistency - My first transformation came when I studied the habits of successful people and began to implement them into my own life.