This service is designed for investors or buyers as an evaluation tool used during the due diligence or pre due diligence period. It is intended to provide a more thorough assessment of the investment before purchase.
- A general property overview; curb appeal, cleanliness, general condition.
- Provide an evaluation of the appearance of the office, rest rooms, and employees.
- Provide an evaluation of staff and staffing requirements.
- Perform a complete physical unit inventory (walk-through), report discrepancies. Verify vacant units are clean and ready to rent, review company units, inspect offline, un-rentable and complimentary units.
- Audit a sample 20% of leases and compare them to the computer. Check that rental agreements and file documents are compete and correct with proper signatures, verify to computer. Look for potential rental agreement problems.
- Review fee waives, discounts and concessions, Review rent variations, exceptions and reversals.
- Review cash handling, manual processing methods and banking procedures.
- Review accounts receivables & delinquent tenant management practices.
- Verify merchandise inventory.
- Provide an overview of operational efficiency.
- Identify potential deferred maintenance/ security issues/technology opportunities.
- Analyze street rates as compared to closest 3-4 competitors.
- Unit Mix Review- Conversion Opportunities.
- Marketing Review- yellow pages, internet, other marketing programs in place.
- Identify additional income opportunities such as merchandise sales, insurance, trucks, business services, etc.
Acquisition Due Diligence
Management & Consulting for the Self Storage Industry