Tapia Property Solutions’ Due Diligence service provides expert comprehensive due diligence services to our clients, including exterior, common area and interior unit inspections; lease audits; financial audits; and coordination of all third-party environmental, engineering and other consultants.

Some of the highlights from Tapia Property Solutions’ Due Diligence service include:

Fact Finding – conducting comprehensive interviews with existing on-site staff about ongoing or known issues and review of maintenance history through reviewing available service and work order records for the past 12 months

Physical Inspection – Inspecting building exteriors and common areas using professionals from qualified vendors and staff

Violations – Contacting local fire marshal and building department code enforcement and compilation any outstanding building, housing or life safety code violations

Specialty Consultants – Engaging, coordinating, and managing the activities of outside specialty consultants

Detailed Unit Inspection – Physical inspection of all units with detailed notes on condition and exceptions

Lease File Audit – Auditing 100% of leases and reconciling to the rent-roll and any electronic records in place; for rent-controlled buildings, a full review of Annual Allowable Rent Increases based on availability of rent increase notices on record

Proforma Budget – preparing a detailed year-one operating budget, based on comparable properties and the specific property inspection findings of Tapia Property Solutions’ Operations Team; preparing comprehensive budget estimates for each identified condition, including immediate needs, short-, medium-, and long-term capital, and scheduled maintenance expenditures.

Market Survey – performing a detailed market survey of all properties in the competitive set

Comprehensive Due Diligence Report – preparing a complete report, including all sub-reports and findings, in both an electronic and printed format (where requested)