Completing the Due Diligence process is a vital part of acquiring an asset. TPCO has a skilled and well seasoned due diligence team that is able to not only complete this process quickly, but also thoroughly and efficiently. The processes and services completed with every TPCO executed due diligence provide an in-depth and accurate snapshot of the overall condition of the subject property. At the end of the process, a full report is executed and presented.
Processes and Services Include:
- Thorough Unit Inspections – assessing the condition of all units and any applicable furniture, appliances, and fixtures. TPCO’s Due Diligence team ranks all aspects of the unit using a grading system, which allows for a more in-depth average and analysis of overall unit conditions.
- Property Inspections – building foundations, construction quality, and maintenance are assessed and inspected for any major flaws, code compliance and potential hazards. All common areas (including the leasing office) and property amenities are also inspected and graded through this process.
- Lease and File Audit – all leases and other applicable documents are thoroughly checked for accuracy and are compared with the property’s current rent roll in order to ensure that accurate reporting has been provided prior to the Due Diligence.
- Service Contract Review – all service contracts with any outside vendors are reviewed for cost analysis, legitimacy, and need.
- Financial Performance and Accounting Review – High level review of the property’s financial statements including assessing performance against budget, reviewing historical and projected income statements and performing a balance sheet review.
- Staffing Review – an overall assessment of the property’s staff, including core performance and salaries are presented.
- Marketing Review – the property’s marketing efforts and campaigns are reviewed and compared to the site’s leasing (both backfill and pre-lease) performance.
- Capital Expenditure Analysis and Recommendations – at the conclusion of the Due Diligence process, TPCO will make recommendations regarding how to best allocate Capital funds for additional amenities, property improvements and repairs (if applicable)