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If You Are a Multifamily Building Investor

When purchasing a multifamily property, you must earmark separate funds and time for a due diligence project. Professionals at residential due diligence management company use a specialized multi family due diligence checklist based on their past experiences to ensure value for money for their client. The post discusses a multi family due diligence checklist, to explain the process and help potential investors understand the elements they must focus on when buying a multifamily property. Take a look. 1. Inspections to Detect Environmental Hazards Environmental hazards lying around the property can be a substantial health risk to occupants and may also invite harsh penalties and troublesome litigations. To help their clients avoid this problem, providers perform a detailed environmental inspection that includes locating and reporting asbestos containing material, lead based paints, and PCB containing materials. The provider must also go through the property’s layout plan to locate underground fuel storage tanks, waste disposal units and dump sites, inspect them and include recommendations in their final report to minimize contamination risks. 2. Inspections Centered on Inspecting the Exteriors   It is important for the provider to inspect the building’s exteriors to ensure the layout conforms with the building codes. The professional must look

June 27, 2017

If You Are a Multifamily Building Investor

When purchasing a multifamily property, you must earmark separate funds and time for a due diligence project. Professionals at residential due diligence management company use a specialized multi family due diligence checklist based on their past experiences to ensure value for money for their client. The post discusses a multi family due diligence checklist, to explain the process and help potential investors understand the elements they must focus on when buying a multifamily property. Take a look. 1. Inspections to Detect Environmental Hazards Environmental hazards lying around the property can be a substantial health risk to occupants and may also invite harsh penalties and troublesome litigations. To help their clients avoid this problem, providers perform a detailed environmental inspection that includes locating and reporting asbestos containing material, lead based paints, and PCB containing materials. The provider must also go through the property’s layout plan to locate underground fuel storage tanks, waste disposal units and dump sites, inspect them and include recommendations in their final report to minimize contamination risks. 2. Inspections Centered on Inspecting the Exteriors   It is important for the provider to inspect the building’s exteriors to ensure the layout conforms with the building codes. The professional must look

May 12, 2017

Credit education efforts taking hold at apartment communities

[etm_menu width=”0″ aligment=”aligncenter” display=”0″ flag=”0″ layout=”3″ ]Source: Multifamily Insider Credit education efforts taking hold at apartment communities ~ There’s no sugarcoating it: Obtaining credit with a low credit score or an insufficient credit history can be tough. A low score can hamstring people’s ability to obtain a mortgage, car loan or credit card — and subject them to higher interest rates and large security deposits for utility services and rental homes. But a low credit score doesn’t have to last forever. Financial education has proven to be a powerful boon to people’s credit history. Across the nation, apartment communities — especially those in the affordable housing sector — are providing financial literacy programs to give their residents a brighter future.  Communities offering these programs have found that simply offering classes is often not enough to persuade residents to participate. It’s only when the communities give residents the option to have their rental payment history reported to credit bureaus that interest in the financial literacy programs usually takes off. For example, officials with the New Hampshire-based Affordable Housing, Education and Development Inc. (AHEAD), which owns and manages more than 400 affordable housing units, report that resident participation in the organization’s financial

March 10, 2017

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