Property-manager selection
Evaluate the operating team against the actual asset and business plan.
Use this as a working agenda. Confirm transaction-specific requirements with your advisers. Checkmarks are temporary and reset when the page reloads.
Specify asset type, leasing responsibilities, accounting, collections, maintenance and capital-project oversight.
Ask for examples of comparable assets and business plans, not only total square footage managed.
Identify the accountable manager, backup coverage, on-site needs and escalation route.
Compare base fees, leasing commissions, construction fees, minimums, markups and related-party arrangements.
Review rent rolls, receivables, budget variances, cash reconciliations, bank controls and owner reporting.
Ask how options, insurance certificates, escalations, recoveries and notice dates are tracked.
Evaluate vendor bidding, authorization thresholds, conflicts, warranties and documentation.
Verify applicable requirements and coverage with appropriate advisers.
Ask about responsiveness, problem resolution, accuracy and the manager’s performance during difficult periods.
Assign bank access, tenant communication, deposits, records, contracts, keys and emergency coverage.
Ask who receives funds, authorizes payments, reconciles accounts and reviews exceptions. Establish owner access, vendor-change verification and appropriate separation of duties.
Have counsel evaluate authority, indemnities, contract term, termination costs and the return of money, data, credentials, deposits and records. Plan an orderly replacement before signing.
An original editorial checklist. It is not a legal form, lender requirement list or substitute for a property-specific investigation.
Research context
These sources inform the underlying investment questions. The checklist is an original working agenda; the sources do not impose every listed step on every transaction.