Due Diligence

Whether our clients are buying communities or evaluating the prudence and feasibility of a receivership action, 707 Property Management, LLC is there to provide detailed due diligence on every financial and operational aspect of a community. The Due Diligence process typically includes:

Financial Review

  • Audit tenant files for accuracy and completeness
  • Audit Rent Roll for accuracy and concessions
  • Audit Security Deposit Liability
  • Review prior period income and expenses
  • Review prior period costs for utilities, taxes and insurance

Physical Review:

  • Perform detailed inspection of each residential unit
  • Perform review and analysis of ADA Compliance
  • Perform review and analysis of health and safety issues
  • Perform review and analysis of compliance with local building and environmental regulations
  • Perform detailed inspection of building exteriors, parking, landscaping and common areas and amenities
  • Perform inspection of major mechanical systems and evaluate alternatives for repair or replacement

Operations Review:

  • Perform review and analysis of prior period service requests
  • Perform analysis of prior period repairs and maintenance costs
  • Solicit quotes and bides for deferred maintenance and proposed community enhancements and renovation
  • Perform staffing needs analysis and make recommendations for future staffing needs
  • Evaluate cost saving opportunities through contract negotiations or investment in more efficient systems
  • Perform detailed analysis of traffic, capture rate and renewals
  • Perform analysis and review of prior marketing campaign costs and evaluate the efficiency and efficacy of existing marketing initiatives
  • Conduct in-depth market survey of competitive and proximate communities
  • Review and analyze pricing and concessions and prepare amenity adjustment grid for competing properties


  • Prepare immediate needs budget for deferred maintenance, health and safety concerns, compliance issues and marketing campaign
  • Prepare Year One Operating Budget and recommendations
  • Develop detailed three year operating and capital plan, with return on investment analysis