Before closing: demand the data room
- Every lease, renewal, and addendum — matched against the rent roll, unit by unit.
- The rent roll itself, dated, with move-in dates, deposits held, and balances.
- Deposit accounting: exactly which deposits transfer, and the ledger behind each.
- Delinquency and payment-plan records.
- Vendor contracts that survive closing (laundry, cable, landscaping, waste).
- Open work orders, recent inspections, and code-violation history.
- Insurance loss runs for the property.
- Utility accounts and who pays what.
Red flags in the data room
- Units on the rent roll with no lease behind them.
- Deposits listed with no ledger showing where the money sits.
- A gap between claimed rents and the bank deposits that should show them.
- "The prior manager has those" — name the manager, get the commitment in writing.
In the full guide (4 more sections)
- 🔒 Day of transfer
- 🔒 First 30 days
- 🔒 Days 30–90
- 🔒 When to bring in PRC
The complete edition — every section, updated as it improves — is in the Records Readiness Library.
Educational content, not legal/tax/medical advice — Service Boundaries.