[ ] PM and Building Engineer Interview Questions
[ ]
Building Condition & Maintenance:
[ ] 1.
What is the current condition of the building?
[ ] • Ask about any ongoing maintenance issues, major repairs, or improvements needed.
[ ] 2.
When was the last major renovation, and what was done?
[ ] • This will help you understand the building’s upkeep and whether there may be future capital expenses.
[ ] 3.
How is routine maintenance handled?
[ ] • Inquire about the frequency and responsibility of tasks such as HVAC service, landscaping, or snow removal.
[ ] 4.
Are there any upcoming major repairs or replacements?
[ ] • This could include HVAC systems, roofs, or elevators that are near the end of their useful life.
[ ]
Tenants & Leases:
[ ] 1.
What is the current occupancy rate?
[ ] • Get a sense of tenant turnover, demand for the building, and potential cash flow.
[ ] 2.
What are the terms of the existing leases?
[ ] • Review the leases for length, rent increases, and renewal options.
[ ] 3.
Have any tenants indicated they will not renew their lease?
[ ] • This helps in assessing future vacancy risks.
[ ] 4.
Are there any problem tenants or rent delinquencies?
[ ] • You need to know if any tenants are not paying rent or causing issues.
[ ] 5.
How are new tenants sourced and vetted?
[ ] • Understanding the tenant sourcing process helps gauge how the property might perform in the future.
[ ]
Financials & Operating Costs:
[ ] 1.
What are the operating costs of the building?
[ ] • Ask for a detailed breakdown of expenses, including utilities, maintenance, taxes, and insurance.
[ ] 2.
What is the historical rent roll for the past 3-5 years?
[ ] • This will give insight into the building’s financial stability and performance over time.
[ ] 3.
Are there any outstanding debts or liens on the property?
[ ] • Ensuring the property is financially sound is crucial before purchasing.
[ ] 4.
Is there a reserve fund for repairs or emergencies?
[ ] • Check if there’s a budget allocated for unexpected repairs or upgrades.
[ ]
Building Systems & Compliance:
[ ] 1.
When were the last inspections for systems like HVAC, plumbing, and electrical?
[ ] • This ensures that building systems are up to code and functioning properly.
[ ] 2.
Is the building compliant with local zoning, fire, and safety codes?
[ ] • You want to avoid buying a property that may face regulatory issues or fines.
[ ] 3.
Has the building had any environmental issues (e.g., asbestos, lead, mold)?
[ ] • Ensure there are no potential health hazards or expensive remediation costs.
[ ]
Property Management & Operations:
[ ] 1.
What does the property management contract include?
[ ] • Ask for details on what the property manager handles and what falls under your responsibility.
[ ] 2.
Are there any contracts in place for cleaning, security, or other services?
[ ] • Check if these services are reliable and cost-effective.
[ ] 3.
How are tenant complaints or issues handled?
[ ] • A good management company should have a clear process for addressing tenant concerns.
[ ]
Legal & Miscellaneous:
[ ] 1.
Are there any ongoing legal disputes or tenant issues?
[ ] • Litigation could affect your ownership experience and financial return.
[ ] 2.
What is the local market demand for this type of building?
[ ] • Ask about trends in rent prices, vacancy rates, and tenant types in the area.
[ ] 3.
Are there any known plans for development in the area?
[ ] • New developments could either increase competition or boost property values.
All County
Botique, no experience
10 listings a month, none commercial. Only Dyno Jiujitsu
In house maintenance, 65$
Software, rent manager, recon ag
[ ] Double check with city of san marcos on sewer work
Costar
17 as office, 3 year leases
Tenant disputes : go back to leases
Marketting canvassing
Fees proposal still waiting
Reports
P & L, Balance Sheets, Rent Roll, owner disbursement monthly
Leasing - tenant turnover
Partners
Experience and Background:
Management Services: