• [ ] Leases expiring at less than 20%/year
• [ ] Broker Questions
  • [ ] How long in business
  • [ ] Asset Specialization
  • [ ] Number of properties handled and handling in area
  • [ ] Which of these are considered competition
  • [ ] How do they plan marketing
  • [ ] How much time do they spend on it
• [ ] Exclusive right to lease duration is no more than 6 months at a time, right to cancel with 2 weeks notice after 60 days
  • [ ] Report minimum every 2 weeks
• [ ] Property Manager Questions
  • [ ] How long in business
  • [ ] Where are they located in relation to the property
  • [ ] Asset Specialization
  • [ ] How do they handle competition
  • [ ] What other properties do they manage
  • [ ] Experience in the asset class
  • [ ] Who is the day to day manager
• [ ] 30 day cancellation provision after 6 months
• [ ] 30 day notice to cancel after 90 days
• [ ] Drive properties for brokers

Leasing Objectives

• Clear the unit of trash and cleaning before showing
• If the floor or carpet is dirty, tear it out and just leave cement
• If odd sized space, demolish into open space since easier to show
• Leases should be staggered
• Lease out in the shortest amount of time at the best terms you can get

Finding Qualified People

• Better to get an experienced lawyer, ask if they’re willing to cap charges
• Walkthrough prospective properties with the PM
• Drive comps with similar signs to find brokers