5. Ensure your lease is in a secure location, and has been checked for accuracy and signatures. Compile a list of key dates: commencement, expiration, rent increases, options to renew, options to purchase, rights of first refusal, etc.
4. Audit your operating expenses: If your assessed value exceeds the market value you may be able to appeal the property taxes and secure a reduction. Lessors should request a budget for the 2017 operating expenses from your owner or property management
3. Check your location’s fire sprinkler certification
2. Update your insurance coverages
And make sure that tenants provide you with a copy of their annually updated certificate of insurance.
1. Renew your maintenance contracts