Financial documents
A current rent roll (unit, tenant, rent, lease dates, deposits); a trailing 12-month income and expense statement (T-12); the last two years of operating statements or tax schedules if available; utility bills; property tax statements; and the current insurance policy and premium.
Leases and tenant files
Copies of current leases, any addenda, records of security deposits, and a list of tenants who are behind on rent. Buyers will usually compare the leases with the rent roll during due diligence.
Property records
Any survey, recent inspection reports, records of major repairs or replacements (roof, HVAC, plumbing, electrical), service contracts (laundry, trash, landscaping), and permits for work that has been done.
Ownership and debt
The deed or title information, the entity documents if the property is held in an LLC or partnership, and your current loan statement including any prepayment penalty. You don't need everything organized to start a conversation — a buyer can tell you what matters most for your property.
This guide is general information, not legal, tax or financial advice. Talk to your own advisors about your situation.
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