We make the process of purchasing and disposition transparent and simple. We have found that when physical or financial issues come to light after a purchase, they require additional capital or resources that were not otherwise anticipated. Owners find themselves in these situations because they have not conducted the necessary due diligence. Our team of property management experts, general contractors, maintenance specialists, and financial auditors conduct a thorough review of an asset's finances and the state of the property before you make your investment.
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What encompasses WGPM’s Due Diligence Process?
WGPM facilitates a team of professionals including a roofer, mechanical expert, electrician, and senior maintenance technicians led by the designated regional manager to perform onsite due diligence including an overview of foundation, roof, mechanical and review of interior condition for each unit. All health and safety as well as remaining useful life is assessed for the primary building components. The regional manager and her team also conduct a financial audit of income, expenses, lease and resident audit. Most purchasers also opt for a cost benefit analysis which includes a fully physically verified rental comparable study, as well as a capital expenditure budget and operating budget for the estimated duration of ownership to optimize property performance.
Condition
Inspect current condition of property by evaluating foundation, roofing, liability, mechanical, and full unit inspections.
Foundation
A specialist will determine the integrity of the foundation as well as determine inventory, repair, and replacement cost analysis.
Regulations
Our specialist will determine that all properties are compliant with all local, state, and federal law. Ensure all licensure is obtained and in date.
Liability
WGPM will evaluate the owner's insurance and flood insurance to determine acurate costs.
Audits
Conduct a full lease file audit which identifies length of residency, age of residents, place of employment, and identifies any lease file exceptions.
Consulting
Thoroughly review and make recommendations regarding contracts, staffing, service requests, marketing sources, and overall property operations.
