Lease Audit: What to Look for During Real Estate Inspections via apartmentvestors.com

Mechanical inspections: check. Foundation inspection: check. Roof inspection: check. Lease audit: what?

The Lease Audit is listed right there on your property inspection checklist, but what is it, why do you need it, and where do you start?

The Lease Audit is an extremely important part of your due-diligence, but they are often overlooked during the property inspections. A lease audit is a physical inspection of the leases. A lease audit involves reviewing each lease to ensure that all appropriate steps have been taken and that they match the information is accurate. Most investors spend a great deal of time and effort inspecting the physical aspects of the properties, but only glance over the leases. This is a huge mistake.

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