auditing real TCO

[Johnny Tsao]

Hi what are some of the critical documents requested from sellers (post non-disclosure) to audit the real TCO vs offering memorandum?

I have the below... any else that are important raise red flags?

Certified Rent Roll: A detailed list of all tenants, their square footage, lease expiration dates, current rent, and security deposits.

Profit & Loss (P&L) Statements: Typically the last 3–5 years of operating history.

Tenant Leases & Estoppel Certificates: The actual lease agreements and signed statements from tenants confirming the lease terms are accurate and no defaults exist.

Utility Bills: The last 24 months of water, gas, and electric bills.

Service Contracts: Copies of agreements with elevator maintenance, landscaping, security, and janitorial firms.