The Report
Know what your building is worth and what to do next.
We review your rents, operating costs, loan, and local market. Then we write up your options, with the cost and return of each one.
Built for apartment owners. Run an HOA? We do a different review. Ask us.
- Price
- Starts at $2,000
- Timing
- Two to three weeks
- Includes
- A site visit and a one-hour review call
- Commissions
- None. You pay us for the report.
Who it's for
Owners who want a straight answer.
- Apartment owners, from one building to a portfolio. Any size.
- Partners and families who own a building together. Especially when someone wants out.
- Owners facing a decision. A loan coming due, a big repair, a sale, or a handoff to the next generation.
What you get
A written report, in plain English.
- Value and income today. What the building is worth and what it earns.
- The condition of the building. What we saw on the site visit, with photos, and what each repair should cost.
- Your options. Every realistic choice, side by side.
- Cost and return. What each option costs, what it adds, and how long it takes to pay back.
- What we'd do. Our recommendation, in order, with first steps. Sometimes the answer is "change nothing." We'll say so.
What we usually find
Where buildings lose money.
A few hundred dollars a month adds up over ten years.
Rents below market
Long-term tenants whose rents fell behind. Nobody wants to be the bad guy.
Costs the owner carries
Water and trash the owner pays. Insurance nobody shopped. A tax bill nobody appealed.
Deferred repairs
Every year you wait, the job gets bigger and costs more.
What the Report covers
Questions we answer.
Every building is different, and so is every report. These are the questions owners ask most. Your report covers the ones that apply to your building.
Value
What the building is worth today
We estimate a value range for the building as it is today. Then we estimate it with market rents and the repairs done. The gap shows whether to sell or keep it.
Rents
What you can legally charge
We check which rent rules apply: the city's rent stabilization ordinance (RSO), the state law AB 1482, or a local law. Then we show how much you can raise each unit, and when.
Operating costs
What the building costs to run
We go through your expenses line by line and compare them to similar buildings. Insurance, utilities, and property tax are the usual problems.
Loan
Refinance options
We compare current loan terms and show what each one does to your cash flow. We flag due dates and prepayment penalties.
Repairs
Which repairs pay back
We list the work the building needs. We estimate the cost and the new rents, and rank each project by payback.
More units
Adding units
We check if zoning, code, and the numbers allow an ADU (an added unit) or a new building, and what it costs to build.
Partners & family
Partner and family buyouts
When owners split, we help set a fair price and terms. We also flag property tax reassessment risk.
1031 exchange
Trading into another property
We show what a 1031 exchange does to your taxes, your income, and your workload.
Long term
Estate and succession planning
We work with your attorney and CPA so the building fits your plans, including passing it to your children.
The Report is a flat-fee advisory review based on information you give us and on public data. It is not an appraisal, and it is not legal, tax, or investment advice. We do not broker sales. Bring your attorney and CPA in on legal and tax decisions.
What we need from you
Three documents and one hour.
- Your rent roll. Each unit, its rent, and when the tenant moved in.
- Last year's income and expenses. A tax return schedule or your manager's statement works.
- Your loan statement. If you have a loan.
- One hour at the building. We walk it with you or your manager.
How it works
Three steps.
You send the documents
We sign an engagement letter and set the site visit.
We walk the building and run the numbers
Two to three weeks.
We review the Report with you
One hour, by phone or in person. Bring your partners, your manager, or your kids.
After the Report
The Report is yours.
Act on it yourself, hand it to your property manager, or hire us to manage the work. We don't sell buildings and we don't manage them. We earn nothing from which option you pick.
Not ready for a full report?
Start with the free Building Snapshot. Two pages within 48 hours.