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INITIAL PROPERTY EVALUATION:
When requested by the owner, Advantage will prepare a brief written property evaluation consisting of the follwing:
- Physical property evaluation
- Manager(s) evaluation
- Site evaluation
- Neighborhood evaluation
- Evaluation of unit mix and rents
- Preliminary competitive market evaluation (competing facilities, location and rents)
- Income and expense analysis (information provided by owner)
- Competitive market survey
- Recommendations
INITIAL ANALYSIS:
Advantage will perform a detailed inspection and written evaluation of the property consisting of the following:
- Property Inspection. A detailed physical inspection with recommendation of repairs, maintenance, alterations or improvements.
- Complete Facility Audit. Including physical inventories, contract inventories, policies and procedures, management practices, marketing practices, administrative practices, computer and software systems, and financial and accounting review.
- Market Research Report. Including definition and analysis of market, demographic study, site analysis, competitive facility survey, evaluation of mix design and rents, and evaluation of storage demand and saturation level.
- Marketing Plan. Including written goals strategies.
- Economic Pro Forma. Including projected operating statement and five year operating pro forma.
- Evaluation and Recommendations.
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