# Multifamily Deal Room Checklist Template (Markdown)

Free Multifamily Deal Room Checklist structure from IntellCRE (intellcre.com/models/multifamily-deal-room-checklist/). Anything in [square brackets] is a placeholder to replace with your own facts. Nothing here is real property data.

How to use: paste this into Claude, ChatGPT, Gemini or any assistant together with your deal facts, or fill it in by hand and paste it into your own document.

Skip the typing: IntellCRE builds this from your deal documents. Try it, free to start: https://app.intellcre.com/register

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## 1. Title and legal

- **Title commitment and exception documents:** Shows liens, easements and encumbrances
- **ALTA/NSPS land title survey:** Confirms boundaries, access and encroachments
- **Entity documents and authority to sell:** Confirms who can sign
- **Pending or threatened litigation summary:** Surfaces legal exposure

## 2. Financial

- **Operating statements, last 3 years and year to date:** Basis for income and expense underwriting
- **Current-year budget:** Shows the seller's expectations
- **Capital expenditure history, last 5 years:** Shows what has been replaced
- **Bank statements supporting reported income, for the last 12 months:** Verifies collections

## 3. Tax

- **Property tax bills, last 3 years, and any pending reassessment or appeal:** Tax is a major expense and can reset on sale

## 4. Insurance

- **Insurance policies and 5-year loss runs:** Shows claims history and coverage

## 5. Contracts

- **Service, vendor and management contracts with termination terms:** Identifies what a buyer assumes or must end
- **Warranties and equipment leases:** Transferability and cost

## 6. Physical

- **Property condition report, roof, structural and mechanical reports:** Sizes deferred maintenance
- **Certificates of occupancy and building permits:** Confirms legal use and open permits

## 7. Environmental

- **Phase I environmental site assessment:** Standard lender and buyer requirement

## 8. Compliance

- **Zoning verification and open code violations:** Confirms the legal use
- **ADA compliance reports:** Identifies required upgrades

## 9. Property data

- **Photos, site plan, floor plans and plan drawings:** Needed for marketing and underwriting

## 10. Operations (multifamily)

- **Rent roll with lease start and end dates:** Verifies in-place income and loss-to-lease
- **Trailing 12-month operating statement and 24 months of monthly detail:** Shows trend and seasonality
- **Resident ledger and delinquency report:** Tests collections and credit loss
- **Utility bills and RUBS billing history:** Confirms recovery and expense basis

## 11. Physical (multifamily)

- **Unit turn and renovation records:** Supports the value-add budget
- **Property condition report and roof, HVAC and plumbing history:** Sizes deferred maintenance

## 12. Compliance (multifamily)

- **Fair housing complaints, notices of violation and code citations:** Surfaces legal exposure
- **Rent control or affordability restrictions and regulatory agreements:** Limits rent growth and exit

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## Drafting rules

- Never mark an item received unless the user said so.
- Group missing items by category and say why each matters in one line.
- Add property-specific items the user mentions; do not drop standard items.
- End by reminding the user to have counsel review the list and every legal document; this is not legal advice.
- Write in plain US English.
- Watch for: mixing in-place and proforma rents in one column.
- Watch for: showing a renovation premium without cost and timing.
- Watch for: using language that describes or prefers a type of resident (fair housing).
- Watch for: leaving utility recovery (rubs) unexplained.