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Self Storage – Due Diligence Submission List
1. 12 Month Trailing Income & Expense Statement – Please include occupancy broken down by month
2. 2022 and 2023 Income & Expense Statements – Please include occupancy broken down by month
3. 3 Year Proforma – Please include occupancy broken down by month
4. Current Detailed Lease Abstract – Current rent roll (or other evidence of leasing status) showing for each tenant the following:
- Tenant name
- Storage number
- Square footage of leased space
- Current monthly rental rates
- Expense payment provisions
- Stated options or fixed renewals
- Lease and occupancy commencement and expiration date
- Number of vacant units
- Break down of units
5. Borrower Information
- Please include a brief description of the borrower, principal, and property manager, including real estate experience
- Corporate and personal current Financial Statement(s)
- Personal Profile
6. Sources and Uses of Funds Statement
7. Brochure and Pictures of Property
8. Capital Expenditures – Detailed since purchase and future projections
9. Property Demographics
- Year built and last year renovated
- Breakdown of spaces, including net rentable square footage
- Total amount net rentable square footage
- Site Plan and Area Map
- Neighborhood Description
- Competition Analysis