Property Checklist
Rental property due diligence checklist
Documents and checks for rental property cash flow, cap rate, repair reserve, lease review, operating expenses, and investor risk.
Best for: Small rental investors, house hackers, owner-landlords, and buyers stress-testing a rental property before closing.
Use when: Use this before making an offer, during inspection, or whenever pro forma numbers look better than the evidence.
Plain English
What papers should I collect before this decision?
Use this to keep the quote, cost, document, and question list in one place before you sign or pay.
Start here: Check the boxes you already have, then use the missing boxes as your question list.
Income proof
Rental math fails when market rent, current rent, concessions, vacancy, and lease terms are treated as the same number.
Current leases and rent roll
CoreCollect rent amount, deposits, lease end dates, concessions, late fees, utility responsibility, and renewal terms.
Market rent evidence
Use comparable rentals, listing age, concessions, seasonality, and property condition before assuming an increase.
Vacancy and collection assumption
Stress-test vacancy and bad-debt separately from rent.
Operating expenses
Cash flow can disappear when taxes, insurance, repairs, capex, management, utilities, and HOA rules are understated.
Tax, insurance, and HOA bills
CoreCollect current bills and ask whether taxes or insurance will reset after purchase.
Repairs and capital items
List roof, HVAC, water heater, sewer, electrical, plumbing, appliances, windows, exterior, and safety items.
Management, turnover, and leasing costs
Include management fee, leasing fee, renewal fee, turnover work, cleaning, and vacancy carry.
Risk and exit
A rental can look profitable and still be a bad fit if reserves, leverage, rules, or exit value are fragile.
Cash reserve after close
Compare reserve against six months of debt service plus operating expenses.
A thin reserve can turn one vacancy or repair into a forced sale.
Loan terms and DSCR
Record rate, payment, escrow, prepayment penalty, adjustable terms, and debt-service coverage.
Local rules and association restrictions
Verify rental licensing, short-term rental rules, occupancy, parking, HOA rental caps, and inspection requirements.
Exit assumptions
Stress-test sale costs, repair needs, rent growth, cap rate, and holding period.
Before you act
- Run the rental investor planner with conservative vacancy, repair, capex, and management assumptions.
- Build a decision packet with evidence for rent, expenses, repairs, reserve, financing, and rules.
- Verify legal, tax, financing, insurance, and local rental requirements with qualified professionals.
Decision packet prompt
Build a packet with rent evidence, current leases, expense bills, repair list, reserve target, financing terms, local rules, and exit assumptions.
Open the decision packetUse this before requesting or accepting an estimate
A checklist is useful before monetization: collect the evidence first, then use it to run the calculator, compare the bid, build the packet, or request a cleaner estimate. Do not send private claim documents through Kefiw unless a page explicitly explains how that information is handled.
Checklist FAQ
Should I wait to use this checklist until the claim is open?
No. The checklist is useful before cleanup, before signing, before filing, before an adjuster visit, and before sale or rental documentation conversations.
Does this checklist decide coverage or contract terms?
No. It helps organize proof and questions. Verify policy, contract, safety, legal, and local-rule issues with qualified sources.
What should I do after completing it?
Run the related calculator, build the Property Decision Packet, compare the bid, or request an estimate only after the key proof and missing questions are visible.