PROPERTY SITE INSPECTION

Information gathered during an on-site inspection can be extremely valuable, but we have found that it is rarely used to its full potential. Before we step foot on a property, we spend time with the client to determine their informational needs. Once these needs are determined, Flatrock creates customized forms which are used to gather property-level data at the time of inspection.

Flatrock's site inspection process will culminate in a comprehensive report, which outlines all aspects of the property visit, specifically identifying any deficiencies which were noted. Flatrock's goal is to provide this information in the most usable format, and we specialize in the ability to customize report delivery: conventional paper, electronic (either via email or through download from our website), or in a digitally customized format to allow the information to be integrated into an existing client database.

Our standard process is comprised of four major components:

• Physical Examination - Flatrock will inspect all exterior and interior common areas of the property, all vacant units and a random sample of occupied units. Information gathered will include the "rent-ready" status of all vacant units, and an evaluation of the property's adherence to periodic inspection standards for occupied units.
• Market Review - Flatrock will research local market conditions and neighborhood trends in an effort to make reliable recommendations regarding rental rate increases, changes in marketing strategy, among other pertinent observations. Discussions with regional-level and/or on-site staff, review of available market surveys, and an evaluation of local comparable properties will be conducted.
• Management Analysis - Flatrock will evaluate the overall management and administration of the property, including adherence to fair housing standards, established resident selection criteria and property rules and regulations.
• Tenant File Review - Flatrock will review a random sample of current resident files to ensure continuing program compliance with the Low Income Housing Tax Credit program, the HOME program, Rural Development, HUD and/or various State-specific affordability programs.