🏢 Property Risk Assessment Report

How quickly and effectively maintenance issues are resolved

Findings

• 41 open maintenance tickets — backlog indicates staffing or process issues
• 1 tickets older than 30 days — indicates deferred maintenance
• 16 CRITICAL safety/habitability tickets open: Copy of Gas stove top not working at 815 Montrose ; Kitchen faucet leaking at 815 Montrose Boulevard -; My living room ceiling is leaking again at 142 Oak; Kitchen. bad faucet install. Leaking 7 months at 1; Leaking at 815 Montrose Boulevard - 2

Recommendations

• Prioritize closing tickets older than 30 days. Deferred maintenance is the #1 driver of insurance claims.
• URGENT: Resolve water, mold, and HVAC issues within 48 hours. These are the highest-liability items for P&C claims.

Open water, leak, and mold tickets — #1 P&C claim driver

Findings

• 1 active MOLD report(s) — highest liability exposure for Texas multifamily
• 16 water/plumbing issue(s) — leading cause of mold and structural damage

Recommendations

• CRITICAL: Mold remediation must be documented and completed by licensed contractor. Texas has strict mold liability — unresolved mold claims average $30K-$150K.
• Implement 24-hour response SLA for all water-related tickets. Water damage accounts for ~30% of all commercial property insurance claims.

Tenant insurance coverage for subrogation and liability transfer

Findings

• 0% renters insurance compliance — 0 tenants have no coverage

Recommendations

• CRITICAL: Require renters insurance as lease condition. Properties with mandatory renters insurance see 15-25% lower liability claims and improved subrogation recovery for carriers.
• Buildium supports automated insurance tracking via MSI integration. Enable it to track compliance automatically.

Vacancy rates and tenant retention

Findings

• 22% vacancy rate — HIGH RISK. Vacant units degrade rapidly without active monitoring.
• 6 active rental application(s) in pipeline
• 12 vacant units not yet listed — lost revenue opportunity

Recommendations

• URGENT: Implement monthly vacant unit inspections. Consider listing on multiple platforms. Vacancy above 20% is a red flag for underwriters.
• List all 12 vacant units immediately. Each vacant unlisted unit costs ~$1,000/month in lost rent plus increases property risk.

Outstanding balance aging and eviction proceedings

Findings

• 30% delinquency rate (13 of 43 tenants) — very high
• 5 tenant(s) owe >$1,000 (total: $7,235)
• Total portfolio outstanding: $9,989.98

Recommendations

• Implement automated payment reminders at 3, 7, and 14 days past due. Properties with automated collection workflows reduce bad debt by 30-40%.

Texas Property Code §92 compliance — safety and livability

Findings

• HOT WATER: 2 open issue(s) — No hot water at 815 Montrose Boulevard -; No Hot water at 815 Montrose Boulevard -
• HVAC: 1 open issue(s) — AC doesn't work at 2750 Westheimer Road
• PLUMBING: 2 open issue(s) — Toilet seat at 2750 Westheimer Road - 37; Toilet seat loose at 2750 Westheimer Roa
• ELECTRICAL: 1 open issue(s) — Another outlet out - refrigerator not wo
• STRUCTURAL: 5 open issue(s) — My living room ceiling is leaking again ; Finish fixing my ceiling at 142 Oak Ridg; Ceiling is leaking at 142 Oak Ridge Lane
• SECURITY: 1 open issue(s) — Front Door lock at 142 Oak Ridge Lane -
• PEST: 7 open issue(s) — Another outlet out - refrigerator not wo; Refrigerator magnet doesn't function can; Cockroach infestation at 142 Oak Ridge L

Recommendations

• Texas Property Code §92.052 requires landlords to make diligent efforts to repair conditions affecting health/safety. 19 open habitability issues need priority attention.
• Pest issues (roaches, rodents) are habitability violations under Texas law and can lead to lease termination claims and health dept complaints.
• URGENT: No hot water and no AC are emergency habitability items in Texas. Failure to repair within reasonable time can result in tenant remedies including rent withholding.

Income, expenses, and NOI from Buildium accounting

Findings

• Income Statement data available from Buildium — P&L tracking active
• Property Statement data available — per-property financials tracked
• Accounts Receivable Summary available — collection performance tracked