Shafiq Hirani shows how to audit a multifamily or commercial property for NOI leaks in 20 minutes using a five-point checklist: revenue capture, utilities, vendors, turns and maintenance, and systems. Flag water bills spiking 15% over three months, rebid your top five vendor contracts, and standardize turn times to find your biggest dollar drains.
Everything we have covered in videos 1 through 5 comes down to one question: where is your NOI leaking right now? Today I am going to walk you through the exact audit I run on every building I review. It takes about 20 minutes. You do not need a spreadsheet. You do not need an advisor. You need a checklist and an honest look at 5 areas. Area 1: Revenue Capture. Are all fees and reimbursements being billed every month Without exception. Are lease renewals being initiated 90 to 120 days before expiration? Is your delinquency policy being followed consistently? Area 2: Utilities. Pull the last 12 months of water and sewer bills. Is there a spike that started and never reversed? If your bill went up more than 15% over 3 consecutive months, investigate before anything else. Area 3: Vendors. When were your top 5 vendor contracts last competitively rebid? Do any of those contracts have auto-renewal clauses or recurring add-on charges you have not reviewed? Turns and maintenance. What is your average turn time from move-out to move-in ready? Do you have a written standardized make-ready scope, or does every vacancy become a custom project? Systems. Do you receive a monthly package that includes a rent roll, A P&L, variance notes, and a forward action plan? If not, you are managing blind. What to do with what you find? When you finish the audit, you will have a list of issues. Do not try to fix everything at once. Pick the 2 or 3 areas with the biggest annual dollar impact. Those become your 90-day focus. We cover that in video 7. First, watch video 7. It turns your audit findings into a 90-day action plan. Second, download the NOI Leak Audit Checklist. Scan the QR code or click the link. Third, want to run this audit on your building together? Book the free 15-minute diagnostic below.
