Internal Broker Checklist

Instructions:

This checklist is designed to ensure the thorough assessment of your real estate company's internal processes and compliance. Please go through each item and mark 'Yes' or 'No' accordingly.

For any item marked 'No', provide comments or explanations to specify the areas of concern.

Financial Management and Reporting

Financial Statements: Are financial statements regularly prepared, accurate, and in compliance with accounting standards?

• Yes

• No

Budget Management: Is there a budget in place, and is it followed consistently?

• Yes

• No

Cash Flow Monitoring: Is there a robust system for monitoring cash flows and managing liquidity?

• Yes

• No

Tax Compliance: Are all tax obligations met, including property taxes and income taxes?

• Yes

• No

Compliance and Legal Matters

Licensing and Permits: Are all required licenses and permits up-to-date?

• Yes

• No

Contract Management: Is there a process for reviewing, renewing, and ensuring compliance with contracts?

• Yes

• No

Data Privacy: Is sensitive customer data handled in compliance with privacy regulations?

• Yes

• No

Environmental Regulations: Is the company in compliance with environmental regulations for properties it manages?

• Yes

• No

Property Management

Maintenance and Repairs: Are properties regularly inspected, maintained, and repairs promptly addressed?

• Yes

• No

Tenant Relations: Is there a process for addressing tenant concerns and resolving disputes?

• Yes

• No

Occupancy Rates: Are occupancy rates consistently monitored and optimized?

• Yes

• No

Lease Agreements: Are lease agreements and rental collections managed effectively?

• Yes

• No

Risk Management

Insurance Coverage: Are properties adequately insured, and insurance policies regularly reviewed?

• Yes

• No

Emergency Response: Is there a well-defined emergency response plan for unexpected events (e.g., natural disasters)?

• Yes

• No

Internal Controls

Internal Audits: Are regular internal audits conducted to assess the effectiveness of controls and processes?

• Yes

• No

Segregation of Duties: Are financial responsibilities appropriately segregated to prevent fraud?

• Yes

• No

Document Management: Are important documents, such as contracts and financial records, securely stored and accessible as needed?

• Yes

• No

Employee and Training

Staff Training: Are employees regularly trained on compliance, safety, and company policies?

• Yes

• No

Employee Background Checks: Are background checks conducted for employees handling sensitive information or finances?

• Yes

• No

Whistleblower Policy: Is there a mechanism for employees to report concerns without fear of retaliation?

• Yes

• No

Technology and Security

Data Security: Is there a robust cybersecurity policy to protect sensitive data?

• Yes

• No

Software Updates: Are software and systems regularly updated to protect against vulnerabilities?

• Yes

• No

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