Monroe & Giordano
Claffy Consulting & Business Services
Tavares, Florida
352-406-9925
beckyclaffy@
Your Commercial Loan Consultant: BECKY CLAFFY cell: 352-406-9925
Dear Client:
By answering the following questions and providing the information requested, you will provide us with a strong foundation in order to pursue your request. The information will be used to analyze and underwrite your loan preliminarily in order to establish the probable rates and structure of your particular request. The information you provide will be used to:
1) Identify the best lending resources for your loan.
2) Provide preliminary information to lenders so that the best pricing and terms can be located.
At the end of this questionnaire, please find a checklist for the financial documents that will be necessary for a proper analysis. If you wish your consultant will be happy to coordinate the receipt of all documents through your accountant and/or bookkeeper.
We appreciate this important opportunity to provide you with our consulting services. Please contact us at any time with questions and concerns.
Sincerely,
Becky J Claffy
CLAFFY CONSULTING and Business Services, LLC.
Manufactured Home Community and RV Park
Questionnaire and Checklist
Reason for financing: _______________________________________________
Acquisition: ___________ Refinance: _________ Loan Amount Requested: ________________
Subject Property:
Project Name:__________________________________________________________________
Address (include zip code): ______________________________________________________
Local Market Information:
Nearest Town/City (include closest city in excess of 100,000): ________________________
______________________________________________________________________________
Population of Town/City: ________________________________________________________
What are the largest employers in the area of the park and approximately how many tenants?
are employed by each: ___________________________________________________________
______________________________________________________________________________
What is the government municipality or county with jurisdiction over the property?________
______________________________________________________________________________
Park Information:
Is your project under rent control: __________ If so, please explain: _____________________
Age of Project: ____________________
Number of Spaces: ____________________
Acreage: ____________________
Homes per Acre(Density): ____________________
Tenant Profile: ____________________% Family
____________________% Adult
____________________% Adults that are Retired
Occupancy: ____________________% Current
____________________% Last Year
____________________% Year Before Last
Is this park in lease up or expanding: (Please explain) ________________________________
Is any of the park on a land lease: _________________________________________________
How many of the homes are owned by the park: _____________________________________
Approximate number of homes currently for sale: ____________________________________
What is the average age of the homes: _____________________________________________
How many are double-wide: _____________ How many are single-wide:________________
How many spaces will accommodate double-wides: _________________________________
RV INFORMATION:
Are any of the park spaces occupied by RV’s or park models: __________________________
If so, how many: ______________ Park models: _______________ RV’s: __________________
What is the average rent: ________________________________________________________
How many RV’s are annual or 6+6 rentals: _______ Annual: __________ 7+5: ____________
Is this broken down in the rent roll and operating statements: _________________________
Breakdown RV rents: Annual $______________ 6+6______________ 7+5 ______________
Other:_________________________________________________________________
Do tenants sign leases: __________ Term of Lease: __________________________________
When are rents expected to increase next: ______________ How much: __________________
Are any model homes (income from dealers) included in rent roll: _______________________
If so, how many spaces: ________________________________________________________
Are there any rent concessions: ________ If so, please explain: _________________________
______________________________________________________________________________
When and how much was the historical rent increase for the last 5 years: _______________
_____________________________________________________________________________
Do the rent increases go into effect on the lease anniversary dates or at a specific time? _____
Amenities:
Clubhouse: _____ Laundry: _____
Pool: _____ RV Storage: _____
Tennis Courts: _____ Lake: _____
Shuffleboard: _____ Exercise Room: _____
Golf: _____ Jacuzzi: _____
Other: _________________________________________
UTILITES:
Is the sewer connected to a municipal system-if so, with whom: _______________________
If not, please explain: __________________________________________________________
Is the water connected to a municipal system-if so, with whom: ________________________
If not, please explain: _________________________________________________________
What utilities are included in the rent: ____________________________________________
Who is responsible for the lawn mowing: _________________________________________
Are there any service and maintanence contracts in effect: ________________________________
Please list: ___________________________________________________________________
____________________________________________________________________________
Service providers and contractors for the property.
Electricity: _______________________________Pest Control: _________________________
Solid Waste: ______________________________ Natural Gas: ________________________
Landscaping: _____________________________Pool Service: _________________________
Storm Sewer:______________________________
Streets and parking:
Are the streets paved: ____________Approximate width of the streets: ___________________
How many cars can park at each home off the street: _________________________________
Is there guest parking: _____ Where: ____________________________How many:________
Market information:
Is this Park rated? If so please indicate: 5 Star 4 Star 3 Star 2 Star
List the 4-5 competitors to your park:
|Property |Approximate Rent Range |Occupancy Percentage |
| | | |
| | | |
| | | |
| | | |
| | | |
What is the overall market vacancy: _______________________________________________
Park Improvements:
Please list any capital improvements made to the property in the previous 3 years:
|Year |Improvement |$ Amount |
| | | |
| | | |
| | | |
Borrower Information:
Name of the Borrowing Entity: ______________________________________FEIN #_______
Type of Entity: Corporate_____ Partnership_____LLC________ Individual_______________
Is this a single asset entity: _____ If no, explain: ______________________________________
_____________________________________________________________________________
What is the address of the Borrowing Entity: ________________________________________
_____________________________________________________________________________
Who are the principals (major stockholders, general partners, etc.):
_______________________ _____ ________________________________________________
Name % Address
______________________ _____________________ _______________________________
Phone Numbers Fax number Email address
_______________________ _____ ________________________________________________
Name % Address
_______________________ _____________________ _______________________________
Phone Numbers Fax Number Email address
_______________________ _____ ________________________________________________
Name % Address
_____________________ _____________________ _______________________________
Phone Numbers Fax Number Email address
Who is the on site manager: ________________________________Phone:________________
Miscellaneous:
Do you have a recent Appraisal: __________ If so, what is the date of the appraisal and who
is the provider?: _______________________________________________________________
Do you have an Environmental Report: _____ If so, what is the date of the report and who is the provider? _____________________________________________________________
Do you have a survey of the property? By whom: ____________________Phone:___________
Is the park in a high risk flood plain? _______________________________________________
Who is your Property Insurance Agent? ____________________________Phone:___________
Do you have any oil or gasoline tanks in the property?: _______________________________
Do you have a recent copy of your credit bureau report? _______ If not, please advise and explain in advance any probable negative credit information (only within the last 7 years) _____________________________________________________________________________
______________________________________________________________________________
Current Project Financing:
What is the current debt on the project: __________________________________________
To whom: _____________________________________________________________________
Monthly payments: ______________________What is the current note due date:___________
Certification: I hereby certify that the above is true and correct to the best of my knowledge. Claffy Consulting & Business Services may be paid for servicing the loan by the lender. I also agree to give Claffy Consulting and Business Services the exclusive right to present this submission to lenders within the company’s established network of providers, except for the following lenders: (Please list any lenders we may not contact).
Please sign in the space provided below:
______________________ ___ Date:_________
Financial Documents Required: The following list are items that will allow an initial analysis of your loan request.
Checklist: Please provide the following as soon as possible:
1. YTD Income & Expense Statements with corresponding balance sheets for the last three years.
2. Trailing 12 months income and expense broken down by month.
4. Next 12 Month Projections of Income & Expense.
5. Current Rent Roll
6. Copy of last rent increase notice/letter.
7. Pictures.
8. Copy of Appraisal (if Available). Even if the appraisal is old, it provides a wealth of initial information. Generally, a new appraisal will be required or the existing appraisal recertified.
9. Borrower and/or Principal Financial Statements (signed and dated within 90 days.)
10. Borrower and/or Principal Resume of experience. Lenders are looking for a borrower history which might show management abilities and information on the performance of other parks owned now or in the past.
11. Prospectus of property and projected cash flows (if applicable).
12. Copy of Executed Sales Contract (If Applicable).
13. RV Parks Only-Monthly Breakdown of Income for last 12 months showing annuals vs.
transients.
**Please note: Additional items, such as historical tax returns, will be necessary for documentation prior to to the lender.
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