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Transition Audit
A transition audit checks received property records against source documents and tracks unresolved gaps before an incoming team treats the handoff as verified.
A transition audit is a focused check of the records and open responsibilities received during a management change. It compares the opening rent roll, tenant or resident ledgers, leases, deposits, cash and payable records, vendor commitments, and unfinished work against available source documents. A received file is an input, not proof that its balance, date or status is correct.
Illustrative owner review: the incoming team receives a deposit ledger and an outgoing statement with different totals. It records the difference, identifies the missing bank or tenant detail, assigns a person to obtain evidence, and keeps the opening balance unverified until the discrepancy is resolved. The audit does not authorize a transfer, adjustment or financial entry.
Sources: Coastline Equity: Switching Property Managers Without Disruption; Coastline Equity: California Property Management Transition Checklist.
Frequently Asked Questions
What should the owner see when transition records do not agree?
A named exception with the affected records, evidence still needed, responsible person and next review date. Do not label the opening position reconciled until supported.
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