What is the primary purpose of reading all the leases when taking over new property?

The primary purpose of reading all the leases when taking over new property is to identify the amount of rent. This is crucial as it provides the property manager with a clear understanding of the rental income that the property generates. Knowing the exact rental amounts, including any variations between different units or tenants, helps in budgeting, financial forecasting, and evaluating the property's cash flow status.

Additionally, understanding the rent details can assist in identifying any discrepancies, potential rent increases allowed by the leases, and ensuring compliance with rent control laws if applicable. It serves as a foundational aspect of property management, influencing strategic decisions regarding marketing, renewals, and overall property management plans. This knowledge lays the groundwork for effective financial management of the property.

The other options, while important in their own contexts, do not primarily focus on the immediate financial implications that understanding rent entails, making them secondary to the main purpose of lease review during a property takeover.