Budget Basics
These are the two main components of a budget.
What are Income and Expenses?
This platform is used to code and upload invoices.
What is Ops Technology?
AME stands for this.
The SOP library is found here.
What is OneGreystar > US Property Management > Policies & Procedures?
New corporate applicants require this many years of business history.
What is 2 years?
Name at least two different types of income listed in a property budget.
What are potential rent, pet rent, amenity fees, etc?
You should never upload this as an invoice.
What is a statement?
Pre close is important for this reason.
What is that it allows time to resolve issues before deadline?
A resident gets this long to move to a new apartment in an on-site transfer without being charged rent.
What is 48 hours?
This must be submitted for a RAM request.
What is a Reasonable Accommodation and Modifications Request form?
This is the term for the difference between market rent and actual rent when the actual rent is lower.
What is loss to lease?
Name 2 common errors when uploading invoices.
What are duplicate invoices and missing vendor codes?
Utilize this tool to help you track your accounting deadlines.
What is the Accounting Workflow Calendar?
A resident must meet this minimum duration of tenancy before being eligible for an on-site transfer.
What is 3 months?
On behalf of a resident, these people can submit a RAM request.
Who are family members or caregivers?
Name at least two examples of operating expenses.
What are utilities, repairs & maintenance, office supplies, etc?
The "T" method is used for this.
What is coding invoices with GL and vendor numbers?
Name one reason why we do AME.
What is to maintain healthy cash flow and accurate records?
Use this function in your PMS for transfers.
What is the Transfer Resident Function?
This must be done within 3 business days of receiving a RAM request.
What is send a Receipt of Request letter?
Give us the importance of budgeting in property management.
What is it helps track financial performance and plan for success?
For clarity, you should always include these specifics in the invoice description.
What are the dates, unit numbers, etc?
If your AME reports do not tie out, proceed to do this.
What is use the troubleshoot guide or submit a service ticket?
This policy is required to be updated before a transfer move in.
What is Renter's Insurance?
True or false: If a corporate applicant refuses to complete the required forms, the application is not accepted.
What is True?