Budget Basics
Financial Health of a Budget
Budget Prep
Budget
Budget Tabs
100

CTRL C and CRTL V

What is copy and paste?

100

Higher occupancy increases revenue.

What is how does occupancy rate affect your bottom line?

100

When the RPM does not hold the manager accountable for their portion of the required prep work

What is I have a lot of work to do myself!!

100

Adjust projections based on actual performance

What is the purpose of forecasting in a property management budget?

100

There is a hyperlink to and from this tab for Admin and marketing

What is the reference tab?

200

Annually, with quarterly reviews to ensure you are on track

What is how often should a property budget be reviewed and updated?

200

Net Operating Income

What is NOI

200

This is where you go to find the most recent mortgage statement for your property

What is the most recent final financial packet that should be in your Box folder?

200

Roof replacement

What is a capital expense?

200

Management Fee per unit - PUPM

What is the minimum $ amount on the PMA? (not the percentage)

300

Do not ignore and hope VP catches when in doubt.

What is ask questions?

300

Fixed remain constant like contract landscape; variable fluctuate with usage like utilities

What’s the difference between fixed and variable expenses?

300

Instrument to locate the percentage and price per door for the management fee.

What is a PMA?

300

Use the correct GL code.

What is AMC’s Chart of Accounts?

300

False shows on the property data tab

What is I need to research and find the missing GL?

400

The income side of the budget related to rent, showing both the potential income and the realistic net income once adjustments are made.

What is the rent revenue tab on the budget?


400

Records all financial transactions

What is the General Ledger?

400

Real Estate taxes for the budget

What is the Maricopa County Assessor Office.

400

=annualization number/12 + the number you want ($200)

What is the formula to annualize a number?

400

Just highlight and clear contents

What is do not use the DELETE button on a budget?

500

Income, Expenses, and Capital Expenditures

What are the three main components of a property management budget?

500

What is the Assumption Tab

What is the best way to confirm overall assumptions over prior year. 

500

This is where you go to get the most recent insurance amortization schedule/statement for your property.

What is ask your accountant - now don't wait!

500

Take from your T12 divide bad debt 599900 by GPR

What is the formula to obtain bad debt?

500

Use LTOL to adjust

What is how to adjust the GPR numbers?

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