Incoming!
A negative impact on your overall income. Calculated on average as 1% of GPR and used to aid in leasing or honor recurring specials.
What are rent concessions?
An interactive report that shows total budgeted amounts in each GL code and the total spent in that month.
What is the budget comparative report?
What is turnover parts and replacements?
The person who should complete snow logs every day regardless of weather in the months of December-February. (November and March included if needed)
Who is your maintenance tech?
The line item that will show you how much you have set aside per month for resident retention, events, or gifts.
An income category that can include lease violations, rent plus reporting income and internet upgrades.
What is miscellaneous tenant income?
A task option on a vendor page as well as a runnable report that shows every invoice paid to said vendor.
What is the bill detail?
The amount budgeted quarterly at most properties for maintenance uniform replacements.
What is $100?
A task that can be moved in house if your monthly budget in this category is tight or the work load will take less than 3 hours.
What is a touch up paint?
A form that should be filled out and sent NO MATTER WHAT for anything that occurs on property that is outside of normal operations and could affect safety, expenses, or day to day operations.
What is an incident report?
A sum calculated by looking at total unit count and set market rent over the course of a month for all units, occupied or not.
What is Gross Potential Rent?
A report that shows all possible GL codes that IMM uses.
What is the chart of accounts?
The expense line that all Poo Prints swab and collection kits are budgeted in.
What is landscape supplies?
The task that should be completed in house by a maintenance tech if the repairs will take under 4 hours.
What are drywall repairs?
The monthly deadline for changes to invoices, GL codes, invoice splits and the absolute last day to review a month's expenses and income.
What is the 3rd of the month?
A charge that is phased out in 2026 across all properties, replaced by the resident service fee.
What is the TLL fee?
A humorously named report that shows move ins, notices, renewals and move outs for a property in a specific post month.
What is the tenant tickler?
The percentage of total operating income that is used to calculate management fees.
What is 5%?
A line item budgeted for service calls, supplies and repairs that we consistently over spend on and call vendors out for repairs that can be done in house.
What are plumbing repairs?
The financial factor that consistently increases year over year and is one of the primary reasons that rent has to increase for your property to remain profitable?
the amount of income per month lost due to unoccupied units. Set monthly based on overall occupancy goals per property
What is Vacancy loss?
A report that shows every unit with occupancy status, market rent, lease dates and balances due.
What is a rent roll?
One of the largest expenses for each property that can increase exponentially without warning or an increase cap year after year.
What are property taxes?
The person who should be completing touch up cleans on units.
Who is the property manager or leasing professional?
The most important financial benchmark for your property that is calculated by subtracting your operating expenses from your operating income.
What is Net Operating Income?