Income & Expense Essentials
This is the primary source of property income, typically generated from leasing units.
What is rental income?
This is defined as the sum of rent for all units, including vacant ones and amenity pricing.
What is Gross Potential Rent (GPR)?
This represents lost rent when units are unoccupied.
What is vacancy loss?
This report compares actual performance to budgeted amounts.
What is the Budget Comparison report?
This metric is calculated by subtracting vacancy loss from market rent and dividing by market rent.
What is physical occupancy?
This accounting method records income and expenses when they actually occur, not when cash is exchanged.
What is accrual accounting?
This represents the difference between market rent and what a resident actually pays.
What is loss to lease?
This is an incentive offered to reduce rent and is separate from loss to lease.
What are concessions?
This report shows the maximum rent a property could generate under ideal conditions.
What is the GPR (Gross Potential Rent) report?
This includes fees, utilities, and other revenue streams beyond rent.
What is other (ancillary) income?
This term describes the amount of rent a resident is actually paying.
What is actual rent?
This occurs when unpaid balances are removed and placed into bad debt after move-out.
What are write-offs?
This report allows you to drill down to individual unit-level financial details.
What is the GPR report?
This financial tool acts as the property’s yearly game plan.
What is a budget?
This type of rent reflects the base rent plus amenities and sets asset value.
What is market rent?
In a perfect scenario, this percentage would be collected if there were no vacancy or concessions.
What is 100% of potential rent?
This is what OneSite uses in place of the GPR report.
What is the Lost Rent Summary report?
This figure gives a more realistic performance view because it accounts for loss to lease.
What is potential rent?
This category explains the gap between potential rent and actual collected income.
What is other rental income (adjustments section)?
This detailed report records every transaction and supports financial statements.
What is the General Ledger?
This final metric is calculated after subtracting both controllable and non-controllable expenses from income.
What is Net Operating Income (NOI)?