Cap Rate Conundrums
The formula for cap rate is NOI divided by this value.
What is property value?
his module tracks unpaid balances in Rent Manager.
What is Accounts Receivable?
Before paying an invoice, the first steps are always to verify this.
What is that the vendor is approved and matches the work completed?
This is the most common type of resident complaint in mobile home parks.
What is noise or neighbor disputes?
If a unit is abandoned, the property manager must complete this process before taking possession or disposing of personal property.
What is an abandoned property procedure (or legal title transfer)?
Investors often accept a lower cap rate in markets with this perceived factor.
What is lower risk (or higher stability)?
In Rent Manager, this feature allows tenants to pay online through a secure portal.
What is Tenant Web Access (TWA)?
When processing an invoice in Rent Manager, you must assign this so the expense posts to the correct category.
What is a GL (general ledger) account?
In most states, before beginning eviction proceedings, you must deliver this official notice.
What is a pay or quit notice (or notice to vacate)?
A tenant calls to complain that their neighbor has turned their yard into a junkyard. The first step is this.
What is sending a lease violation notice?
Cap rate is most often used to estimate this.
What is a property's return on investment?
Rent Manager integrates with this type of payment processor to accept ACH and credit card payments.
What is a third-party merchant services provider (e.g., Zego/Paylease)?
In Rent Manager, this tool is used to allocate expenses to specific projects for tracking total cost.
What is the Job Costing module?
Tenant-owned homes pay this type of rent.
What is lot rent?
A resident’s pitbull bites another tenant on the property. The first response is to file this type of report.
What is an incident report (and notify insurance)?
Two properties have the same NOI of $120,000. Property A trades at an 8% cap, Property B at a 6% cap. This property is more expensive.
What is Property B?
This feature automates monthly rent charges.
What is Recurring Charges?
Before a contractor can be paid, you should always collect this tax form.
What is a W-9?
The unofficial mascot of every mobile home park is this animal.
What is a stray cat (or raccoon)?
During due diligence, you discover the park’s main sewer line is made of clay and collapsing. This material is commonly known as this.
What is Orangeburg pipe?
As the cap rate decreases, the property value does this (assuming NOI stays the same).
What is increase?
When Rent Manager freezes, the official IT solution is usually this.
What is “log out and back in again”?
If an invoice is coded to “repairs and maintenance” instead of “capital improvements,” this financial metric will be misstated.
What is Net Operating Income (NOI)?
This type of utility infrastructure often represents the largest capital expense in older parks when it fails.
What is underground water and sewer lines?
During winter, multiple homes report frozen pipes. The best operational solution is to install these.
What are heat tape or insulated skirting?