Accounting Terms
GAAP Accounting
What is Generally Accepted Accounting Principles
First form of tenant contact to attempt to collect on outstanding AR.
What is an email?
The maximum amount of business days Accounts Receivable will post rent payments from receipt.
What is 3?
The number of Harry Potter books.
What is 7?
2022 Net income was this amount below budget.
What is 10%?
NOI
What is Net Operating Income?
Second attempt in collecting on outstanding AR.
What is a phone call?
The first priority of application of payment on accounts receivable.
The fictional town Spongebob Squarepants lives in.
What is Bikini Bottom.
2022 Revenue was this amount behind budget.
What is 0.5%?
OBY
What is Over Base Year?
The third attempt to collect on unpaid AR.
What is in person PM visit?
When the payment made does not match the balance owed AR will contact this person.
Who is the Property Manager?
The number of times Ross Geller got divorced on the show Friends?
What is 3 times?
2022 Expenses were this amount over budget.
What is 0.4%?
Cap
What is the maximum total allowable passthrough amount in a particular expense type?
What is the fourth attempt in collecting AR?
What is checking with the RM and serving a 3 day notice to pay or quit?
1. late fees 2. tenant billbacks 3. other charges (i.e. parking 4. OBY/CAM 5. Percentage Rent 6. Base Rent
What is the order in which AR will apply non-matching payment amounts received?
The pop star that accidentally set their home gym on fire with candles.
Who is Britney Spears?
2022 Same Store NOI decreased by this amount.
What is 7% over prior year?
Same-Store
What is existing comparing existing company assets in the same period? Not including newly acquired assets.
The final step in non-payment of the outstanding AR
What is working with SPM/RM and send lease file to legal?
The business date of when the late fee worksheet is due to AR.
What is the 14th business day?
Snoop Dogg's best celebrity friend.
Who is Martha Stewart?
This company has the most awesome people.
Who is Basin Street?