Monthly reports - Landlord Forum thread

Monthly reports by Dawn Cross on February 5, 2002 @14:22

I am new to apartment management, and I have to fill out these monthly reports that I am not familiar with. My boss lives out of state and we have a bad communication problem, he speaks a foreign language and I don't. In the reports there are a few things I don't understand, first is he wants the monthly income report and there are some totals I'm not sure what they are i.e. he wants to know: 1.Loss to lease total, whats that mean 2.current rent write offs, not sure about this either 3.Past due rents, prior rents, and collections, what is the difference between these 3 items. Please help! my reports are due now....

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Re: Monthly reports by Olga B on February 5, 2002 @16:41	[ Reply ]

Dawn Cross on 2/5/102 2:22 PM said: >>I am new to apartment management, and I have to fill out these monthly reports that I am not familiar with. My boss lives out of state and we have a bad communication problem, he speaks a foreign language and I don't. In the reports there are a few things I don't understand, first is he wants the monthly income report and there are some totals I'm not sure what they are i.e. he wants to know: >> >>1.Loss to lease total, whats that mean >> >>2.current rent write offs, not sure about this either >> >>3.Past due rents, prior rents, and collections, what is the difference between these 3 items. >> >>Please help! my reports are due now.... >> >> Hello Dawn, I have some experience working with a management company, but your boss really should make sure you understand the way he wants things done. I'll tel you how I interpret the terms you listed. 1. The loss to lease total: The amount of rent paid that comes off the balance of the rent remaining on the lease term. 2. Current rent write offs: Unpaid rent that is written off as a loss. 3. Past due rent: the amount of rent owed by tenants that is late or unpaid. Prior rent: The amount of rent before this tenancy or increase? Collections: The total of rents which accounts are in collections. I'm sorry, but thats my best interpretation. If any professional property managers out there read this, PLEASE help. Olga