One of the many important services that we offer as a full-service property management company is to provide highly detailed financial reports to our real estate investment property clients. We can provide a different types of reports based on your needs. Our reports are timely and accurate, and give you the information you need to make crucial decisions about your investment property.
We can prepare your Capital Expenditure Budget. These budgets focus on the costs of recommended major improvements such as remodeling or renovation and asset replacements such as apartment appliances, roofing, and system mechanicals. It is important to keep your rental property appearance and amenities current with your competitors’ offerings. Obsolete or rundown properties cannot command the same rental rates as those in good shape. Poorly cared for or outdated properties are not as profitable as those properties that are kept modernized and attractive in appearance.
An Operations Budget is usually done on an annual basis. It is a detailed report of all estimated income and expenses, based on anticipated sales revenue. It includes several sub-budgets, such as the business sales budget. The operations budget is the road map that used to track the ROI of the investment property. It there are any major changes, either up or down, with the actual figures not matching estimated amounts, management is alerted to determine what action needs to be taken.
The Marketing and Advertising budget includes general on-going advertisements to promote top-of-mind awareness of the real estate property, as well as specific ads for select property vacancies. This budget includes any special promotions, signage, and refreshments.
Triumph Property Management in Las Vegas, Nevada uses state-of-the-art property management financial software for preparing these and other financial accounting reports for our clients. As agents for our property owners, we work closely with them and provide the important financial information they need to run a profitable business.