At Triumph Property Management, various accounting reports are typically provided to our property owners to keep them informed about their properties’ financial performance and status. These reports help property owners understand how their investments are performing and make informed decisions about their properties.

Some common accounting reports provided to property owners include:

1. Income Statement (Profit and Loss Statement)

This report summarizes the property’s revenues and expenses over a specific period, usually a month, quarter, or year. It shows the net income or loss generated by the property during that period.

2. Balance Sheet

A balance sheet provides a snapshot of the property’s financial position at a specific point in time. It lists the property’s assets (such as property value, cash, and accounts receivable) and liabilities (such as mortgages, loans, and accounts payable). The difference between assets and liabilities represents the property’s equity.

3. Cash Flow Statement

The cash flow statement shows how cash flows in and out of the property over a specific period. It categorizes cash flows into operating, investing, and financing activities. Property owners can assess whether the property generates positive or negative cash flow and identify any potential cash flow issues.

4. Rent Roll Report

This report lists all the rental units within the property, including tenant names, unit numbers, lease terms, rental rates, and any outstanding balances. It helps property owners track rental income and occupancy rates.

5. Aged Receivables Report

This report provides details about tenants who owe rent or other charges, broken down by the duration of the outstanding balance. It helps property owners identify and address any overdue payments.

6. Expense Summary Report

This report lists all the property-related expenses incurred during a specific period, such as maintenance costs, property management fees, utilities, and repairs. It provides insights into the property’s operating costs.

7. Budget vs. Actual Report

A comparison between the budgeted amounts and the actual expenses and income for a given period. This report helps property owners assess whether the property stays within budget and identify areas where adjustments may be necessary.

8. Maintenance and Repairs Report

This report outlines the maintenance and repair activities performed on the property, along with associated costs. It helps property owners understand the property’s ongoing maintenance needs.

9. Capital Expenditure Report

This report highlights significant expenses related to capital improvements or upgrades to the property, such as renovations, replacements, or major repairs. It provides a long-term view of investments in the property’s value.

10. Vacancy and Occupancy Report

This report provides information about the property’s vacancy and occupancy rates over a specific period. It helps property owners monitor the property’s rental performance.

 

These reports give property owners a comprehensive overview of their property’s financial health and performance every month, allowing them to make informed decisions and adjustments as needed.