Comprehensive Summary of Income Statement

Income Statement 12 Month Trend

All Properties - Cash

• As of Date: 06/17/2025

• Location Group: ALL PROPERTIES

• Time Period: Trends from 11/25/2023 to 06/25/2025

Income

Rental Income

• Scheduled Rent:

  • Trends from $3,662,103$ (11/25/2023) to $3,206,254$ (06/25/2025).

  • Total Actual: $73,529,856$

• Charitable Units:

  • Fluctuates, with some months at $-0$ and others around $-1,500$.

  • Total Actual: $-35,270$

• Rent Below Unit Schedule:

  • Ranges from $-64,395$ to $-181,163$.

  • Total Actual: $-1,775,091$

• Month To Month Fee:

  • Varies, generally low amounts.

  • Total Actual: $5,092$

• Vacancy Loss:

  • Ranges from $-195,117$ to $-292,576$.

  • Total Actual: $-4,546,720$

• Lost Rent - Admin Units:

  • Consistent $-3,579$ except for a few months at $-3,679$ or $-3,711$.

  • Total Actual: $-68,847$

• Lost Rent - Down Units:

  • Generally in the $-2,000$ to $-5,000$ range.

  • Total Actual: $-63,146$

• Concessions/Discounts:

  • Ranges from $-7,267$ to $-25,319$.

  • Total Actual: $-302,166$

• Office Unit:

  • Mostly $-0$ but with some negative values.

  • Total Actual: $-16,902$

• Delinquent Rent:

  • Highly variable, ranging from large negative to positive values.

  • Total Actual: $-504,022$

• HUD A/R:

  • Mostly zeros, one month at $1,254$.

  • Total Actual: $1,254$

• Prepaid Rent:

  • Ranges widely, both positive and negative.

  • Total Actual: $113,745$

• Write-off - Rent:

  • All negative values, ranging from $-19,256$ to $-101,074$.

  • Total Actual: $-1,246,851$

• Total Rental Income:

  • Ranges from $2,716,969$ to $3,496,258$.

  • Total Actual: $65,090,932$

Other Income

• Application Fee Income:

  • Ranges from $10,110$ to $17,610$.

  • Total Actual: $255,303$

• Administrative Fees:

  • Mostly $0$ with one month at $600$.

  • Total Actual: $1,379$

• Late Charges Income:

  • Ranges from $37,458$ to $62,215$.

  • Total Actual: $1,003,731$

• NSF Check Fee Income:

  • Ranges from $1,800$ to $3,752$.

  • Total Actual: $52,973$

• Laundry Room Income:

  • Varies, around $700-800$ typically, some months with $0$ or negative values.

  • Total Actual: $14,318$

• Vending Income:

  • Mostly $0$ with occasional small amounts.

  • Total Actual: $236$

• Parking Income:

  • Ranges from $5,927$ to $7,152$.

  • Total Actual: $131,168$

• Renter's Insurance Premium:

  • Ranges from $7,069$ to $39,587$.

  • Total Actual: $233,535$

• Storage Space Rental:

  • Consistent, around $1,185$ to $1,720$.

  • Total Actual: $26,688$

• Keys, Locks, Lock Changes:

  • Mostly low values.

  • Total Actual: $3,498$

• Legal & Collection Fee Income:

  • Ranges, higher values at the beginning and end of the period.

  • Total Actual: $52,786$

• Pet Rent:

  • Consistent, around $7,700$ to $8,600$.

  • Total Actual: $164,127$

• Pet Fee Income:

  • Ranges from $1,529$ to $4,998$.

  • Total Actual: $59,932$

• Furniture Rental Income:

  • All $0$, no income.

  • Total Actual: $0$

• Washer/Dryer Rental Income:

  • Consistent $25$ per month.

  • Total Actual: $500$

• Cable Revenue Sharing:

  • Ranges from negative values to around $6,000$.

  • Total Actual: $26,426$

• Electric Revenue Share:

  • Ranges from $0$ to $2,860$.

  • Total Actual: $20,081$

• Dmgs/Sec Dep Forf/Relet Fees:

  • Ranges from $13,414$ to $43,909$.

  • Total Actual: $469,390$

• Write-Off Uncollectible:

  • All $0$.

  • Total Actual: $0$

• Interest Income:

  • Ranges from $7,204$ to $15,416$.

  • Total Actual: $215,746$

• Insurance Proceeds:

  • High variability, with a very large value in 12/25/2024 due to insurance claim.

  • Total Actual: $1,870,509$

• Miscellaneous Income:

  • Several smaller amounts.

  • Total Actual: $199,724$

• Total Other Income:

  • Ranges from $118,635$ to $1,736,513$.

  • Total Actual: $4,802,050$

Total Income

• Ranges from $2,872,003$ to $4,992,668$.

• Total: $69,892,982$

Operating Expenses

Administrative

• Copy/Printers: Ranges from $512$ to $2,845$.

  • Total: $47,240$

• Dues, Subscript, License, Fees: Ranges from $1,756$ to $14,682$.

  • Total: $170,359$

• Email Service & Website Maint.: Mostly around $9,600$ to $10,000$.

  • Total: $197,265$

• Internet Service - Office: Ranges from $1,646$ to $3,534$.

  • Total: $53,867$

• Legal-Evictions: Highly variable, from $2,126$ to $19,422$.

  • Total: $188,211$

• Management Activities: A wide range, with a large spike in one month.

  • Total: $84,866$

• Office Equip Repair: Significant variation.

  • Total: $70,222$

• Office Furn, Equip & Comptr: Smaller amounts.

  • Total: $12,546$

• Office Supplies: Ranges from $625$ to $3,406$.

  • Total: $31,894$

• Postage, Courier, & Freight: Mostly around $1,000$ to $2,000$.

  • Total: $31,306$

• Property Internet/Wi-Fi: Zero throughout the period.

  • Total: $0$

• Renter's Ins Prem: Stays relatively consistent.

  • Total: $36,470$

• Software Fees: Mostly consistent, around $27,000$ to $30,000$.

  • Total: $563,200$

• Telephone - Office and Pool: Ranges from $5,821$ to $17,831$.

  • Total: $268,533$

• Miscellaneous Admin.: Generally low.

  • Total: $14,867$

• Total Administrative: Ranges from $39,570$ to $119,825$.

  • Total: $1,770,846$

Payroll

• Office Payroll: Ranges from $54,134$ to $159,855$.

  • Total: $2,289,874$

• Maintenance Payroll: Ranges from $70,619$ to $209,973$.

  • Total: $2,793,981$

• Insurance Benefits: Ranges from $17,896$ to $30,327$.

  • Total: $470,929$

• Payroll Taxes: Ranges from $9,295$ to $35,009$.

  • Total: $405,145$

• Temporary Personnel: Ranges from $5,772$ to $29,538$.

  • Total: $347,256$

• Employee Housing: Ranges from $24,418$ to $55,591$.

  • Total: $789,732$

• Other Payroll Expenses: Relatively small amounts.

  • Total: $8,982$

• Total Payroll: Ranges from $239,966$ to $468,316$.

  • Total: $7,105,899$

Utilities

• Electric/Common: Ranges from $9,086$ to $65,062$.

  • Total: $801,774$

• Electric/Vacant: Ranges from $410$ to $17,803$.

  • Total: $151,122$

• Electric/Occupied: Ranges from $423$ to $6,095$.

  • Total: $66,091$

• Gas: Ranges from $4,934$ to $26,842$.

  • Total: $293,200$

• Water & Sewer: Significant expense, ranging from $96,535$ to $257,457$.

  • Total: $4,373,837$

• Utility Conservation Contract: Zero throughout the period.

  • Total: $0$

• Vacant Water: Relatively low.

  • Total: $23,886$

• Trash Removal: Stays consistent, high expense.

  • Total: $1,091,739$

• Elect/Water/Sewer/Trash Billed: Negative values due to billing back to residents.

  • Total: $-4,101,992$

• Total Utilities: Ranges from negative to positive.

  • Total: $2,699,657$

Contract Services

• Landscaper/Regular Services: Generally consistent.

  • Total: $1,182,356$

• Landscaper/Seasonal Services: Varies.

  • Total: $323,103$

• Cable Contract: Stays consistent when present.

  • Total: $28,087$

• Pest Control: Relatively consistent.

  • Total: $194,362$

• Utility Reading: Consistent.

  • Total: $166,333$

• Security Contract: Varies.

  • Total: $134,125$

• Resident Internet: Consistent.

  • Total: $179,628$

• Total Contract Services: Ranges from $87,461$ to $156,986$.

  • Total: $2,207,994$

Repairs and Maintenance

• Access Gates Repairs & Maint: Minimal expenses.

  • Total: $662$

• Appliance Parts & Repairs: Varies.

  • Total: $96,172$

• Bed Bug Treatment: Small expenses.

  • Total: $15,410$

• Carpet Clean/Repair: Varies.

  • Total: $32,017$

• Electrical Parts & Labor: Fluctuates.

  • Total: $165,133$

• Equipment Rental: Very low values.

  • Total: $1,314$

• Exterior Repair/Fixtures: Ranges.

  • Total: $46,013$

• Fence Repairs: Low, Varies.

  • Total: $6,849$

• Fire Sprinkler Repairs: Limited.

  • Total: $1,393$

• Golf Cart Repairs: Minimal.

  • Total: $14,326$

• Hardware: Varies.

  • Total: $28,409$

• HVAC Parts & Labor: High variability.

  • Total: $252,644$

• Interior Repair/Fixtures: Generally low expenses.

  • Total: $44,567$

• Janitorial Supplies: Relatively consistent.

  • Total: $47,288$

• Keys & Locks: Varies.

  • Total: $36,019$

• Landscaping Supplies: Changes.

  • Total: $46,624$

• Laundry W/D Parts & Repairs: Low amounts.

  • Total: $3,565$

• Maid & Housekeeping Services: Low expense.

  • Total: $21,706$

• Painting - Exterior: Low.

  • Total: $18,437$

• Painting - Interior: Varies.

  • Total: $88,869$

• Parking Lot Repairs & Maint.: Lower amounts.

  • Total: $4,247$

• Pest Control Supplies: Vary.

  • Total: $14,267$

• Plumbing Parts & Labor: Significant expense.

  • Total: $233,487$

• Pool Repairs & Supplies: Fluctuates.

  • Total: $111,632$

• Porter/Grounds: Consistent expense.

  • Total: $279,073$

• Recreation Facilities Rprs/Sup: Lower, changes.

  • Total: $26,071$

• Roof Repairs: Small, a few months.

  • Total: $3,158$

• Small Hand Tools & Equipment: Varies.

  • Total: $29,281$

• Sprinkler Parts & Repair: Low, certain months.

  • Total: $17,201$

• Tile/Vinyl Repair: Low amounts.

  • Total: $6,899$

• Misc. Repair/Maintenance: Lowest Amounts.

  • Total: $849$

• Total Repairs And Maintenance: Ranges from $47,182$ to $111,540$.

  • Total: $1,693,582$

Turnover Expenses

• Carpet Clean/Repair: Ranges from $872$ to $4,741$.

  • Total: $53,733$

• Cleaning: Fluctuation, typically higher.

  • Total: $329,389$

• Make-ready Supplies: Significant cost, usually higher.

  • Total: $634,883$

• Make-ready Labor: Varies.

  • Total: $234,945$

• Painting/Sheetrock: Significant, unstable numbers.

  • Total: $1,025,449$

• Vinyl & Tile Repair: Usually, small cost.

  • Total: $16,703$

• Misc. Turnover Expense: Lowest.

  • Total: $31$

• Total Turnover Expenses: Ranges from $68,320$ to $183,644$.

  • Total: $2,295,133$

Marketing

• Advertising/Publications: Lowest, only $744$.

  • Total: $744$

• Balloons/Signage: Varies.

  • Total: $37,074$

• Brochures: Most $0$ except one month.

  • Total: $16,053$

• Credit & Criminal Checks: Varies.

  • Total: $93,939$

• Locator Fees: Fluctuates.

  • Total: $57,263$

• Web Based Advertising: Mostly around $15,000$ to $20,000$.

  • Total: $344,362$

• Marketing & Promotions: A spike of $10,000$ one month.

  • Total: $20,006$

• Mini Model: Varies but still minimal.

  • Total: $25,845$

• Resident Activities: Ranges.

  • Total: $51,912$

• Other Marketing: Minimal payments.

  • Total: $1,286$

• Total Marketing: Ranges from $18,550$ to $44,480$.

  • Total: $648,484$

Taxes and Insurance

• Accrued Real Property Tax: High and same in the period.

  • Total: $8,676,355$

• 2006 Prop Tax Refund - Lower Value: Negative value.

  • Total: $-71,678$

• Accrued Property & Liab Prem: Stable.

  • Total: $4,037,214$

• Total Taxes And Insurance: Ranges from $588,582$ to $746,553$.

  • Total: $12,641,891$

Management Fees

• Management Fees: Stable, similar.

  • Total: $2,838,832$

• Total Management Fees: Ranges from $49,378$ to $157,333$.

  • Total: $2,838,832$

Total Operating Expenses

• Ranges from $546,791$ to $1,908,221$.

  • Total: $33,902,318$

Net Income (Before Debt Service)

• Ranges from $1,432,152$ to $3,246,604$.

  • Total: $35,990,664$

Debt Service

• Principal:

  • Ranges widely, including negative values.

  • Total: $1,094,896$

• Interest:

  • Multiple interest lines with varying amounts.

  • Total Interest: $3,593,267 + 1,607,147$

• Total Debt Service:

  • Ranges widely, including negative values.

  • Total: $10,643,250$

Net Income (After Debt Service)

• Ranges from $921,469$ to $2,656,682$.

  • Total: $25,347,414$

Non-Operating Expenses

Recurring Capital Expenses

• Appliance Replacement: Fluctuates.

  • Total: $671,553$

• Blinds: Minimal payments.

  • Total: $68,606$

• Cabinet & Countertop Rplcmnt: Mostly Low.

  • Total: $75,383$

• Carpet Replacement: Significant fluctuation.

  • Total: $338,671$

• Countertop & Tub Resurface: Range.

  • Total: $694,760$

• Make-Ready Package: Varies.

  • Total: $132,312$

• HVAC Replacement: Significant swings.

  • Total: $304,613$

• Paint Upgrade: Changes.

  • Total: $273,264$

• Screens/Windows/Doors: Varies a decent bit.

  • Total: $158,050$

• Vinyl & Tile Replacement: Significant.

  • Total: $1,012,032$

• Sub-Floor Repairs: Varies.

  • Total: $44,791$

• Total Recurring Capital Expenses: Ranges from $77,435$ to $369,543$.

  • Total: $3,774,035$

Non-Recurring Capital Expenses

Major Appliance Upgrades
Total: $5,782
Major Electrical
Total: $257,215
Major Exterior Repairs
Total: $5,162,216
Major Fencing
Total: $43,574
Major HVAC
Total: $1,415,136
Major Interior Repairs
Total: $268,181
Major Interior Upgrades
Total: $15,981
Major Fire Repairs
Total: $331,464
Major Landscape
Total: $814,319
Major Laundry Room Upgrades
Total: $8,633
Major Marketing
Total: $174,673
Major Mgr's Office Renovation
Total: $10,519
Major Paint - Exterior
Total: $3,738
Major Paint - Interior
Total: $1,250
Major Parking Lot
Total: $417,788
Major Plumbing
Total: $1,035,230
Major Pool Repairs
Total: $340,587
Major Roof Repairs
Total: $172,812
Major Solar Screens
Total: $19,485
Major Stairwells
Total: $102,560
Storm Damage 5-2024
Total: $1,499,768
Insurance Claim
Total: $41,303
Major Other
Total: $188,886
Painting/Sheetrock
Total: $27
Total Non-Recurring Expense
Ranges from $150,931 - $1,201,797
Total: $12,331,127

Renovation Expenses

Exterior Expenses

Signage

• $0$ for all months, Total Exterior Expenses, and Total Renovation Expenses. The total for each of these categories is therefore $0$.

Ownership Expenses

Asset Management Fee
Total: $383,857
Auto/Travel Reimbursement
Total: $88,557
Bank Charges
Total: $97,134
Education
Total: $36,470
Incentives
Total: $211,694
Mobile Phone/Pager
Total: $5,675
Payroll Processing
Total: $34,293
Personnel Advertising
Total: $17,143
Uniforms
Total: $60,363
Legal-Partnership
Total: $4,821
Legal Fees-Lawsuit
Total: $107,364
Legal Fees-Closing
Total: $22,300
Tax Preparation
Total: $80,645
Other
Total: $32,134
2006 Prop Tax Refund - Lower Value
Total: $-229,539
Misc. Professional Fees
Total: $105,340
Non-Mortgage Interest Exp
Total: $3,032
Other Ownership Expenses
Total: $15,584
Total: $10,473
Franchise Tax
Total: $113,072
Asset Management Fee
Total: $28,331
Total Ownership Expenses
Ranges from the lowest $ (124,439) to largest $146,536
Total: $1,228,743

Depreciation & Amortization

Depreciation-Building
Total: $2,981,222
Amort.-Loan & Closing Costs
Total: $207,538
Total Depreciation & Amortization
Total: $3,188,760

Total Non-Operating Expenses

• Total:* $20,522,665

Net Income

• Total:* $4,824,750

Created on: 06/17/2025 8:04 AM PST