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What Is Included In a Property Management Report?

What Is Included In a Property Management Report?

With housing prices in Pleasanton dropping, the rental market remains unstable. You can take action to keep your properties rented and profitable no matter the market.

Good owner statements and reporting are essential. They give you the data you need to make informed decisions about your properties.

Learn more about what your owner statements should include and how to get more accurate reporting.

Income and Expense Statement

The income and expense statement is also called the profit and loss statement. You may be able to deduct rental losses from your taxable income.

An income and expense statement clearly categorizes the flow of income and expenses. The main elements are:

  • Income by category
  • Overall total income
  • Expenses by category
  • Overall total expenses

The statement includes an overall total, which is the total income minus the total expenses. You can clearly see whether a property is profitable or not.

Owner Statement

An owner statement can also be called an owner cash report or rental owner cash report. It's similar to the income and expense statement.

However, the owner statement includes the beginning and ending balances. It will include your reserve targets if you have any. A reserve target is money to cover unexpected property expenses.

The main parts of an owner statement are:

  • Beginning balance
  • Categorized income
  • Categorized expenses
  • Ending balance

If you own multiple properties, you'll usually have a master page that consolidates them all together. Subsequent pages of the statement will show individual properties.

Operating Statement

An operating statement is another way to look at income and expenses. It shows the overall health of your entire real estate portfolio. The statement includes:

  • Itemized gross rental income
  • Operating expenses
  • Net operating income

The main difference between an operating statement and the income and expense statement is the level of detail. An operating statement gives you more information.

Account Ledger Report

An account ledger report details all the debit or credit transactions on a property ledger. You can get a report for a single property, multiple properties, or your entire portfolio. The report includes:

  • Transaction date
  • Description
  • Category
  • Amount

Account ledger reports provide evidence for bank account balances on the balance sheet. However, the balance in an account ledger report is a per-transaction balance. The balance varies depending on the date range of the report.

Timing of Owner Statements and Reporting

You should get property management reports at least quarterly. You should also get a year-end report for tax purposes. Many property investors want monthly owner statements.

The terms of your property management agreement will specify the frequency of reporting. You can request information on other metrics that impact the profitability of your investment properties, such as:

Good property management reports help you get more from your rental properties.

Start Getting Better Owner Statements

Owner statements and reporting are essential for maximizing the returns on your real estate investments. Property management reports give you essential data like the ratio of income to expenses.

You can trust Advantage Property Management Services in Pleasanton for timely and accurate reporting. Our full-service property management includes more than just reports. We'll help you understand the data and maximize profitability.

Schedule a consultation with Advantage Property Management Services today and start benefiting from our optimized reporting.