Rent Summary Report Tab

Make the following menu selections to display this page:

Reports—Accounting Reports—Rent Summary

The Rent Summary Report is a summary of rents due and collected for the current period. The purpose of this report is to reconcile the current month’s rental income for the property. Supporting detail by unit may be printed independently for both the Rent Collected and Rent Potential sections. All transactions with a transaction date for the selected property's current accounting period are included.

Selection Criteria

Fields

Report Details

Fields

NOTE that the report details below assume all defaults are selected.

Rent Collected

Current Month Rent

Rent payments collected in the current accounting period for charges due in the current accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the due date is in the current accounting period (due date on a payment is the due date of the charge being paid), payment was made in the current accounting period and the transaction header Return flag is null.

Past Due Rent Collected

Rent payments collected in the current accounting period for any previous charges due in any previous accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the due date is in some prior accounting period (due date on a payment is the due date of the charge being paid), the payment was made in the current accounting period and the transaction header Return flag is null.

Prepaids Collected

Rent payments collected in the current accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the due date is in some future accounting period (due date on a payment is the due date of the charge being paid), the payment was made in the current accounting period and the transaction header Return flag is null.

* Total Rent Collected for the Month

The total of all Rent payments collected in the current accounting period.

This number is calculated as Current Month Rent + Past Due Rent + Prepaid Rent = Total Rent Collected for the Month.

This number matches the sum of all Rent type income codes in the Bank Deposit column of the Monthly Income Summary Report.

– Returned Checks

The total of all returned checked to the Rent income code in the current accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was made in the current accounting period, and the transaction header flag is not null.

** Net Rent Collected for Month

This number is calculated as Total Rent – Returned Checks = Net Rent Collected for the Month.

This number matches the sum of all Rent type income codes in the Net Deposit column of the Monthly Income Summary Report and matches the sum of all Rent type income codes in the Gross Potential Rent by Code—Collected column of the Reconciliation Report.

– Rent Refunds

The total of all Refunds from a Rent income code in the current accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 4 (forfeit), the income code type is Rent for the transaction aging code, and the payment was made in the current accounting period.

+ Forfeited Deposits to Rent

The total of all forfeits to a Rent income code for charges due in the current accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 4 (forfeit), the income code type is Rent for the transaction aging code and the payment was made in the current accounting period.

Total Rental Income

This number is calculated as Net Rent Collected – Rent Refunds + Forfeits to Rent = Total Rental Income.

Rent Potential

Reconciliation Gross Potential Rent

The total market rent of all units, excluding Wait List and Construction units.

This number ties to the Gross Potential Rent by Code for income codes of type Rent on the Reconciliation Report.

+ Gain/Loss to Lease

The difference between Market Rent and Lease Rent for Normal status units.

This number is calculated as Gross Potential Market Rent – Reconciliation Gross Potential Rent.

= Reconciliation Gross Rent

The sum of adjustments from prior periods, adjustments from future periods and current period adjustments.

This number ties to the Gross Potential Rent by Code for income codes of type Rent on the Reconciliation Report.

– Potential Non-Rent

Potential charges to income code types of Non-Rent. Note, this field only prints if there is a charge to a Non-Rent income code with a Potential flag set to Y.

= Gross Potential Rent

This number is calculated as Reconciliation Gross Potential Rent – Potential Non-Rent = Gross Potential Rent. Note, this field only prints if there is a charge to a Non-Rent income code with a Potential flag set to Y.

Less:

Previous Paid Rent

Rent payments collected in a previous accounting period for charges due in the current accounting period.

Rental Concessions

Concessions to income code types of Rent for this accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 1, 2, or 8 (billing or adjustment), and the income code type is Concession.

Write-Offs of Rent

Write-Offs of Rent for this accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 8 (write-off), the income code type is Rent for the transaction aging code and the payment was due in the current accounting period.

Current Month Delinquency

Current month delinquent Rent (balance) for charges due in the current accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where (if positive) the transaction was due in the current accounting period, the income code type is Rent for the transaction aging code, and if the transaction is 1, 2, 6, or 9 (billing) or 4 (rent refund), then the sum is increased and if the transaction is 3 (payment), 5 (forfeit) or 8 (write-off), then the sum is decreased.

Lost Rent by Code

Lost rent listed by income code for Employee, Model and Vacancy.

This number ties to the Lost Rent by Code on the Reconciliation Report.

Employee

The sum of unallocated lost rent for units where the Lost Rent income code type is Employee + Allocated Lost Rent to income codes where the income code type is Employee.

This number ties to the Lost Rent by Code—Employee total on the Reconciliation Report, and the Employee total on the Lost Rent Report. Note, this field only prints if there is lost rent to this income code for the current accounting period.

Model

The sum of unallocated lost rent for units where the Lost Rent income code is Model + Allocated Lost Rent to income codes where the income code type is Model.

This number ties to the Lost Rent by Code—Model total on the Reconciliation Report, and the Model total on the Lost Rent Report. Note, this field only prints if there is lost rent to this income code for the current accounting period.

Vacancy

The sum of unallocated lost rent for units where the Lost Rent income code is Vacancy + Allocated Lost Rent to income codes where the income code type is Vacancy.

This number ties to the Lost Rent by Code—Vacancy total on the Reconciliation Report, and the Vacancy total on the Lost Rent Report. Note, this field only prints if there is lost rent to this income code for the current accounting period.

Add:

Net Prepaids Collected

Net Rent payments collected in the current accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was a prepaid, and the payment was made in the current accounting period.

Net Past Due Rent Collected

Net Rent payments collected in the current accounting period for charges due in a prior accounting period. The calculation of this amount is broken down as follows:

Sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was due in some prior accounting period, and the payment was made in the current accounting period.

Total Rental Income

This number is calculated as Gross Potential Rent – Previous Paid Rent – Rental Concessions – Rent Write-Offs –Current Month Delinquency – Lost Rent by Code + Net Prepaid Rent + Net Past Due Rent.

Rent Collected

Unit

The building + unit number. For instance, 01-A101.

Current Month Rent

The sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was due in the current accounting period, the payment was made in the current accounting period and the transaction header Return flag is blank.

Past Due Rent

The sum of the transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was due in some prior accounting period, the payment was made in the current accounting period and the transaction header Return flag is blank.

Prepaid Rent

The sum of the transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was due in some future accounting period, payment was made in the current accounting period and the transaction header Return flag is blank.

Total Rent Collected

This number is calculated as Current Month Rent + Past Due Rent + Future Rent = Total Rent Collected.

Returned Checks

The sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was made in the current accounting period and the transaction header Return flag is not blank.

Net Rent Collected

This number is calculated as Total Rent – Returned Checks – Rent Refund.

Rent Refunds

The sum of transaction detail amount where the transaction type is 5 (refund), the income code type is Rent and the payment was made in the current accounting period.

Forfeits to Rent

The sum of transaction detail amount where the transaction type is 4 (forfeit), the income code type is Rent and the payment was made in the current accounting period.

Total Rental Income

This number is calculated as Net Rent Collected + Forfeits to Rent.

Rent Potential

Unit

The building + unit number. For instance, 01-A101.

Market Rent

The unit market rent or street value, which may differ from the rent amount actually billed to the resident leasing the unit.

Gain/Loss to Lease

This number is calculated as Market Rent – Unit Potential Rent.

Potential Non-Rent

Potential charges to Non-Rent type income codes. Note, this field only prints if there is a charge to a Non-Rent income code with a Potential flag set to Y.

Gross Potential Rent

This number is calculated as Market Rent + Gain/Loss to Lease.

Prev Paid Rent

The sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was due in the current accounting period, and the payment was not made in the current accounting period.

Rental Conc

The sum of transaction detail amount where the transaction type is 1, 2, or 9 (billing or adjustment), and the income code type is Concession.

Rent Write-Offs

The sum of transaction detail amount where the transaction type is 8 (write-off), the income code type is Rent for the transaction aging code and the payment was due in the current accounting period.

Current Month Delinq

The sum of transaction detail amount where (if positive) the transaction was due in the current accounting period, the income code type is Rent for the transaction aging code, and if the transaction is 1, 2, or 9 (billing or adjustment) then the sum is increased or if the transaction is 3 (payment) then the sum is decreased.

Lost Rent

The sum of unallocated lost rents for units where the lost rent income code type is Employee, Model or Vacancy.

This number ties to the Lost Rent by Code on the Reconciliation Report.

Net Prepaids Collected

The sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment is due in some future accounting period, and paid in the current accounting period.

Net Past Due Collected

The sum of transaction detail amount where the transaction type is 3 (payment), the income code type is Rent, the payment was due in some prior accounting period and the paid in the current accounting period.

Total Rental Income

This number is calculated as Gross Potential Rent – Previous Paid Rent – Rental Concessions – Write-Offs – Current Month Delinquency – Lost Rent by Code + Net Prepaid Rent + Net Past Due Rent.

Grand Totals

Rent Potential

Column totals are listed as the sum of the detail for all properties selected.

Rent Collected

Column totals are listed as the sum of the detail for all properties selected.

Procedure

To Display the Rent Summary Report

Additional Information