REPORTING TO THE OWNER
- A report is a recap of events. The purpose of a report is to portray past events accurately in an accessible format that communicates information readily to persons inside and outside the organization. Financial repost capture information about the income, expenditures, assets, and liabilities of property. Accurate information is the foundation of decision making, and reports to the owner should be comprehensive and accurate. The month (cash budgets) or the year (annual operating budgets). Comparing several budgets highlights trends at a property. Likewise, rent rolls, delinquency reports, and vacancy reports reflect continuing financial activity and are crucial parts of any report. The accumulation of all this information of all this information through reports adds up to a comprehensive picture of a property’s financial health. Normally, the report to the owner includes a narrative portion with a summary and a discussion of the extent to which the owner’s goals and objectives for the period have been achieved. The narrative should appear as the first page of the report or in a cover letter. The report r=to the owner is usually accompanied by a rent roll that provides details of lease arrangements with all residents to date as well as vacancies. Vacancy reports and delinquency reports clarify the information in the rent roll.
- The following reports must be updated and distributed to ownership periodically as often as monthly.