Monthly Rental Property Report
Prepared by: [Your Name]
Company: [Your Company Name]
Date: [Date]
I. Executive Summary
The Monthly Rental Property Report for September 2053 provides a thorough review of the property’s performance over the last month. This report encompasses various aspects of property management, including financial performance, occupancy statistics, maintenance activities, and tenant relations. The intent is to provide property owners with a clear and concise analysis of their property's current status and offer actionable recommendations for future improvement.
II. Financial Overview
A. Rental Income
The total rental income for September 2053 amounted to $25,000. This figure represents a 5% increase from the previous month due to the occupation of two vacant units. The rent of each unit is $1,250.
Category | Amount ($) |
|---|
Total Rental Income | 25,000 |
Previous Month Income | 23,750 |
Increased Income | 1,250 |
B. Expenses
Expenses for the month included routine maintenance, utility costs, and management fees, totaling $8,500. This reflects a 10% decrease compared to August 2053.
Category | Amount ($) |
|---|
Maintenance | 3,000 |
Utilities | 2,500 |
Management Fees | 3,000 |
C. Net Income
The property’s net income for September 2053 was $16,500, marking a notable improvement over the previous month.
III. Occupancy Rates
Occupancy rates reached 95%, with 19 of 20 units occupied. This is a significant improvement compared to the 90% occupancy rate in August 2053. The increase is primarily due to successful marketing campaigns and streamlined tenant onboarding processes.
IV. Maintenance and Repairs
Maintenance activities were dominated by routine inspections and minor repairs. A major plumbing repair, costing $1,200, was completed successfully to address a leak in one of the units.
Routine inspections: Completed with no major findings
Plumbing repair: $1,200-fixed leak in Unit 5
Lighting upgrades in common areas: $500
V. Tenant Issues
A. Complaints
Three minor complaints were recorded, involving noise disturbances and parking allocation issues. All complaints have been addressed or are in the process of resolution.
B. Evictions
There were no evictions in September 2053, which reflects the high level of satisfaction and prompt communication with tenants.
VI. Recommendations
To further improve the financial performance and tenant satisfaction:
Consider enhancing tenant retention strategies by offering small incentives for lease renewals.
Continue to optimize marketing and outreach efforts to increase occupancy rates further.
Conduct a winter readiness inspection for the property to preempt any weather-related issues.
Implement a digital feedback system that allows tenants to submit maintenance requests or provide feedback more efficiently.
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