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Detail incomes

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This window allows you to add all the available information about the income generated by the property. You can also detail any income related to the property: garage, laundry, or any other income generating service you offer for your property.
  1. Rental Income According to Leases
    2. If you've taken the time to detail every lease of the property, this option will automatically calculate the property's income. The software will regroup the income based on the number of rooms indicated.
  2. Income
    3.  You can choose to add the income generated by the property either on a monthtly or yearly basis.

  3. Detailed Income
    4.  If Detailed Income is checked, you will be able add any other income generating services included in the property.
  4. Delete an Income
    5.  You can delete an income by clicking on the red X at the end of the chosen row.
  5. Loss of Income
    6.  To insure obtaining an accurate analysis, we recommend entering the data for the Vacancy Rate and Bad Debt. Even if the building is fully rented, this gives you some leeway to insure the financial institution's approval for the loan.
    You can either enter a fixed amount for Vacancy Rate and Bad Debt, or add a percentage of the Potential Gross Income. Also, the Vacancy Rate can be set automatically according to your region.
  6. Income Loss - Automatic Calculation
    7.  If you check According to Leases, the software will automatically calculate the current vacancy rate situation. Of course, you will have to specify which apartment is vacant in the Lease window.
  7. Vacancy Rate
    8.  For the time being, the software can automatically generated the Vacancy rates for the various regions of the province of Quebec. This is something that will be eventually adjusted so it includes other Canadian Provinces and various states of the USA.
  8. Calculate Total Incomes
    9.  To obtain the Potential and Effective Gross Income, simply click on the calculator at bottom of the page. The Potential Gross Income represents the yearly revenue of the property if it's rented at 100% and there are no bad debt. On the other hand, the Effective Gross Income represents the amount generated by the property whilst taking into account the losses caused by the Vacancy Rate and Bad Debt.
  9. Save
    10.  Click on Save to save your new information. If you click on the arrow, the data will be automatically saved and you will be moved to the next window.
Mots clés::  garage ,  generate ,  income ,  Laundry ,  service