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MULTIFAMILY MODELOPERATING STATEMENT NOTES
from Airport Villas
by aiden.davis
Notes To Operating Statement
[1] Airport Villas is historically operates at 98% occupancy. Vacancy is based on 3% of the Gross Scheduled Rent in both current and proforma.
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[2] Laundry income is based on $120 per unit per year.
[3] 2021 Property taxes are $200,499, proforma taxes are assuming an 80% reassessment, times the 2021 millage rate minus a 4% early payment.
[4] The insurance figure is from the 2022 P&L.
[5] The electric figure is from the 2022 P&L annualized.
[6] The Water/Sewer figure is from the 2022 P&L annualized.
[7] The cable, phone & Internet figure is from the 2022 P&L annualized.
[8] The trash removal figure is from the 2022 P&L annualized.
[9] Repairs and maintenance is assumed at $500 per unit per year.
[10] The landscaping figure is from the 2022 P&L annualized.
[11] The pest control figure is from the 202 2 P&L annualized.
[12] Payroll is assumed to be $800/unit per year.
[13] The elevator service figure is from the 2022 P&L annualized.
[14] The pool service figure is from the 2022 P&L annualized.
[15] Reserves is assumed at $250 per unit per year.
[16] Management fee is calculated at 3.5%.
