Page 245 - Trump University Commercial Real Estate 101

Use a Time Multiplier

What you really need is a dashboard that gives you all the informa-
tion necessary to navigate to your profit destination. I call it the Monday

Morning Report , because that ’ s when you will see it every week. It can
be just one page for each property and it includes:

• Property name.
• Total number of units or square feet.
• Number of units or square feet not currently producing rent,
for whatever reason. This may be space that is used for storage,

leasing office, and so on.
• Number of units or square feet available for rent.
• Total number of units or square feet occupied last week, con-
verted to a percentage.
• Move - ins for the week.
• Move - outs for the week.
• Evictions during the week.
• Total number of currently occupied units. This gives you a quick
look to see if your occupancy since last week has gone up, down,
or sideways.
• Number of notices 30 days out. These are tenants who have
given notice that they will be leaving within the next 30 days.
• Number of notices 30 to 60 days out. The same as above, but
further into the future.
• Total number of units or square feet preleased, that is, tenants
moving in within the next 30 days.
• Occupancy projection for the next 30 days.
• Occupancy for the next 60 days. This gives you a great opportu-
nity to change any downward trends before they happen. If you
know that occupancy will drop 60 days from now, you have
60 days to correct the problem. The dashboard allows you to
look into the future and make necessary changes today.
• Number of work orders submitted.
• Number of work orders completed. If the property is getting
backed up on work orders, something needs to change. Perhaps

225

10/14/08 11:28:30 AM
c11.indd 225 10/14/08 11:28:30 AM
c11.indd 225