Page 246 - Trump University Commercial Real Estate 101

TRUMP UNIVERSITY COMMERCIAL REAL ESTATE 101

you must hire extra help to get caught up. A growing number
here will result in growing vacancies later.

• Total traffic. The total number of potential tenants who con-
tacted the office, inquiring about a rental.

• Total applicants. Number of inquiries that were converted into
applications.
• Total number approved: tenants who were screened, with results
that were favorable, and were offered a lease.
• Gross potential rent. Amount the property could collect at 100
percent occupancy.
• Billed rent. Amount actually billed for the month.
• Collected. Month - to - date collections.
• Delinquent. Total amount of rent outstanding.

With this dashboard you can see the health of your property at a
glance. Look for trends each week. Take early action to keep your cash
flow healthy and your property appreciating. If your manager does not

agree to weekly reporting, or does not deliver it, get another company.
It means that they are disorganized and will not be able to anticipate
trouble before it arises.
You should get other reports on a monthly basis, such as rent roll.
It will list the tenants, what they are paying, how much rent is billable,
and which tenants are more than 30 days behind.
Also get a copy of the check register showing who was paid what
during the month. Review an accounts payable report so that you
know who is owed what for work that was completed during the
month. Insist on this monthly report and constantly ask the manage-
ment company if the report is up-to-date and accurate.
In fact, make these accuracy requests in writing. Why? Because
management companies sometimes underreport accounts payable.
When the time comes for a sale or change in management companies,
the owner can be shocked to discover the true — and much higher —

amount of accounts payable. It ’ s more difficult for weasels to explain
away a trail of written statements that they made.

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