2006 survey of income and expenses in rental apartment communities definitions/instructions.Please complete one survey form for each property your firm owns or manages. Each property reported must have a minimum of 50 units. All properties reported must be stabilized sta·bi·lize v. sta·bi·lized, sta·bi·liz·ing, sta·bi·liz·es v.tr. 1. To make stable or steadfast. 2. (i.e., no major occupancy disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. due to renovations, initial lease up). The Survey Form has five parts: A. Property Information--Questions 1-19; B. Operating Revenue--Questions 20-25; C. Operating Expenses--Questions 26-35; D. Capital Expenditures--Question 36; and E. Employees--Question 37. Note: For the questionnaire to be valid for this survey, all questions must be answered. Each firm is assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. a unique six-digit confidential code. The code will be used to contact the key person in the firm to whom the survey was mailed if there is some question concerning the information and data submitted on the forms. If you require any clarification concerning the instructions or definitions, please contact Robert Sheehan, NAA NAA Nomina Anatomica Avium. Consulting Economist, at 703/491-7377, or by e-mail at rjscmc@comcast.net or Roland Freeman Freeman can mean:
A. PROPERTY INFORMATION 1. Property Name--Name of property used for marketing purposes. 2. Street Address--Street address of property (do not use P.O. Box numbers or the mailing address of property manager/owner). 3. City/Metropolitan Area--City in which property is located. 4. State/Province--State/Province in which the property is located. 5. ZIP/Postal Code--Accurate ZIP/postal code of property. 6. Year Property Built--Year of completion of original construction (approximate if necessary). 7. Year of Renovation--Year of completion of last renovation. 8. Number of Units--Total number of all potential apartment units on property, include models and staff units. 9. Net Rentable Residential Square Feet--Total rentable square feet of floor space in residential units only. Area reported should include only finished space inside four perimeter walls perimeter wall n → mur m d'enceinte perimeter wall n → muro di cinta of each unit. Common areas should be excluded. 10. Net Commercial Square Footage--Total rentable square feet of commercial floor space. 11. Staff Training--Staff training budget for each apartment community. This includes: registration and travel expense for apartment industry and other technical courses, workshops, conferences or online education programs. 12. Building Type--Indicate type of building(s) on property. 13. Management Co./Owner--Property management company or owner. 14. Turnover--Number of apartments in which residents have moved out of property over 12-month reporting period. 15a. Utility Configuration--Check whether electric, gas, oil and water/sewer utilities to individual units are: Master Metered-Owner Pays; Master Metered-Resident Pays (RUBS RUBS Ratio Utility Billing System RUBS Resident Utility Billing System ); Individual and Sub Metered-Resident Pays. 15b. Heating/Cooling Fuel--Type of fuel used in apartment units. 16. Reporting Period--Check whether the reporting period ends December 2005 or identify the end of the latest 12-month fiscal year period. 17. Subsidized sub·si·dize tr.v. sub·si·dized, sub·si·diz·ing, sub·si·diz·es 1. To assist or support with a subsidy. 2. To secure the assistance of by granting a subsidy. Property--Check YES if this property has controlled rents through a government subsidized program. Check NO otherwise. Note: Check NO if property has Section 8 voucher A receipt or release which provides evidence of payment or other discharge of a debt, often for purposes of reimbursement, or attests to the accuracy of the accounts. residents since market rents are charged. If you answer YES, please identify the program (i.e. Section 236, Section 8). 18. Tax Exempt Bond or Housing Credit Property--Cheek if this property received tax exempt bond financing and/or is a low income tax credit property 19. Rent Controlled Property--Check YES if this property is subject to rent controls through local or state government regulations. Do not check YES if the rents are controlled through a government program that provides direct subsidies. B. OPERATING REVENUES operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. 20. Gross Potential Rent (a) Residential--Total rents of all occupied units at 2005 lease rates and all vacant units at 2005 street/market rents (or fiscal year end). (b) Commercial--Total potential rents for all commercial space if area would have been 100 percent occupied. 21. Total Rent Collected (a) Residential--Total rent collections for residential units after vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. , administrative, bad debt and discount or concession losses. (b) Commercial--Total rent collections for commercial space after vacancy, administrative, bad debt and discount or concession losses. 22. Other Revenue--Total collections from laundry Laundry can be:
Before industrialization , vending, cable, deposit forfeitures, furniture, parking, amenity a·men·i·ty n. pl. a·men·i·ties 1. The quality of being pleasant or attractive; agreeableness. 2. Something that contributes to physical or material comfort. 3. charges, etc. Do not include interest income. Note: Do not include utility reimbursements (i.e. RUBS) in gross potential rent or rental revenue. All utility reimbursements are subtracted from gross utility expense. Residential Units Revenue Losses 23. Losses to Vacancies--Annual rental income Noun 1. rental income - income received from rental properties income - the financial gain (earned or unearned) accruing over a given period of time for residential units not collected due to vacancies, and other use of units such as models and offices. 24. Losses to Collections--Amount of residential rents not received due to collection losses. 25. Losses to Concessions--Amount of gross potential residential rents not received due to concessions. C. OPERATING EXPENSE Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. 26. Salary and Personnel Costs--Gross salaries and wages paid to employees onsite., Include value of employee apartment allowances, payroll taxes Payroll Tax Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. , group health/life insurance, workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. , bonuses and lease commissions, employer 401(k) and/or retirement contributions and other cash benefits. 27. Insurance--Property hazard and liability and real property insurance. Do not include payroll insurance. 28. Taxes--Total real estate and personal property taxes only. Do not include payroll or rendering See render. (graphics, text) rendering - The conversion of a high-level object-based description into a graphical image for display. For example, ray-tracing takes a mathematical model of a three-dimensional object or scene and converts it into a bitmap image. fees related to property taxes. 29. Utilities--Total cost of all utilities and each listed type, net of any income reimbursements from residents (i.e., RUBS or similar systems). If applicable, report trash removal services under contract services. 30. Management Fees--Total fees paid to managing agent from owner. 31. Administrative--Total office expenses (i.e., telephone, computers, forms, office rental, furniture). 32. Marketing--Total media advertising, collateral materials, locator fees, model expense, promotions, etc. 33. Contract Services--Total landscape maintenance, exterminating, trash removal, security, snow removal, etc., typically provided on contract basis. 34. Repair and Maintenance--Total of all general maintenance and repairs, cleaning, decorating, painting, plumbing plumbing, piping systems inside buildings for water supply and sewage. The Romans had a highly developed plumbing system; water was brought to Rome by aqueducts and distributed to homes in lead pipes—hence the name plumbing from the Latin word plumbum , electrical, HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free , turnover, etc. Do not include non-recurring capital expense. 35. Total Operating Expenses--Sum of Lines 26 through 34 must balance with this line (using total net utility expenses only). D. CAPITAL EXPENIDITURES 36. Capital Expenditures--Include for non-recurring capital expenditures for reporting period only. Improvements not included as an expense item in operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. (i.e. renovations, appliance replacements, etc.). Place a zero on the line if there were no capital expenditures. E, Employees 37. Number of Employees--Record the number of employees of the management/owner firm engaged in the management of this property. Please return completed surveys by February 24, 2006, to National Apartment Association, 201 N. Union Street, #200, Alexandria, VA 22314 * Fax to 703/518-6191 * rjscmc@comcast.net 2006 Survey of Income and Expenses in Rental Apartment Communities Survey The National Apartment Association annual Survey of Income and Expenses in Rental Apartment Communities gathers important industry statistics that are valuable to participating finns and other companies related to the rental apartment industry. By completing this form and sending it in with completed surveys, participants will receive a free copy of the survey report on CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). . Please complete a separate survey form for each stable market rent and subsidized property with 50 or more units that your firm manages and/or owns. (Stable is defined as a property that had at least completed its initial occupancy phase at the start of the reporting period and did not experience occupancy disruption during the reporting period for reasons such as renovations, fire, etc.) You may also complete this information on NAA's secure Web site, www.naahq.org/05ies, or contact Robert Sheehan (rjscmc@comcast.net) for a format to submit data electronically. Individual responses are strictly confidential. The report contains only summary data for metropolitan areas and regions. A confidential code protects the privacy of individual property financial data. NAA uses the code to identify persons who will receive copies of the report, or need to be contacted should a survey response produce some question or be incomplete. You can find this code number in the upper right hand corner on your UNITS magazine address label--directly across from your name/company. If you do not know your code number, you can call NAA (703/518-6141) to be assigned a number. Enter that number below in the space designated for NAA ID#. To ensure uniform reporting, please refer to the 2006 Income & Expense Survey Definitions/Instructions. Please complete the following to ensure that you will receive your complimentary CD-ROM copy of the 2006 Survey of Income and Expenses in Rental Apartment Communities. Publication is expected in Summer 2006. |
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