I generate and distribute rent invoices for my tenants on the 16th of the month. Most of them have annual rent increases on January 1st.
Most of the increases are tied to the Consumer Price Index, so on December 16th I wait for the Bureau of Labor Statistics e-mail with the November numbers, and then:
a) calculate the rent increase for each tenant whose increase is both tied to CPI and occurs on January 1;
b) enter the latest bills from contractors and serves, updated the end-of-year reconciliation;
c) calculate the increase in common area maintenance (CAM), and increase the tenant's CAM charges accordingly;
d) enter the modified numbers into the financial software & generate January invoices, remembering to save the changes so I don't have to do it again, next month;
e) Enter the increases on the rent roll, tenant lease abstract, and rental income projections for the next 12 months;
f) put stamps on the invoices which go out of town & mail them.
I'm probably a bit slower at this sort of thing than a bookkeeper would be, because I try to avoid working with numbers and formulas whenever I can. I've automated as many of the calculation within the spreadsheets as I can, and double-check my work with a calculator.
Now it's lunch time, but no more spreadsheets today.
2 comments:
now you're just waiting for the complaining to begin...
Matt, that's why he waited until Friday! ;-)
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