Leased Property Turnover Sheet

What is the best way to evaluate the profits and losses from a leased property?

The property that has been leased should be able to give some profit. Otherwise there is no use investing so much on the property. The property can only give you benefits if it is maintained in a good condition. If the property is not maintained properly there are chances that the revenue generated by the property go down steeply and may even lead to losses. So it is imperative to maintain a property whether it is a residential property or a commercial one.

The problem that is faced by many is that the maintenance and revenue generation is not in accordance with what is expected. Many a time the revenue generated by the property remains lower than the cost incurred by it on maintenance. This kind of property is suffering a loss while the property that is able to generate more revenue than the maintenance it requires is definitely the one going in profit. To know about the revenue and the maintenance charges as well the ratio of these two one must maintain a leased property turnover sheet. This is a document that enlists all the works of maintenance that were done on the property along with the cost of individual works. This is summed up to bring out the total expenses.  Also the revenue generated is noted down and then the ratio of these two values gives you the idea of profit or loss.

A leased property turnover sheet may indicate which property to keep and which one to sell off if one intends to choose between the two.

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Sample Template Preview

THE PINNACLE GROUP LLC

PROPERTY TURNOVER SHEET

ADDRESS:_______________________________________  ZIP_________   KEY MAP_____

PROJECT ACQUISITION/START DATE:____________________   COMPLETED/DATE

Turn on Electric (Phone : _________________)            ___________________
Turn on Gas (Phone : ______________________) —         ___________________
Is there a water meter? Turn on water                   ___________________
Install Lockbox                                         ___________________
Replace Roof?  Y____  N____ If yes, measure             ___________________
Paint – Complete or Touch Up                            ___________________
Garage Doors – OK, Repair or Replace: size__________    ___________________
Carpet – Replace or Clean                               ___________________
Trash Removal                                           ___________________
General Cleaning – Rehab or Turnover                    ___________________
Exterminate                                             ___________________
Yard                                                    ___________________
Re-key locks                                            ___________________
Security Devices Required:                          ___________________
Drop Bolts:____  Slider Pins:____  Peep Holes:____
Window latches:____  Keyless Dead bolts:____
Slider handle/bar:____  Smoke Detectors needed:#____
Batteries Replaced: #_____
Yard Sign                                               ___________________
Flyers                                                  ___________________
Street Signs                                            ___________________
Newspaper Ads                                           ___________________
Other:__________________________________________
__________________________________________

NOTES:_____________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

PROJECT SUBSTANTIAL COMPLETION DATE:                    ___________________