A 12-month rental income statement template is a financial document that summarizes all of the income and expenses associated with a rental property over a period of 12 months. This information can be used to track the performance of the property and make informed decisions about future investments.
There are many different types of 12-month rental income statement templates available, but they all typically include the following information:
Income
The income section of the statement includes all of the money that has been received from the rental property over the past 12 months. This may include rent payments, security deposits, late fees, and other charges.
It is important to track all of the income that has been received from the property, as this information will be used to calculate the property’s net operating income.
Some of the common income streams in rental properties include base rent, security deposit, utilities reimbursement, late fees, parking fees, pet fees, laundry income, and vending machine income.
Expenses
The expenses section of the statement includes all of the costs that have been incurred in connection with the rental property over the past 12 months. This may include mortgage payments, property taxes, insurance, repairs, and maintenance.
It is important to track all of the expenses that have been incurred in connection with the property, as this information will be used to calculate the property’s net operating income.
Some of the common expense categories in rental properties include mortgage, property taxes, insurance, maintenance and repairs, utilities, property management, and marketing.
Net Operating Income
The net operating income (NOI) is the difference between the property’s income and expenses. The NOI is a key financial metric that is used to evaluate the performance of a rental property.
A high NOI indicates that the property is generating a healthy profit, while a low NOI indicates that the property is not performing as well as it could be.
The NOI can be used to make informed decisions about future investments, such as whether or not to purchase additional properties or sell existing ones.
Conclusion
A 12-month rental income statement template is a valuable tool for tracking the performance of a rental property. This information can be used to make informed decisions about future investments and ensure that the property is generating a healthy profit.
If you are considering investing in a rental property, it is important to create a 12-month rental income statement template to track the property’s performance. This information will help you make informed decisions and ensure that your investment is successful.
