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Download this Income and Expense Report Form that is designed to assist in collecting all required information regarding income, property and income from rental property owned by a corporation and/or individual. Gather all appropriate documents  and complete the forms. If you aren’t confident that this is something that you can complete correctly it could be in your best interest to contact an accountant and provide them with all of the appropriate documentation to complete these forms for you.

How To Write

Step 1 – Section 1 – Annual Income and Expense Summary Page –

Begin by placing the appropriate dates at the top of the page “For the year beginning – and- ending” You would then continue by providing the following:

  • Owner – property name
  • Mailing address of the property
  • City/State/Zip
  • 1. Primary Use of Property – Circle one of the options
  • 2. Gross Building Area – include owner occupied space)
  • 3.Net Leasable Area
  • 4.Owner Occupied Area
  • 5.Number of Units
  • 6.Number of Parking Spaces
  • 7. Building Age (year that the building was built)
  • 8. Year(s) Remodeled

Step 2 – Section 2 –  Income –

  • 9. Apartment Rentals (attach schedule A)
  • 10. Office Rentals (attach Schedule B)
  • 11. Retail Rentals (attach schedule B)
  • 12. Mixed Rentals (attach schedule B)
  • 13.Shopping Center rentals (attach schedule B)
  • 14. Industrial Rentals (attach schedule B)
  • 15. Other Rentals (attach schedule B)
  • 16. Parking Rental
  • 17.Other Property Rental and Income
  • 18.Total Potential Income (add the sum of lines 9-17)
  • 19. Loss due to vacancy and credit
  • 20. Effective Annual Income( line 18 minus line 19)

Expenses

  • 21. Heat/AC
  • 22. Electricity
  • 23. Other Untilities
  • 24. Payroll (with the exception of  management, repair and decor)
  • 25. Supplies (janitorial etc.)
  • 26. Management
  • 27. Insurance
  • 28.Common area maintenance
  • 29. Maintenance and General Repair
  • 30.Leasing Fees/Commission/ Advetising
  • 31.Legal/Accounting
  • 32. Elevator Maintenance
  • 33. Tenant Improvement (specify)
  • 34. Other (specify)
  • 35. Other (specify)
  • 36. Other (specify)
  • 37. Security
  • 38. Total Expenses (lines 31-37)
  • 29. Operating Income
  • 40. Capital Expenditures
  • 41. Real Estate Taxes
  • 42. Mortgage Payments (P&I)

 

Step 3 – Section 3 – SIgnature-

You must read all of the information located that the bottom of the first form. If you understand and do agree, you must provide:

  • Signature
  • Name in printed form
  • Title
  • Phone and Fax Numbers

Step 4 – Section 4 – Verification of Purchase Price –

In this section there will be additional filing instructions. Be certain that what you are providing in this section will only pertain to sale information that has gone unreported in previous filings.

  • Total Purchase Price
  • Cash Down Payment
  • Date of Purchase
  • Date of Last Appraisal
  • Appraisal Firm
  • Appraised Value
  • 1st Mortgage-
  • Amount -
  • Interest Rate
  • Payment Schedule Term in years
  • Mortgage Type (fixed or variable- check one)
  • 2nd Mortgage
  • Amount -
  • Interest Rate
  • Payment Schedule Term in years
  • Mortgage Type (fixed or variable- check one)
  • Other
  • Amount -
  • Interest Rate
  • Payment Schedule Term in years
  • Mortgage Type (fixed or variable- check one)
  • Chattel Mortgages
  • Amount -
  • Interest Rate
  • Payment Schedule Term in years
  • Mortgage Type (fixed or variable- check one)

Did the purchase price include payment for:

  • Furniture and Equipment – if so declare the value
  • Goodwill – if so declare the value
  • Other –  if so declare the value

Was the sale between related parties?

  • Check one

What was the approximate percentage of vacancy at the time of purchase?

  • Specify the percentage

Has the property been listed for sale since your purchase?

  • Check yes or no
  • If yes, what was the asking price?
  • Listing Period
  • Listing Agency

Remarks –

  • In the lines provided  explain any special circumstances or considerations made during your purchase

 

Step 5 – Section 5 – Schedule A- Apartment Rent Schedule

  • Property address
  • ID – Code number

Building Features –

Check all that apply –

  • Efficiency
  • 1BR
  • 2BR
  • 3BR
  • 4BR
  • Other rentable units
  • Owner/Manager/Janitor Occupied
  • Sub tota
  • Garage/Parking
  • Other Income (specify)
  • Totals
  • Number of units
  • Total/Rented
  • Room Count
  • Rooms / Baths
  • Sqare feet  and monthly rent total
  • Lease Term- typical

Step 6 – Section 6 – Schedule B – Property Name and Address

Leasee Rent Schedule- Year____ through______ – Schedule B schedules are to include all rental activities other than apartment rentals – Complete all of the following columns-

  • Tenant Name
  • Location
  • Lease Term – beginning/ending – square feet
  • Annual Rent – Base – Esc/Cam Overage- Total- Total S.F.
  • Parking- number of spaces – annual rent
  • Option Provisions- Base Rent Increases
  • Interior Finish – Owner/Tenent – Cost

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