Hotel Income & Expense Survey Landing Page.
Please use the following income and expense categories in completing your income-expense survey.
Potential Gross Income: Rent which could have been collected for rentable space, commercial area, etc., if property were at 100% occupancy. Please exclude Reimbursed Expenses from the Potential Gross Income and Actual Rent Collected figures.
Reimbursements: Additional income beyond base rent for Reimbursed (Pass-through) Expenses, such as Management Fees, Real Estate Taxes, Insurance, Utilities or Common Area Maintenance charges.
Other Income: Income from all other sources EXCEPT REIMBURSEMENT & GARAGE/PARKING, including application fees, late fees, short term lease premiums, percentage income, etc. Please exclude Interest Income.
Management Fee: Agency fee paid by Owner to a management company to oversee day-to-day operation of property. This is typically based on a percentage of collected rent.
Common Area Maintenance (CAM): Expenses associated with the general upkeep of shared areas of the parking lot and building for multiple tenant buildings, such as snow removal, upkeep of the lighting, landscaping and trash.
General & Administrative: This expense category includes professional fees and other administrative fees associated with the administrative work on the property. These items include: general office supplies, telephone, postage/shipping/travel, legal fees, other professional and administrative fees.
Insurance: The property’s insurance needs for fire and liability policies. Exclusive of life, personal property, or auto policy premiums.
Janitorial: The property’s contract cleaning services and cleaning supplies—typically applies to office buildings.
Maintenance & Repairs: This expense category is inclusive of all non-capital expense items related to the general upkeep of the property, such as the repairs and maintenance of: electrical, structure/roof, HVAC, plumbing, related supplies, interior repairs/maintenance, unit turnover, pest control, security/safety, and fire protection. Please exclude expenses that involve the replacement of short-lived items such as the roof (replacement versus repair).
Replacement Reserves: This replacement allowance or reserve for such properties to handle the replacement of short-lived items (interior finishes, HVAC systems, appliances, etc) that wear faster than the long-lived items (structure, foundation, pipes, electric wiring, HVAC ducts, etc). This item reflects money the owner saves for future replacement of a short-lived item and is sometimes required by a lender on a commercial property loan.
Capital Expense Items: These items are expenses that do not typically occur on an annual basis, such as utilities or insurance. Examples: Roof Replacement, Building Addition, Parking Lot Replacement, Air-Conditioner Condenser Replacement, etc.
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