Monthly Reports to Owners
A summary of all operations is sent to owners monthly via email and / or via regular mail. The monthly report to owners generally includes the following:
Executive summary of store operations:
- Net gains/loss in physical occupancy
- Overall actual billing revenue increase/decrease
- Current economic occupancy
- Overview of pertinent market, store or operational conditions
Administrative report:
- QuickBooks Reports including:
- Statement of Cash Flows
- Monthly Balance Sheet
- Explanation of unique accounts payable
- Overview of new or renewing advertising or other contracts
- Payroll and required reporting
Field report from Area Manager:
- Summary of Facility Review completed during bi-monthly site visits
- Report of ongoing manager education / training
- Overview of store operations, personnel, policies and procedures
- Property condition and maintenance needs
- Significant market conditions
Monthly Site Summary
Provided by individual store property management software, this report addresses overall store statistics and reflects comprehensive monthly data regarding deposits, credits, charges, sales, liabilities, accounts receivable, billings, etc.
Monthly Distributions to Owners
A general analysis of profitability will be projected and agreed upon between owner and the management company as part of the initial management contract. The following items will be predetermined and will be reassessed periodically as needed:
- Availability and amount of monthly owner distributions
- Method of distribution (check, wire or automatic deposit)
- Required maintenance reserves