Page 11 - Eagle Landing Academic Year 2021-22 Quarter 2

Eagle Landing

Budget Comparison Report
Managed by RISE Residential
As of January 31, 2022

Prior MTD Prior YTD Current
Month to Date 01/31/2022 01/31/2021 Year to Date 01/31/2022 01/31/2021 Fiscal Year
Actual Budget Variance Actual Variance Actual Budget Variance Actual Variance Budget
REVENUE

RENTAL INCOME
626,376 626,376 0 604,800 21,576 5120 - Gross Potential Rent (GPR) 3,667,624 3,758,256 (90,632) 3,628,800 38,824 7,516,512
(48,238) (47,200) (1,038) (20,906) (27,332) 5125 - Gain/Loss to Lease (174,036) (283,200) 109,164 (137,539) (36,497) (566,400)
578,138 579,176 (1,038) 583,894 (5,756) GROSS RENTAL INCOME 3,493,588 3,475,056 18,532 3,491,261 2,327 6,950,112
COST OF LEASING
(1,354) (12,315) 10,961 (8,274) 6,920 5220 - Rent Loss-Vacancy (1,569) (73,890) 72,321 (40,416) 38,847 (147,780)
(2,720) (2,720) 0 (2,720) 0 5221 - Rent Loss-Model (16,320) (16,320) 0 (16,320) 0 (32,640)
(1,480) (1,480) 0 (1,480) 0 5222 - Rent Loss-Security (8,880) (8,880) 0 (8,820) (60) (17,760)
(2,142) (3,562) 1,420 (1,668) (474) 5223 - Employee Units (12,714) (21,372) 8,658 (9,408) (3,306) (42,744)
0 0 0 0 0 5250 - Concessions 0 0 0 (2,330) 2,330 0
0 (2,891) 2,891 (797) 797 5255 - Bad Debt Expense 740 (13,086) 13,826 (4,660) 5,399 (14,959)
(7,696) (22,968) 15,272 (14,939) 7,243 TOTAL COST OF LEASING (38,743) (133,548) 94,805 (81,954) 43,210 (255,883)
570,442 556,208 14,234 568,955 1,487 NET RENTAL INCOME 3,454,845 3,341,508 113,337 3,409,307 45,537 6,694,229

OTHER INCOME
1,110 1,410 (300) 1,860 (750) 5920 - Late Charge Income 4,920 7,440 (2,520) 2,790 2,130 15,900
150 150 0 450 (300) 5924 - NSF Check Fee Income 950 900 50 1,250 (300) 1,800
11,300 7,875 3,425 4,725 6,575 5926 - Administrative Fee 39,900 22,925 16,975 11,900 28,000 64,050
0 0 0 (401) 402 5927 - Resident Insurance Program 0 0 0 (401) 402 0
(843) 0 (843) 0 (843) 5930 - Resident Damages 2,489 1,765 724 2,668 (179) 1,765
0 0 0 0 0 5932 - Cleaning Fee 3,166 0 3,166 1,069 2,097 0
0 0 0 0 0 5937 - Month to Month Fees 0 0 0 1,125 (1,125) 0
0 0 0 357 (357) 5940 - Security Deposit Forfeitures 0 2,000 (2,000) 1,015 (1,015) 2,000
0 0 0 0 0 5950 - Lease Termination Fees 1,897 0 1,897 0 1,898 0
75 0 75 2,025 (1,950) 5951 - Application Fees 75 0 75 5,025 (4,950) 0
750 300 450 150 600 5952 - Onetime Pet Fee Income 2,850 1,800 1,050 1,350 1,500 3,600
0 100 (100) 0 0 5953 - Fines 200 600 (400) 200 0 1,200
155 200 (45) 55 100 5954 - Replmnt Keys/Cards/Lock Outs 935 1,090 (155) 454 481 2,290
39,984 37,770 2,214 14,034 25,949 5956 - Utility Income 254,469 208,163 46,306 203,256 51,213 434,783
0 500 (500) 1,750 (1,750) 5957 - Transfer Fees 250 2,750 (2,500) 2,250 (2,000) 5,750

Page 5