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FINANCIAL SUMMARY<br />
Operating Statement 2019-2020<br />
2020 2019<br />
Operating Income & Expense<br />
Income<br />
Rent $ 458,661.83 $ 509,061.21<br />
Early Termination Charge $ 10,980.00 $ 1,387.50<br />
Laundry Income $ 2,199.79 $ 2,590.03<br />
Late Fee $ 1,179.00 $ 1,991.00<br />
NSF Fees $ 105.00 $ 35.00<br />
Application Fees $ 1,125.00 $ 860.00<br />
Total Operating Income $ 474,250.62 $ 515,924.74<br />
Expense<br />
Cleaning/Maintenance $ 23,308.63 $ 34,918.74<br />
Prof Fees - Legal & Acctng $ 4,645.50 $ 565.00<br />
Insurance $ 5,235.85 $ 4,060.00<br />
Property Tax $ 29,358.52 $ 27,637.60<br />
Utilities $ 11,025.60 $ 10,214.41<br />
Utilities - WATER $ 16,313.46 $ 22,830.31<br />
Appliances $ 1,120.36 $ -<br />
Property Management* $ 22,933.09 $ 25,453.06<br />
Total Expense $ 113,941.01 $ 125,679.12<br />
Net Income $ 360,309.61 $ 390,245.62<br />
*Not based on actual, based on market rate management of 5% of rents