A Good Report Shouldn’t Leave You With More Questions
If you partner with a third-party property management firm, chances are you’re receiving a financial report every month. At least I hope so! But how often are those reports actually telling you something useful? A report that’s late, buries the numbers you care about, or requires a follow-up call to understand isn’t just inconvenient. It’s a reflection of how your asset is being managed.
If I’m on the receiving end, here’s what I’m looking for from my property manager:
- Financials delivered on time, with a clear summary of income, expenses, and key variances as soon as the period closes. No chasing anyone down, just information I can act on.
- Budget vs. actual, side-by-side. I want to know exactly where my asset is performing and where it’s falling short. Visibility means catching problems early, not months later.
- Accurate CAM and operating expense detail that is documented and ready to hold up if a tenant questions a charge.
- A clear picture of where capital projects stand. If deferred maintenance is off track, I want to know why before costs quietly get away from me.
- Maintenance and vendor spending tied to something meaningful: what work was done, for which tenants, and how it serves the property. Not just a line item.
- A report I can actually read. The numbers should do the explaining.
As an owner, clear financial visibility leads to better decisions. Without it, you’re losing NOI.
Your reports should be working for you. If they aren’t, that’s worth a conversation.
Written by Heather Lambert
SVN | The Equity Group
