SDDS Wiring-Guide

Income generated by the operation of the asset, independent of external factors such as financing and income taxes. It is calculated as quarterly gross income less operating expenses. Gross income includes both rental income and other income such as parking fees, laundry and vending receipts, variable rent, etc. Operating expenses are costs incurred during the operation and maintenance of a property. They include repairs and maintenance, non-recoverable expenditures, letting costs, rent review feeds, as well as insurance, property management fees(excl. asset management fee), utilities, supplies, property taxes, bed debt write offs,  etc. The following are not operating expenses: principal and interest, capital expenditures, depreciation, income taxes, and amortization of loan points