A structured document designed to organize and compute revenue generated from leased properties after deducting applicable expenses. For example, it typically includes sections to record gross rental receipts, vacancy losses, operating costs (such as property taxes, insurance, and maintenance), and depreciation, ultimately arriving at a net figure.
This document is crucial for property owners and managers to accurately track financial performance and ensure compliance with tax regulations. Its consistent application enables informed decision-making related to property improvements, rent adjustments, and overall investment strategies. Historically, these were manually constructed ledgers; now, digital templates and specialized software streamline the process and improve accuracy.