Operating Expenses: Per-Unit, Fixed & % Lines, Expense Ratio and NOI Uplift
This lesson is part of the course
In this lesson
You turn a fictional expense budget with three kinds of lines – per unit, fixed and % of income – into USD per year before and after the plan, compare the expense ratios and work out the NOI uplift.
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Lessons in this course
- Unit Mix & In-Place Rents: The Rent Roll and the Gap to Market Locked
- Renovation Scope: Cost per Unit, Rent Premium & Return on Cost Locked
- The Turn Schedule: Lease Ends, Downtime & Units per Month Locked
- Lease-Up of Renovated Units: Rent Uplift, Vacancy During Works & EGI by Month Locked
- Operating Expenses: Per-Unit, Fixed & % Lines, Expense Ratio and NOI Uplift Locked
- Value Creation: NOI ÷ Cap Rate, Yield on Cost & Value Added Locked
- The Refinance: LTV and DSCR Limits, Cash Returned & Equity Left In Locked
- Hold-Period Returns: IRR, Equity Multiple, Sensitivity & the Cash Flow Chart Locked