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Question | Answer |
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Form Name | Form Rpie |
Form Length | 24 pages |
Fillable? | No |
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Avg. time to fill out | 6 min |
Other names | rpie due date, rpie filing deadline 2021, rpie, rpie 2019 worksheet |
RPIE - 2020
WORKSHEET
Real Property
Income and Expense
Worksheet and Instructions
This is NOT the RPIE form.
This document is designed to as- sist you in completing all RPIE forms on our website.
nyc.gov/rpie
Revised 2.10.2021
2020 REAL PROPERTY INCOME AND EXPENSE WORKSHEET AND INSTRUCTIONS
FILING DEADLINE: JUNE 1, 2021
This is NOT the RPIE form. You MUST file all RPIE forms electronically. This form
is to be used for worksheet purposes only.
GENERAL INFORMATION
Please note that this worksheet and instructions do not apply to the following specialty property types: hotels, adult care/nursing home facilities, gas stations, car washes, oil change facilities,
Owners of
Even if your
RPIE EXCLUSIONS
How do you file a Claim of Exclusion?
To file a Claim of Exclusion, you must complete Section D of the
Please note: If you own the property but have no knowledge of the income and expenses for the entire calendar or fiscal year, you must file a Claim of Exclusion.
Who does not have to file an RPIE or Claim of Exclusion? Owners with:
●Properties that have an Actual Assessed Value of $40,000 or less.
●Residential properties containing 10 or fewer dwelling units.
●Tax class 1 or tax class 2 properties with six or fewer dwelling units and no more than one commercial unit.
●Special franchise properties.
IMPORTANT FILING INFORMATION
●Online Filing Requirement
●Deadline
CUSTOMER ASSISTANCE
Please call 311 or email Finance at rpie@finance.nyc.gov
Instructions for Worksheet |
Page 2 |
PART I: OWNER AND PROPERTY INFORMATION
Please check your mailing address for accuracy. Owners are responsible for maintaining a current mail- ing address with Finance at all times. You can see the mailing address on file by looking at your latest Notice of Property Value or Property Tax bill. Changes to your address can be made online at http://nyc.gov/changemailingaddress or by calling 311.
SECTION A – OWNER/FILER INFORMATION
1a. Enter name(s) of up to two owners of the property.
b./c. Enter each listed owner’s Employer Identification Number (EIN) or Social Security Number (SSN).
The Federal Privacy Act of 1974, as amended, requires the Department of Finance to inform you about whether compliance with the request is voluntary or mandatory, the legal authority to request the in- formation, and how the information will be used. Owners must provide their Social Security Number on this form under the authority of section
2a. Enter the name of the person filing the RPIE. The filer may be an owner, owner representative, lessee or lessee representative who is authorized to provide this information and has knowledge of such information.
b./c. Enter the filer’s Employer Identification Number or Social Security Number.
d.Use the dropdown box to select the filer’s relationship to the property.
SECTION B - CONTACT INFORMATION
Provide contact information for the person who can respond to questions about this filing and receive the confirmation email once the RPIE is submitted. Additional email addresses for the confirmation email can be entered on the Certification page.
SECTION C – CONSOLIDATED LOTS
(To access, first check box in Section A for consolidated lots)
Consolidated lot filings apply to two or more properties that meet the following criteria:
●Operate as a single economic unit
●Be located in the same borough
●Share the same ownership
●Have the same Tax Class
●All must be hotels if one is a hotel
●Be located on contiguous lots*
* Contiguous lots are those that share either an edge or boundary, are neighboring, adjacent, or ad- joining. This definition can include nearby lots within the same tax block or those separated by roads or paths.
Instructions for Worksheet |
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Please note that consolidated lot filings are not available for the following specialty property types: adult care/nursing home facilities, gas stations, car washes, oil change facilities,
If your properties meet all the above criteria and you want to submit a consolidated filing, allocate the properties’ income and expense using either square footage or number of units. Select allocations by a percentage of income to each lot only if square feet or number of units is inappropriate for al- locating your properties’ income and expense.
SECTION D - RPIE EXCLUSIONS
If you are identified as a required
Exclusions include:
a.Actual AV (Assessed Value) as shown on the Tentative Assessment Roll
b.The property is both exclusively residential and has 10 or fewer apartments, including both vacant and occupied units.
c.The property has both of the following: six or fewer residential units and no more than one com- mercial unit. Your property must be in Tax Class 1 or Tax Class 2 and the unit count must include all units whether vacant or occupied. For example, if your property has five residential and two commercial units, you must file an RPIE because you have two commercial units.
d.Residential cooperative apartment buildings with no more than 2,500 square feet of commercial space (not including garage space). To claim this exclusion you must still complete the
e.Individual residential units in a condominium building/development. For a residential condominium that has commercial space, professional space, and/or has 10% or more unsold
f.If the property is rented exclusively to a person or entity related to the owner:
●Business entities under common control
●Fiduciaries and the beneficiaries for whom they act
●Spouse, parents, children, siblings and parents
●
g.The entire property is
Instructions for Worksheet |
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h.The property is owned by a
i.The property is vacant or uninhabitable and has no existing leases. If there are any existing leases, the owner must file the RPIE.
j.“Vacant,
k.The owner has not operated the property and is does not know the income and expenses for the entire calendar or fiscal year of the reporting period.
If you claimed exclusion(s), but still want to file income and expense information with the Department of Finance, select “OK” at the
SECTION SF - Short Form
You have the option of completing a
PROPERTY USE, VACANCY AND INCOME INFORMATION
1.Commercial Income:
Units: Enter the number of commercial units.
Vacancy Percentage as of January 5, 2021 Indicate the percentage commercial space that was vacant (unoccupied and
PLEASE NOTE: If the sum of total owner and/or
Income ($ per year): Total the following categories of income and report under Commercial In- come:
a.Commercial Rental Tenants: Amount received for the following categories: office, store, re- tail tenants, restaurants, offices and any other leased commercial areas. Exclude residential rent and rent from tenants related to the property owner.
b.Sale of Utility Services: Gross amount received from the sale of utilities and services, such as electricity, gas, steam, water, air conditioning, and telecommunications. Do not deduct the landlord’s costs
Instructions for Worksheet |
Page 5 |
c.Sale of Other Services: Gross amount received for laundry, valet services, vending machines, etc.
d.Operating Escalation Income: Any additional rent received above the base rent, as provided in the lease, for
e.Real Estate Tax Escalation: Any additional rent received above the base rent, as provided in the lease, for
f.Storage.
g.Garage/parking.
h.Factory.
i.Warehouse.
j.Other income: Any income generated by the property that has not been previously specified; typical examples include common area maintenance income or common area rental charges.
Do not include interest on bank accounts or tenants’ deposits.
2.Residential Income:
Units: Enter the number of residential units.
Vacancy percentage as of January 5, 2021: Indicate the percentage residential space that was va- cant (unoccupied and
PLEASE NOTE: If the sum of total owner and/or
a.Residential Regulated Tenants: Amount received for regulated apartments. Regulated apart- ments are subject to rent control and/or rent stabilization. For more information, please con- tact the Rent Guidelines Board at www.nycrgb.org.
b.Residential Unregulated Tenants: Amount received for unregulated apartments.
c.Government Rent Subsidies: Portion of rent that comes from direct rent subsidies that are received, as well as any abatement of real estate taxes or
Instructions for Worksheet |
Page 6 |
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3.Cell Site Income:
Units: Enter the number of cell towers or antennae anywhere on the property.
Income: $ Amount received for placing a cell tower or antenna anywhere on the property.
4.Signage/Billboard Income:
Units: Enter the number of rented signs or billboards anywhere on the property.
Income: Dollar amount received for renting any signs or billboards anywhere on the property
PROPERTY OPERATING EXPENSES
Use this section to report operating expenses for your property. Allowable expenses include those as- sociated with providing services to tenants, property management and property administration. Enter the total expenses for 2020.
1.Utilities: Include total expenses for:
a.Fuel: Total for fuel oil, gas or steam, including gas provided to tenants.
b.Light and Power: Amount paid for electricity, including electricity provided to tenants. Do not include electricity consumed by the owner or other filer(s) for personal or business use.
c.Water and Sewer: Amount paid or incurred for water and sewer frontage or usage.
2.Other: Include total expenses for:
a.Cleaning Contracts: Include contracts with
b.Wages and Payroll: Include all wages, related payroll taxes and employee benefits for building maintenance employees who work at the property. Do not include salaries of employees who work in any
c.Repairs and Maintenance: Amounts paid or incurred for contracts with maintenance compa- nies. Include any amounts that were paid for routine repair services and for material or parts used for repairs. Do not include reserves for replacements.
d.Management and Administration: Amount paid or incurred for contracts with a management com- pany. Include office expenses and legal/accounting services related to the operation of the property.
e.Insurance (annual): Annual charges for fire, liability, and other insurance premiums paid to pro- tect the real property.
f.Advertising: Amount paid or incurred for advertising space available for rent.
g.Interior Painting and Decorating: Cost of contract services and materials for interior painting and interior decoration.
h.Miscellaneous: The miscellaneous field should be reserved for petty cash, lease
Instructions for Worksheet |
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Do not include real estate taxes, bad debt, depreciation or mortgage interest in Other expenses.
While these may be listed in this section, they are not eligible for valuing real estate for NYC property tax purposes. Also do not include amortized leasing costs or amortized tenant improvement costs. If you want to itemize these two costs, please use the
Total Expenses: Total expenses (the sum of lines 1 through 3).
SECTION E – PROPERTY USE AND VACANCY INFORMATION
1.Description:
d.Number of Buildings: Where the property consists of more than one building (such as a con- dominium development, a parking garage complex, an apartment complex, or a shopping center), enter the total number of buildings that comprise the entire property for which this RPIE form is being filed.
g.Year of Purchase: Provide the year the property was bought or leased, or, if the building was built for the current owner, list the date of construction. Not required if the property is a cooperative.
SECTION F - TO BE COMPLETED ONLY IF THE PROPERTY IS A COOPERATIVE OR CONDOMINIUM
For this section, information is required for unsold
1.List the number of occupied units that are unsold and still owned by the sponsor, cooperative or condominium and provide the annual income received.
2.List the number of leased commercial units in the cooperative or condominium and the annual in- come received from these commercial units.
3.List the number of commercial cooperative and/or condominium units that are
NOTE: Do not include maintenance in SECTION F or SECTION J.
SECTION G – THIS SECTION IS NO LONGER USED
Instructions for Worksheet |
Page 8 |
SECTION H - LEASE AND OCCUPANCY INFORMATION
If you are filing as property owner and you have multiple tenants with different lease agreements and all tenants do not pay triple net expenses, please do not fill out SECTION H and continue onto
SECTION J.
1) |
Indicate if the tenant leases the entire property. |
❑ Yes |
❑ No |
2) |
Indicate if the tenant pays utility expenses. |
❑ Yes |
❑ No |
3) |
Indicate if the tenant pays maintenance and repair expenses. |
❑ Yes |
❑ No |
4) |
Indicate if the tenant pays property tax for the space occupied. |
❑ Yes |
❑ No |
5) |
Enter the amount of Annual Rent paid to the Property Owner. |
______________ |
6)Indicate if the net lessee or owner related party subleasing is any of the property.
|
a) If yes, list the number Square Footage. |
______________ |
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b) If yes, list the Use of Space. |
______________ |
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c) If yes, enter the Annual Rent. |
______________ |
7) |
Indicate if you are filing as ground lessor. |
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a) If yes, enter the Ground Lease Amount that you are receiving. |
______________ |
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A ground lease is a lease in which the right of use and |
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occupancy of land is granted. |
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8)Owner Occupancy:
a)Indicate if any of this property
b)If yes, for residential properties, list the number of units occupied by the owner, related party and/or superintendent: ________ units.
c)If yes, select the type(s) of
❑Residential. _______%
❑Office _______%
❑Retail _______%
❑Loft _______%
❑Factory _______%
❑Warehouse _______%
❑Storage _______%
❑Garage/Parking _______%
❑Other _______%
Owners who have not operated the property and are without knowledge of the income and expenses of the property for the entire calendar or fiscal year of the reporting period, are not required to complete PART II. You are required to complete a Claim of Exclusion for partial year information (Section D.k.) if this applies to your property.
Instructions for Worksheet |
Page 9 |
PART II: INCOME AND EXPENSE STATEMENT
NOTE: In Sections J through L (II), report the property's actual income and expenses. Do not list negative figures on the statement to reflect unrealized or potential income such as free rent, uncollected income or credits due. Finance will disregard any negative figures included on the in- come and expense statement.
SECTION I - REPORTING PERIOD
SECTION J – INCOME FROM REAL ESTATE
For each applicable category of property and income, enter the number of units and annual income in the columns provided. Regulated apartments are subject to rent control and/or rent stabilization. For more information, please contact the Rent Guidelines Board at www.nycrgb.org.
PLEASE NOTE: Do not include maintenance in SECTION F or SECTION J.
Number of Units: Number of rental units for each property type.
Income: Total rent received for tenant occupied space.
9.
10.Ancillary Income:
a.Operating Escalation Income: Any additional rent received above the base rent, as provided in the lease, for
b.Real Estate Tax Escalation: Any additional rent received above the base rent, as provided in the lease, for
c.Sale of Utility Services: Gross amount received from the sale of utilities and services, such as electricity, gas, steam, water, air conditioning, and telecommunications. Do not deduct the landlord’s costs.
d.Sale of Other Services: Gross amount received for laundry, valet services, vending machines, etc.
e.Government Rent Subsidies: Portion of rent that comes from direct rent subsidies that are re- ceived, as well as any abatement of real estate taxes or
f.Signage/Billboard: Amount received from renting any signage or billboard space anywhere on the property.
g.Cell Towers: Amount received for placing a cell tower or antenna anywhere on the property.
Instructions for Worksheet |
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11.Other: Any income generated by the property that has not been previously specified; typical ex- amples include common area maintenance income or common area rental charges. Do not include interest on bank accounts or tenants’ deposits. You must itemize the sources of this income.
12.Total Income from Real Estate: This line provides a calculation reflecting the sum of lines 1 through 11.
SECTION K - INCOME FROM BUSINESS
Complete this section only if the property is used to operate a business such as a theater, gas station, department store, garage, parking lot, power plant,
For each source of income listed in questions
Total all income from business will be calculated on line 8 using totals from lines 1 to 6 plus 7d (Net Department Store Sales).
SECTION L(I) - OPERATING EXPENSES
Use this section to report operating expenses for your property. Allowable expenses include those as- sociated with providing services to tenants, property management and property administration.
Enter the total expenses for following items during 2020:
1.Fuel: Include fuel oil, gas or steam, including gas provided to tenants.
2.Light and Power: Include electricity, including electricity provided to tenants. Do not include elec- tricity consumed by the owner or other filer(s) for personal or business use.
3.Cleaning Contracts: Include contracts with
4.Wages and Payroll: Include all wages, related payroll taxes and employee benefits for building maintenance employees who work at the property. Do not include salaries of employees who work in any
5.Repairs and Maintenance: Amounts paid or incurred for contracts with maintenance companies. Include any amounts that were paid for routine repair services and for material or parts used for repairs. Do not include reserves for replacements.
6.Management and Administration: Amount paid or incurred for contracts with a management com- pany. Include office expenses and legal/accounting services related to the operation of the property.
7.Insurance (annual): Annual charges for fire, liability, and other insurance premiums paid to protect the real property.
8.Water and Sewer: Amount paid or incurred for water and sewer frontage or usage.
9.Advertising: Amount paid or incurred for advertising space available for rent.
10.Interior Painting and Decorating: Cost of contract services and materials for interior painting and interior decoration.
Instructions for Worksheet |
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11.Amortized Leasing Costs: Amounts for brokers’ commissions. If the lease is for more than one year, the total broker’s commission must be
12.Tenant Improvement Costs: Amounts for tenant work done by the landlord. If the lease is for more than one year, the total tenant improvement costs must be
13.Miscellaneous: The miscellaneous field should be reserved for expenses that can’t be otherwise categorized, such as petty cash and sundry. Filers will be prevented from entering expense items that are ineligible. Please review the charts on pages 12 through 15 for a list of frequently mis- categorized expenses and corresponding expense categories.
14.Total Expenses: Total expenses (the sum of lines 1 through 13).
15.Expenses entered on this line will not be included in the calculation of Total Expenses in line 14. If you wish to include real estate taxes, bad debt, depreciation or mortgage interest, enter the total amount here.
SECTION L(II) - RESERVES FOR REPLACEMENT
The Department of Finance is conducting a study of building expenses paid for with replacement re- serve funds. Replacement reserves are allowances that provide for the periodic replacement of build- ing components that wear out more rapidly than the building itself and must be replaced during the building’s economic life. We are asking RPIE filers with replacement reserves to complete Schedule L(II). The information collected will be used to help evaluate the Department of Finance's treatment of such expenses.
Currently, the Department of Finance does not allow replacement reserves additions or debits to be in- cluded as expenses in computing net operating income. The reported information will not be used in computing your net operating income for this RPIE reporting period.
PART IV – RPIE CERTIFICATION
To successfully submit your RPIE filing you must certify the information by clicking “Sign and Submit.” If you do not complete this step, you will not be in compliance with the RPIE filing requirement.
Instructions for Worksheet |
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MISCELLANEOUS EXPENSE CATEGORIES CHART
Types of |
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Correct |
Expenses |
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Category |
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Advertising related to specific |
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property rentals |
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Newspaper ads |
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NYC illuminated sign charge |
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Advertising |
Promotional ads |
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Television ads |
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Cleaning service contract |
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Cleaning |
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Contracts |
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Con Ed steam |
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Gas for heating |
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Fuel |
Oil |
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Boiler explosion premium |
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Fire premium |
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Liability premium |
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Insurance |
Rent fidelity bonds premium |
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Theft premium |
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Brushes |
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Decorating |
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Interior Painting |
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Interior |
Labor for interior decorating |
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Painting |
Paint |
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and |
Painting and Plastering |
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Decorating |
Spackling |
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Wallpaper |
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Amortized leasing commissions |
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Brokers' fees |
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Consultants' fees |
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Leasing |
Leasing agent's fees |
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Commissions |
Leasing contracts |
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Prorated leasing commissions |
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City and State utility tax |
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Electricity |
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Light |
Gas for cooking stove |
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and |
NYC and NYS utility tax |
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Power |
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Types of
Expenses
A/C repairs or upkeep Air conditioning repairs or upkeep
Alarm system maintenance Appliance repairs Asbestos maintenance Asphalt repair
Boiler repairs Building repairs
Burglar and fire alarm system maintenance
Carpenters Chemicals for cleaning Cleaning Service Cleaning Supplies Electrical system repairs Electricians
Elevator repairs Emergency repair service Equipment rental Exterior painting Exterminator/Pest Control Gardening
Gas service
General maintenance and repairs Glaziers
Graffiti removal Hall maintenance Hardware
HVAC Insecticide Intercom repairs Iron work Janitorial Services Janitorial Supplies Landscaping Lawn
Lobby Maintenance
Locksmiths
Masonry
Outside labor
Parking lot repairs
Correct
Category
Repairs and Maintenance
Instructions for Worksheet |
Page 13 |
Types |
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Correct |
of Expenses |
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Category |
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Plastering |
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Plumbers |
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Plumbing repairs |
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Pointing ($500 or less) |
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Pollution repairs |
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Refrigeration repairs |
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Roof repairs |
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Safety devices |
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Security |
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Sidewalk repairs |
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Repairs |
Smoke detectors |
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and |
Snow removal |
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Maintenance |
Sprinkler system maintenance |
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Stairwell maintenance |
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Supplies necessary for |
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maintenance and repairs |
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Swimming pool maintenance |
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Tile repairs |
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Waterproofing |
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Welders |
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Window cleaning |
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Window guards |
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Accounting Fees |
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Administrative fees |
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ADT computer payroll service |
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Association dues |
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Auditing |
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BID fees |
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Bookkeeping fees |
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Building registration fee |
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Carting |
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Certified mail |
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Management |
Collection fees |
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and |
Computer processing |
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Administration |
Consultation fees |
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Credit Card Fees |
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Credit Check |
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Data processing costs |
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DHCR Monitoring |
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Directory service |
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Dispossess filing fees |
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Dues |
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Elevator service contract |
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Environmental protection |
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Types of
Expenses
Escalation billing service Eviction fees (except $1000 and under)
Food for watchdogs General office expense Inspections (boilers, elevator, fire, etc.)
Interim Multiple Dwelling filing fee
Keys Legal Fees Loft Board fees Management agent fees Management fees Marshall's fees
Maximum base rent filing fee Membership fees Messenger ($200 or less) Meter reading service (water meters, electric meters, etc.) Office expense
Office Supplies Outside management Outside services (other than subcontracted labor) Permits
Post Office Box fee Postage Professional Fees Protection
Real Estate Publications and Journals
Realty Advisory Board fees Rent collection fees
Rent stabilization association fee Rubbish removal Scavenger service Security Guards
Security Service Service charges Service contracts Settlement
Small property owners association Stationery
Correct
Category
Management and Administration
Instructions for Worksheet |
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Page 14 |
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Types of |
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Correct |
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Expenses |
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Category |
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Superintendent's telephone |
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Tank registration |
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Telecommunication |
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Telephone |
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Tenant relations |
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Trash/Garbage/Rubbish |
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Management |
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removal |
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and |
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Uniforms |
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Administration |
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Uniforms (purchase and |
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cleaning) |
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Vault tax |
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Water conditioning |
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Water purification |
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Water treatment service |
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Disability welfare |
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Employee benefits |
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Federal unemployment insurance |
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Federal, State and City |
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withholding tax |
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FICA social security tax |
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Health insurance |
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Hospitalization |
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Major medical |
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Wages |
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Management commissions |
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and |
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New York State unemployment |
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Payroll |
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insurance |
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Payroll Tax |
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Pension |
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Salaries (except directors & |
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officers) |
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State unemployment insurance |
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Union dues |
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Workmen's compensation |
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Frontage |
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Water and |
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Sewer charges or taxes |
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Sewer |
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Water charges or taxes |
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Instructions for Worksheet |
Page 15 |
Below are Ineligible Miscellaneous Expenses and expenses that are Eligible to be included in the Expense portion of the RPIE.
Ineligible Miscellaneous Expenses
Air rights Alterations
Amortization (except leasing) Appliances
Appraisal fee Architects fees Automobile expenses Bad debt
Bank charges
Blanket insurance policies Bond premium Building rent
Business insurance
Business organization expenses Cable service
Capital improvements Car fare
Certificate of occupancy costs Certiorari costs
Christmas expenses Claims of any kind Closing costs Commercial rent tax Commitment costs Common charges Compactor Computer purchases Construction Consultation fee (other than
that specified for management or leasing)
Contributions Corporation expenses Corporation taxes Debt service Delivery expense Demolition Depreciation Drawing
Dumpster Electrical survey
Engineer's fee Equipment purchase Estimate expenses (except real estate taxes)
Financial charges or expenses Fines
Franchise taxes Furniture General expense Gifts
Ground rent Health club/gym Improvement loan In rem payments Income taxes Insulation Intercom Interest payments
J51 exemption/abatement filing fee (421a filing fee)
Janitor's apartment and/or utilities General expense
Late charges Lawsuit settlement Lease cancellation costs Lease surrender Leasehold interest Lien
Local law 5 or 10 filing fee Management training Merchants association dues Miscellaneous expense Mortgage Interest Negative (bracketed) amounts Occupancy tax
Office rent Officers' salaries Organization expenses Parking
Partners' salaries Penalties
Personal insurance Pointing - over $500 Projected expenses
Real estate abatement fees Real estate fees
Real estate taxes Rebates Recovery charges Refunds Reimbursements of any type Renovations
Rent
Rent strike settlement Reserves for replacement Return of rent
Safe deposit boxes Storage Superintendent's apartment and/or utilities
Tenant buyout Tenant holdovers Tenant moving expense Tenant refund Tenant's refund Termination fee
Title insurance Transportation Travel
Unincorporated business tax Vacancy
Vacancy and loss of rent Vacating expense Variance costs Violations
Write off on leasing & renting Zoning fees
Xmas expenses
Eligible Miscellaneous Expenses
Petty cash
Lease
Special assessments
Sundry
Instructions for Worksheet |
Page 16 |
Reserve for Replacement Items
1.Air conditioning equipment and systems
2.Air conditioning units in existing sleeves replacement
3.Bathroom and kitchen exhaust fans
4.Bathroom cabinet/countertop/flooring replacement
5.Bathroom plumbing fixtures/controls/fittings replacement
6.Cooling plants (including cooling towers, piping and ductwork)
7.Decking replacement
8.Elevator upgrade/replacement
9.Emergency generators replacement/installation
10.Exterior door/storm door replacement/installation
11.Exterior painting/caulking/weatherproofing
12.Exterior siding replacement/installation
13.Gutter system replacement/installation
14.
15.Heat/fire/smoke suppression systems
16.Heating equipment/controls replacement/installation
17.Heating plant components (boilers/furnaces, piping/ductwork and chimneys/flues) replacement/installation
18.Hot water heaters/controls replacement/installation
19.Kitchen appliance replacement
20.Kitchen cabinet/countertop/flooring replacement
21.Kitchen plumbing components/controls/fittings replacement
22.Laundry appliance replacement
23.Masonry
24.Parking structure modification
25.Pool/tennis court/fitness center/playground replacement
26.Roof surface replacement/installation
27.Security systems replacement
28.Site grading and retaining wall replacement/installation
29.Site paving replacement/installation, including parking areas and sidewalks
FILING DEADLINE: JUNE 1, 2021
REAL PROPERTY INCOME AND EXPENSE WORKSHEET
This is a worksheet, not the RPIE. You must file the RPIE electronically.
CHECK YOUR MAILING ADDRESS: All owners must maintain a current mailing address for each property with the NYC Department of Finance. To check your mailing address for this property, look at the latest Prop- erty Tax Bill found http://nycprop.nyc.gov/nycproperty/nynav/jsp/selectbbl.jsp. Mailing addresses can be up- dated online at http://nyc.gov/changemailingaddress or by calling 311.
PART I: OWNER AND PROPERTY INFORMATION |
PLEASE READ THE RPIE INSTRUCTIONS |
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CAREFULLY BEFORE COMPLETING THIS FORM |
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SECTION A - OWNER/FILER INFORMATION |
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1a. |
Owner’s Name: _____________________________________________________________________________________________ |
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b. |
Owner’s Employer Identification Number: |
c. Owner’s Social Security Number: |
OR |
d. Additional Owner’s Name: _____________________________________________________________________________________
e. Additional Owner’s Employer Identification Number: |
f. Additional Owner’s Social Security Number: |
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OR |
2a. |
Name of Entity Filing (if different from the owner): ___________________________________________________________________ |
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b. |
Filer’s Employer Identification Number: |
c. Filer’s Social Security Number: |
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OR |
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d. Entity’s Relationship to the Property: |
❑ Owner |
❑ |
❑ Owner Representative |
❑ Lessee Representative |
SECTION B - CONTACT INFORMATION
1. |
Contact Name: _____________________________________ |
___________________________________________ |
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3. |
Address: ____________________________________________________________________________________________________ |
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NUMBER AND STREET |
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City: ______________________________________________ |
State: _____________ |
Zip Code: _________________________ |
4. |
Telephone #: ______________________________________ |
_______________________________________ |
SECTION C - PROPERTY IDENTIFICATION
CONSOLIDATED LOTS
1. Please indicate all contiguous properties that have the same
2. Please select apportionment method: |
❑ Percentage |
as one economic unit and are in the same borough.
Building square feet |
❑ # of units |
Block:___________ |
Lot:___________ |
Block:___________ |
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Block:___________ |
Lot:___________ |
Block:___________ |
Lot:___________ |
Block:___________ |
Lot:___________ |
Block:___________ |
Lot:___________ |
3.❑ Check here if this property is a hotel.
4.Condominiums filing for multiple lots, please indicate if this filing covers:
a. ❑ Entire Condominium from lot |
______________ |
to lot ______________ |
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b. ❑ All lots within a range from lot |
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to lot ______________; |
from lot ______________ |
to lot ______________ |
from lot ______________ |
to lot ______________; |
from lot ______________ |
to lot ______________ |
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from lot ______________ |
to lot ______________; |
from lot ______________ |
to lot ______________ |
Address of Property: ____________________________________________________________________________________________
Borough: ________________________________________ Block:_______________________ Lot: ________________________
Page 2 |
SECTION D - RPIE EXCLUSIONS
I am not required to file a RPIE for this year because my property:
a.❑ has an Actual Assessed Value of $40,000 or less.
b.❑ is exclusively residential with 10 or fewer apartments.
c.❑ is primarily residential with 6 or fewer apartments and no more than one commercial unit, and is in Tax Class 1 or Tax Class 2.
d.❑ is a residential cooperative apartment building with less than 2,500 square feet of commercial space (not including garage space).
e.❑ is an individual residential condominium unit that was sold and is not owned by the sponsor.
f.❑ is rented exclusively to a related person or entity.
g.❑ is occupied exclusively by the owner but is not a: department store with 10,000 or more gross square feet; hotel or motel; parking garage or lot; power plant; or theater.
h.❑ is owned and used exclusively by a fully exempt
i.❑ is vacant or uninhabitable and
j.❑ is vacant,
k.❑ The owner has not operated the property and is without knowledge of the income and expenses for the entire calendar or fiscal year of the reporting period
IF YOU CLAIMED AN EXCLUSION ABOVE, |
TO PART IV: RPIE CERTIFICATION. |
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SECTION SF - SHORT FORM (Optional form for |
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$250,000 or less) |
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PROPERTY USE, VACANCY & I |
NCOME INFORMATION |
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% as of |
Income |
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Total Number |
Vacancy |
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of Units |
Occupancy % |
Jan 5, 2021 |
($ per year) |
1. |
Commercial Income |
% |
% |
$ |
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2. |
Residential Income |
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% $ |
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3. |
Cell Site Income |
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4. |
Signage/Billboard Income |
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$ |
5.Total Income from Real Estate . ________________________________________________________________________________$
PROPERTY OPERATING EXPENSES
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Expenses |
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($ per year) |
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1. |
Utilities |
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Other |
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3. |
Total Expenses |
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*Real Estate Taxes |
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*Bad Debt |
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*Depreciation |
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*Mortgage Interest |
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*NOTE: Real estate taxes, bad debt, depreciation and mortgage interest should not be included when tallying Total Expenses. These expenses are not eligible for valuing real estate for NYC property tax purposes.
Page 3 |
SECTION E - PROPERTY USE AND VACANCY INFORMATION
1. Description:
a. |
Total # of Units: ____________ |
b. |
# of Residential Units: __________ |
c. # of Commercial Units: ____________ |
d. |
# of Buildings: _____________ |
e. |
# of Floors: __________________ |
f. Year of Purchase: ________________ |
For each use type, indicate the percentage of total square feet that was vacant (unoccupied, unleased or generating no income) as of Jan-
uary 5, 2021. Square feet occupied for any portion of January 5, 2020 may not be included.
______________________________________________________________________________________________________________
Percentage Vacant
______________________________________________________________________________________________________________
2. Residential:
______________________________________________________________________________________________________________
3. Office:
______________________________________________________________________________________________________________
4. Retail Tenants:
______________________________________________________________________________________________________________
5. Loft:
______________________________________________________________________________________________________________
6. Factory:
______________________________________________________________________________________________________________
7. Warehouse:
______________________________________________________________________________________________________________
8. Storage:
______________________________________________________________________________________________________________
9. Garage/Parking:
______________________________________________________________________________________________________________
10. Other:
______________________________________________________________________________________________________________
11. Other:
______________________________________________________________________________________________________________
12. Other:
______________________________________________________________________________________________________________
13. Other:
______________________________________________________________________________________________________________
SECTION F - TO BE COMPLETED ONLY IF THE PROPERTY IS A COOPERATIVE OR CONDOMINIUM
______________________________________________________________________________________________________________
A. # of Units |
B. Annual Income ($) |
______________________________________________________________________________________________________________ |
1.Unsold Occupied Units:
______________________________________________________________________________________________________________
a.Regulated Apartments
______________________________________________________________________________________________________________
b.Unregulated Apartments
______________________________________________________________________________________________________________
2.Unsold Commercial Units that are Leased:
______________________________________________________________________________________________________________
3.Commercial Units Owned and Occupied
by the Cooperative/Condominium Owner:
______________________________________________________________________________________________________________
❑Despite our due diligence in seeking rent roll information for
Page 4 |
SECTION H - LEASE AND OCCUPANCY INFORMATION
If you are filing as property owner and you have multiple tenants with different lease agreements and all tenants do not pay triple net expenses, please do not fill out SECTION H and continue onto SECTION J.
1. Does the tenant lease the entire property? |
❑ Yes |
❑ No |
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2. |
Does the tenant pay utility expenses? |
❑ Yes |
❑ No |
3. |
Does the tenant pay maintenance and repair expenses? |
❑ Yes |
❑ No |
4. |
Does the tenant pay property tax for the space occupied? |
❑ Yes |
❑ No |
5. |
What is the Annual Rent paid to the Property Owner? |
______________ |
6.Is the net lessee or owner related party subleasing any of the property? if YES, then please provide responses to questions
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b) What is the Use of Space? |
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c) What is the Annual Rent? |
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7. |
Are you filing as ground lessor |
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if YES, then please respo |
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a) What is the Ground Lease Amount that you are receiving? |
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A ground lease is a lease in which the |
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y of land is granted. |
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right of use and occupanc |
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8. |
Owner Occupancy: |
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a) Is any of this property |
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party? |
❑ Yes |
❑ No |
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or occupied by a related |
b)For residential properties, list the number of units occupied by the owner, related party and/or superintendent: _________ units.
c)Select the type(s) of
❑Residential ___________%
❑Office ___________%
❑Retail ___________%
❑Loft ___________%
❑Factory ____________%
❑Warehouse ___________%
❑Storage ___________%
❑Garage/Parking ___________%
❑Other ____________%
END OF
IF APPLICABLE, CONTINUE ON TO
PART II: INCOME AND EXPENSE STATEMENT (FOR ALL PROPERTIES EXCEPT HOTELS)
OR
PART III: INCOME AND EXPENSE STATEMENT FOR HOTELS ONLY
The submission deadline for all
PART II: INCOME AND EXPENSE STATEMENT (FOR ALL PROPERTIES EXCEPT HOTELS)
SECTION I - REPORTING PERIOD
1. |
The income and expense statement is for a: |
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a. ❑ Calendar Year |
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b. ❑ Fiscal Year |
c. ❑ Partial Year |
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2. |
Please indicate the period covered in this statement: |
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From __________ - __________ To __________ - __________ |
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YEAR |
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SECTION J - INCOME FROM REAL ESTATE. Do not list any negative figures. |
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# of Units |
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Income ($ per year) |
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1. |
a. |
.....Residential Regulated (If an amount is entered as Income, you must also enter the # of units) |
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b. Residential Unregulated (If an amount is entered as Income, you must also enter the # of units). _________________________________________ |
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c. Total Residential Income - see instructions |
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2. |
Office |
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Retail Tenants |
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4. |
Loft |
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5. |
Factory |
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6. |
Warehouse |
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7. |
Storage |
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8. |
Garages/Parking |
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10. |
Ancillary Income (not included in Regulated or Unregulated income |
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........................................................................................................................................a. Operating Escalation |
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b. Real Estate Tax Escalation |
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c. Sale of Utility Services |
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d. Sale of Other Services |
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......................................................................................................................e. Government Rent Subsidies |
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f. Signage/Billboard |
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11. Other (detail other uses below): |
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a. ______________________________________________________________ |
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b. ___________________________________________ |
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_____ _________________________________________ |
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c.____________________________________________ |
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Total Income from Real Estate |
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SECTION K - INCOME FROM BUSINESS. Do not list any negative figures. |
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Income ($ per year) |
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...............................................................................................................................Merchandise |
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Food and Beverage |
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Parking |
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4. |
Automotive Fuel |
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Admissions |
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Other Sales |
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7. |
Department Store Sales |
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a. Gross Department Store Sales |
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b. Returns and Refunds (Deduct from Gross Department Store Sales) |
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d. Net Department Store Sales |
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Total Income from Business |
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SECTION L(I) - PROPERTY OPERATING EXPENSES. Do not list any negative figures. |
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Expenses ($ per year) |
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1. |
........................................................................................................................................................................................Fuel |
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2. |
Light and Power |
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3. |
Cleaning Contracts |
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4. |
Wages and Payroll |
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5. |
Repairs and Maintenance |
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6. |
Management and Administration |
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7. |
Insurance (annual) |
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8. |
Water & Sewer |
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9. |
Advertising |
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10. |
Interior Painting and Decorating |
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11. |
Amortized Leasing Costs (annualized, |
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12. |
Amortized Tenant Improvement Costs (annualized, |
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13. |
Miscellaneous Expenses: (not all deducted by Finance during valuation) |
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a.______________________________________________________________ _________________________________________
b.______________________________________________________________ _________________________________________
c.______________________________________________________________ _________________________________________
d.______________________________________________________________ _________________________________________
14. |
Total Expenses |
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15. |
Real Estate Taxes, Bad Debt, Depreciation and Mortgage Interest |
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(Optional - These expenses are not included when tallying Total Expenses) |
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Page 6 |
SECTION L(II) - RESERVES FOR REPLACEMENT. Do not list any negative figures.
Instructions: To be completed only if there is an annual monetary reserve for replacement. See Instructions page 16 for a list of eligible reserve items. Fill in the item number if listed. For items not listed describe the item in this section.
Total Reserve at Start |
Total Reserve at End |
of Reporting Period ($):________________________ |
of Reporting Period ($):________________________ |
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Item
Description
Reporting
Period Expenses ($)
Recovery
Period (Years)
Other Items:
PART III: INCOME & EXPENSE STATEMENT FOR HOTELS ONLY
SECTION M - REPORTING PERIOD
1. |
The income and expense statement is for a: |
a. ❑ Calendar Year |
b. ❑ Fiscal Year |
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c. ❑ Partial Year |
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2. |
Please indicate the period covered in this statement: |
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From __________ - __________ |
To __________ - __________ |
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MONTH |
YEAR |
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MONTH |
YEAR |
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3. |
Name of the Hotel or Motel: _______________________________________________ |
4. |
Total # of Rooms: __________________ |
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4a. # of Transient Rooms: _________ |
4b. # of Permanent Rooms:__________ |
4c. # of Keys: ___________________________ |
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4d. Occupancy Rate for 2020: ______ |
4e. RevPAR for 2020 _______________ |
4f. |
Average Daily Rate for 2020 ____________ |
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SECTION N - INCOME. Do not list any negative figures. |
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Income ($ per year) |
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1. |
Departmental |
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........................................................................................................................................................................................................................a. Rooms |
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.........................................................................................................................................................................................b. Food and Beverage |
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c. Telecommunications |
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d. Conferences and Exhibits |
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......................................................................................................................................................................................................................e. Parking |
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f. |
Other Department |
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2. |
Total Departmental Income |
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3. |
Rental Tenants |
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.....................................................................................................................................a. Apartments, including Permanent Tenants |
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b. Stores |
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c. Restaurants |
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d. Offices |
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e. Others |
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4. |
.............................................................................................................................................................................................Total Rental Tenants |
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5. |
Signage/Billboard |
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6. |
Cell Towers |
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7. |
Other (describe): a) __________________ b) |
__________________ c) __________________ |
_________________________ |
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8. |
................................................................................................................................................................................................................Total Income |
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SECTION O - EXPENSES. Do not list any negative figures. |
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Expenses ($ per year) |
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1. |
.................................................................................................................................................................................................................Departmental |
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a. Rooms |
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b. Food and Beverage |
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c. Telecommunications |
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d. Other Departments (describe): _____________________________________________________ |
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2. |
......................................................................................................................................................................Total Departmental Expenses |
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3. |
Undistributed Operating |
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........................................................................................................................................................................a. Administrative and General |
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.................................................................................................................................................................................................................b. Marketing |
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..............................................................................................................................................................................................c. Management Fee |
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d. Franchise Fee |
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e. Energy |
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_________________________ |
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f. |
Property Maintenance |
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_________________________ |
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g. Insurance |
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h. Other Operating (describe): a) ______________ |
b) ______________ c) ______________ . |
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4. |
...........................................................................................................................................Total Undistributed Operating Expenses |
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5. |
..........................................................................................................................................................................................................Total Operating |
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_________________________ |
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6. |
Financial and Other (describe): _______________________________________________________ |
_________________________ |
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7. |
..........................................................................................................................................................................................................Total Expenses |
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_________________________ |
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SECTION P - RECAPITULATION, FURNITURE, FIXTURES AND EQUIPMENT. Do not list any negative figures.
______________________________________________________________________________________________________________ |
Amount ($ per year) |
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1. Recapitulation |
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_________________________ |
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a. Net Departmental Income |
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_________________________ |
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b. Net Operating Income |
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c. Net Income |
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_________________________ |
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2. Furniture, Fixtures and Equipment (FF & E) Used in Hotel Operations |
............................................................................ |
_________________________ |
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a. Is there a reserve for FF & E ? |
❑ Yes |
❑ No |
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_________________________ |
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.......................................................................................................................................b. Contribution to reserve in reporting year |
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$ |
_________________________ |
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c. Cost of items purchased in reporting year |
$ |
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d. Book cost of all FF & E at year end |
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$ |
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e. Depreciation of FF & E for reporting year |
$ |
_________________________ |
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f. Book cost less accumulated depreciation |
$ |
_________________________ |