REMark Definitions

Key Performance Indicators (KPIs)

The data chosen will be from the previous four Quarters (or 12 months as appropriate) and the figure stated will be the average collection performance over this period.

1 - Rent Collection performance

The collection figure used will be:

The percentage of "Collectable Rent" collected as at close of business on the following days after the date the rent became due:

0,3,5,7,14,30, 120

If you do not collect at all these intervals, please fill in those you do. If your due dates are different, please note this in the comment box.

2 -  Service Charge Collection performance

The collection figure used will be:

The percentage of "Collectable Service Charge" collected as at close of business on the following days after the date the rent became due:

0,3,5,7,14,30, 120

If you do not collect at all these intervals, please fill in those you do. If your due dates are different, please note this in the comment box.

3 - Year End Service Charge Variance

The percentage difference, +ve or -ve, at year end, between budgeted Service Charge and actual.

4 - Service Charge Reconciliation Performance

How many weeks and days did it take from the end of the service charge year to close the service charge account for that year?

Definitions

"Collectable Rent" is ALL rent due as at the due date, less rent not collectable due to:

 - Tenant liquidation or receivership

 - Agreed Payment Plans

 - Void properties where the Landlord covers the costs

 - Sums that the Landlord has elected not to collect through dispute or other issue.

"Collectable Service Charge" uses the same definition as for Collectable Rent.

The collection performance will be calculated both with and without the void properties. This comparison will be useful in showing that the performance is not artificially inflated by a large amount of voids.

Go to the survey here - http://bit.ly/4obcVP

 

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