Your property has six units: Unit # 1 rents for $950 per month and has a scheduled increase in month seven to $1,050 Unit # 2 rents for $1,100 per month Unit # 3 rents for $1,200 per month Units # 4 rents for $1,100 per month but will vacate at the end of month two. The market rent for this unit when it becomes available will be $1,200 per month Unit # 5 is occupied by the property manager, who pays no rent and whose unit is considered a Non-Revenue Unit." If she did pay rent the rent would be 1,250 Unit # 6 skipped after trashing the unit, but you expect to have it repaired and rented commencing month three for $1,200.8. What is your projected annual Gross Potential Revenue? Remember, Gross Potential is the most revenue the property could generate annually if every vacant unit was leased and given the leases that are already in place. You will later subtract from Gross Potential lost rent due to vacancy, bad debt, non-revenue units, etc

Answer rating: 100% (QA)

To calculate the projected annual Gross Potential Revenue lets break it down Unit 1 Ren... View the full answer