Hi Investors,
I am currently working on a project in Entrepreneur Finance Class. We have to come up with the pro forma numbers for financial statements of a start-up company and we chose Property Management Company. I have no experience in estimating these numbers before, so I think it's a good place in this Forum to ask.
Can you help me to come up with estimation of the 1st year, maybe the 2nd year and 3rd year of a Property Management Company for the following costs:
- operating capital
- salaries and wages
- insurance premiums/prepaids
- legal fees
- accounting fees
- rent deposits
- utility deposits
- office supplies
- office equipment
- advertising
- licensing
And :
Revenue:
- Income from rentals (percentage of gross rent)
- Income from agents
- Income from property mgmt. services (finders fee, tenant placement, evictions, collections, repair management, etc.)
- Other income (late fees, interest)
Assets/Liabilities:
- Cash
- Accounts receivable
- Accounts payable
- Long-Term loans
- Prepaid expenses
- Office furniture
- Office equipment
- Other fixed?
Any short, long answer appreciated.
