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Income and Expense Summary Reports

The functionality described in this section requires CC Plus 2

See Also: Income Data Tab



Income and Expense Summary Reports

Income and Expense Summary Reports are available for insertion in your narrative documents.  To provide maximum flexibility,  Full and Short summaries can be inserted, each with different custom Report Settings.  The income analysis for each property record has unique Report Settings for both the Income Summary Reports and the Expense Summary Reports. See the Report Settings section further down in this topic.


Using the Income and Expense Summary tabs, you can comprehensively analyze and thoroughly document each income and expense item.  Then these summaries can be inserted into your narratives in an organized and consistent way, using the custom Report Settings that you specify.


Rent Survey Reports

On the same Income Summary tab mentioned above, Rent Survey information can be entered.  This option is ideal for rent comparable data where you may have information on individual comparable leases, but you do not have complete information on the total income for the comparable property.  Or you may have a complete income analysis, but you only want to present information on selected leases.  The Short Rent Survey can be included along with a Property Datasheet or a Full Rent Survey report can be displayed that contains a photograph a brief description of the property along with detailed rental information for each lease.


To present a Rent Survey for the property, simply check the Rent Survey checkbox in the top left of the window.  This box can be toggled on and off without losing the information that has been entered.  Text fields remain the same for both the Income Summary and the Rent Survey. 


Insertion and Assembly Options

Several methods that can be used to insert these summaries in your reports are discussed in the next few paragraphs.  Choose the best method, or methods in combination, to suit your particular needs.  Because each property record's summary reports have unique Report Settings, a different report look can be used for each property that appears in your narrative (subject and each comparable or each Comparables Group).  By taking advantage of these Report Settings, in conjunction with the Full and Short Report options, your narratives can be customized to present the information exactly as you need it.  The combinations are almost endless. 


Recognizing that each user has different needs and preferences, neither the Income or Expense Summary Reports are included in the narrative templates that we provide.  But you can easily modify your templates to include these summaries in the format that best suits your needs.



Assemble Document Button Method

These Summary Reports can be assembled in a blank editor or inserted directly into a narrative by clicking the green Assemble Document button and selecting the option "Current Record Datasheet, Income and Expense Summaries".  If the Current Record is the Subject or a Comparable, the option will read Subject Property Datasheet, Lease and Expense Summaries" or "Comparable #_ Datasheet, Income and Expense Summaries", respectively.


If you are inserting the summaries directly into a narrative, we recommend that you place your cursor where the reports should be inserted, insert a pagebreak, and place your cursor at the top of the blank page.  Then click the green Assemble Document button and select the desired option.


Please note that when inserting these reports into your narrative using the method above, the reports are NOT inserted as fields; i.e., the contents of the reports will not be updated when an Update option is selected using the green Update button.  If this is not desirable, use the green Insert button to insert the reports.  By inserting the reports using the green Insert button, the reports can be inserted as fields that will be updated when the narrative is updated.



Green Insert Button Method

Click the green Insert button above the editor and select Reports to display the Report Insertion window.  In the Property Reports column at the lower left, both Full and Short report options are available for Leases and Expenses.  They are available for the Subject and each Comparables Group.  Select the reports that you desire to insert and insert them as fields or just reports.  


Using this method of insertion enables you to insert reports whose contents will be updated when the narrative is updated.  


You can choose to insert different reports in various locations in your narrative.  For example, you may insert the Short Income Summary Report in the section that discusses the subject's income in the Income Approach.  In the Addendum, you can insert the Full Income Summary Report for the subject.  You can insert a Short Income Summary Report for the Rent Comps group in the section of your narrative that discusses rent comparables.  If you have Expense Comps, you can insert a Full or Short Expense Summary Report for the Expense Comps in the section in your narrative that discusses expenses.  You get the idea.  The demands of each appraisal assignment vary, so you may choose to insert the reports on an ad hoc, appraisal by appraisal basis.


This method of insertion can also be used to customize your templates by inserting the reports at the locations in your templates where they are required and then saving the templates.


Note that if a particular record has no income or expense data associated with it, then no income or expense summary sheet will be inserted for that property record.



Report Format Method

Click the green Format button above the editor and select Reports to display the Report Formatting Properties window.  On the left side of this window are tabs for the Sujbect Property Datasheet and each Comparables Group.  Select one of these tabs and click the Report Formatting tab at the top center of the Report Formatting Properties window.  Checkboxes are available for each of the summary reports as well as a Rent Roll and Expense Report.  Check the boxes next to the reports that should be displayed when the datasheet is assembled.


This method is especially useful for Comparables Groups like the Rent Comparables and Expense Comparables.  When the Comparables Group is inserted in the narrative, the summary reports will also be displayed immediately after comparable's Property Datasheet.  Changes in the income or expense data for a comparable will be reflected when the narrative is updated.


Note that if a particular record has no income or expense data associated with it, then no income or expense summary sheet will be inserted for that property record.



Full Reports and Short Reports

Full and Short report summaries give you the ability to insert limited or expanded detail for each income or expense item in different sections of your narrative.  For example, you may want a Short Income Summary to appear in the discussion of income in the income approach. In addition, you may want a Full Income Summary with an expanded discussion of each income item to appear in the Addendum.


The basic difference between a Full Report and a Short Report is the way each income or expense item is listed.  In a Full report, each income and expense item is listed on a separate page when the report is assembled.  In a Short report, income and expense items are listed consecutively, one after the other, with no page break.  Each Full or Short report is then made distinctly different by the Report Settings options that you choose to present.


Click on a link below to view a sample report.

Full Income Summary Example

Short Income Summary Example

Full Expense Summary Example

Short Expense Summary Example

Comp Datasheet with Lease and Expense Summaries

Full Rent Survey Sample

Property Datasheet with Sample Rent Survey



Report Settings

Beyond the basic difference mentioned above, the look of the Full and Short report is controlled by setting the properties on the Report Settings tab.  Please remember that the settings apply to the income analyis for that particular property record.  The settings for each property record can be different.