30 Days of 3.0 – Day 10: "Starts On"
Welcome to Day 10 in our “30 Days of 3.0” series. Yesterday, we talked about our “New Construction” option that we can turn on for you behind-the-scenes. Today, we’re going to wrap up our first trimester by showing you how to control when additional income and expenses are applied to our cash flow forecasts.
When you’re modelling a new construction, often it doesn’t make sense for certain income and expense ledger items to take effect until after units come online. For example, you’re not going to have management fees until you actually have tenants to manage.
So when we turn on the “New Construction” switch for you, you’ll see a new column in the Ledgers called “Starts On”. When you put a date in that column, that item will not take effect in the calculations until that date. When combined with what we’ll talk about over the next couple days, we can help you get a much better understanding of how a property is managed as it comes online than was previously possible.
Tomorrow, we’re going to show you a new way to break down your expenses. I’ll see you then, and as always, I hope you have a fantastic day! :)