Leading, Supporting, and Serving the Non-Profit Housing Sector

Best Practices

They are all the potential sources of income associated with operating a residential building and include:

  • Geared-to-income tenant rent contributions
  • Market and flat fee rents
  • Rent subsidies and repayable assistance
  • Interest earned on housing funds
  • Laundry revenue
  • Parking fees (non-tenant or tenant)
  • Guest suite rentals
  • Rental fees for use of common rooms (e.g. party)
  • Elevator advertising revenue
  • Cable TV access fees
  • Rooftop rentals
  • Signage
  • Film location fees
  • Commercial space rental fees (e.g. offices or retail outlets).

It includes:

  • Obtain accurate geared-to-income tenant rent contributions or market rents
  • Obtain accurate subsidy income or repayable assistance to cover the shortfall between economic rent and tenant rent contribution/market rent
  • Minimize rent arrears and bad debt expense
  • Minimize vacancy loss
  • Identify and maximize other appropriate building income
  • Raise non-shelter funds.

Best practices in this category help you:

  • Plan and control your operating and capital expenditures
  • Forecast and generate needed cash flow
  • Safely and productively invest funds not needed in the current period
  • Comply with accounting, recording, and financial reporting requirements
  • Monitor financial performance and take early corrective action
  • Protect your society from financial mismanagement and theft.

You can . . .