Form Rpie-2016 - Real Property Income And Expense Worksheet And Instructions (Page 12 of 24) in pdf

Form Rpie-2016 - Real Property Income And Expense Worksheet And Instructions Page 12

Instructions for Worksheet RPIE-2016

Page 11

11. Amortized Leasing Costs: Amounts for brokers’ commissions. If the lease is for more than one

year, the total broker’s commission must be pro-rated to calculate the annual expense.

12. Tenant Improvement Costs: Amounts for tenant work done by the landlord. If the lease is for more

than one year, the total tenant improvement costs must be pro-rated to calculate the annual expense.

13. Miscellaneous: The miscellaneous field should be reserved for expenses that can’t be otherwise

categorized, such as petty cash and sundry. Filers will be prevented from entering expense items

that are ineligible. Please review the charts on pages 12 through 15 for a list of frequently mis-

categorized expenses and corresponding expense categories.

14. Total Expenses: Total expenses (the sum of lines 1 through 13).

15. Expenses entered on this line will not be included in the calculation of Total Expenses in line 14.

If you wish to include real estate taxes, bad debt, depreciation or mortgage interest, enter the total

amount here.

sECtIoN L(II) - REsERVEs FoR REPLACEmENt

The Department of Finance is conducting a study of building expenses paid for with replacement re-

serve funds. Replacement reserves are allowances that provide for the periodic replacement of build-

ing components that wear out more rapidly than the building itself and must be replaced during the

building’s economic life. We are asking RPIE filers with replacement reserves to complete Schedule

L(II). The information collected will be used to help evaluate the Department of Finance's treatment of

such expenses.

Currently, the Department of Finance does not allow replacement reserves additions or debits to be in-

cluded as expenses in computing net operating income. The reported information will not be used in

computing your net operating income for this RPIE reporting period.

PART IV – RPIE CERTIFICATION

The Department of Finance is not requiring a rent roll submission for RPIE-2016. If you wish to vol-

untarily submit a rent roll for RPIE-2016, click on the appropriate link.

To successfully submit your RPIE filing you must certify the information by clicking “Sign and Submit.”

If you do not complete this step, you will not be in compliance with the RPIE filing requirement.

Form Rpie-2016 - Real Property Income And Expense Worksheet And Instructions Page 12