Form Rpie-2016 - Real Property Income And Expense Worksheet And Instructions For Self-Storage Facilities Page 6
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16Instructions for Worksheet RPIE-2016 - Self-storage facilities
Page 5
4.
Other Sales: Amount received from ancillary or miscellaneous income sources such as late fees
and storage unit insurance.
5.
Total Business Income: Calculated as the sum of Self-Storage Unit Rental Business Income plus
lines 1 through 4 in the “Other Business Income” section.
other Income
1.
Signage/Billboard: Amount received from renting any signage or billboard space anywhere on
the property.
2.
Cell Towers: Amount received for placing a cell tower or antenna anywhere on the property.
3.
Other (describe): Any income generated by the property that has not been previously specified. Do
not include interest on bank accounts or tenants’ deposits. You must itemize the sources of this
income.
4.
Total Income: Calculated as the sum of all income items listed above in the “Self-Storage Real
Estate Rental Income”, “Self-Storage Unit Rental Business Income”, “Total Business Income”
and “Other Income” sections.
Cost of goods sold
Definition of “Cost of goods sold”: Cost of Goods Sold (COGS) represents the direct costs attribut-
able to the production of the goods sold by a company. This includes the cost of the materials used to
create the goods as well as the direct labor costs used to produce the goods.
1.
Merchandise: COGS related to the sale of boxes, tape, locks and other moving supplies.
2.
Truck Rentals: COGS related to rental of trucks and related equipment.
3.
Outdoor Vehicle Storage: COGS related to the rental of outdoor vehicle storage space.
4.
Other Sales: COGS related to ancillary or miscellaneous income sources such as late fees and
storage unit insurance.
5.
Total Cost of Goods Sold: Calculated as the sum of lines 1 through 4 in ”Section L – Business
Expenses.”
6.
Gross Profit: Calculated by subtracting Total Cost of Goods Sold from Total Business Income.
sECtIoN L – BUsINEss EXPENsEs
1.
Labor Costs: Annual amount of wages, payroll taxes, workers’ compensation, health insurance,
and other employee benefits.
2.
Insurance: Annual charges for fire, liability, theft coverage and other insurance premiums paid to
protect the real property. Pro-rate multi-year premiums to calculate an average annual expense.
3.
Royalty Fees: Ongoing monthly or annual payments to the franchisor to cover administrative
and marketing costs, usually based on a percentage of gross or net sales.
4.
Franchise Fees: An up-front charge that the operator pays to use the licensed concept.
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