GROSS POTENTIAL RENT (GPR) REPORT

To generate this report:

From the menu, select Analytics, then GPR Report.

On the Sequoia GPR screen complete the following:

• Property - enter your property.

• Month - enter the current month 

• Summarize by - select Unit

• Output Type - select Excel (You may also view this via your screen in Yardi Voyager, but Excel allows you to sort the report in a few ways to allow for more specific review).

Select Generate to run the report.

A)  Scheduled Rent, Actual Rent Charged, and Actual Apartment Income columns - confirm amounts are accurate. Amounts in these columns are usually the same.  If there is a difference, confirm that the difference is accurate (i.e. in cases where a vacancy number offsets scheduled rent for move-outs). 

B) Review Vacancy. The only units with values in this column should be vacant and model units. If a resident is listed with an amount in the Vacancy column, and no actual rent charged, the resident has not been charged rent. You must add a lease charge to the resident account to correct. 

C) Review Loss/Gain to Lease. Sort the column from smallest to largest. Any amounts over $500 are considered unusually high. In the two examples below, these residents were charged rent twice. Even though the scheduled rent and actual rent charged match, the Loss/Gain to lease column helps us pinpoint this billing error. 

To fix this, review the lease charges within the resident profile. In these two examples, there are duplicated scheduled lease charges. Adding an end date to the duplicate charge will allow it to expire and no longer assess the duplicate charge moving forward. Now, you must reverse the duplicate rent charge on the ledger. Note: the charge must be unpaid to allow you to process a reversal. Do not utilize a quick charge as this will not fix the report. If a payment is tied to the charge, reapply it so the charge shows as unpaid. Next use Charges > Reverse charge from your side menu to reverse the charge. 

The report will be updated and you will no longer see the inflated rent charges or loss/gain to lease discrepancy.

D) To column - Review the “To” column. In this review, we are looking for outliers to the current month that the report was generated for. Sort this column by “newest to oldest”. If there are any dates after the month you have generated the report for, this is caused by a ledger transaction. 

For this example, the report was generated for the month 1/1/2023-1/31/2023. This date of 2/14/2023 shows us there is an issue. 

On the ledger, there was a charge of $834.58 assessed on 1/18 (A) and a duplicate charge assessed on 1/18 for $834.58 (B). The report reads these two charges as rent for 28 days beginning on 1/18. This means the assumed occupancy was through 2/14, the date we see on the report. 

A negative quick charge was added on 1/23 for $-834.58 (C) but quick charges do not work in resolving the GPR report. A true reversal of the problematic transactions using the Charges > Reverse Charge menu option needs to be performed to fix the report.

E) Review Prior Period Adjustments and Current Period Forecast. 

Prior Period Adjustments will reflect any adjustments to rent charges that were performed during the month you have generated the report for, but that affect a prior period. No action is needed, but be aware of when you are performing actions in the system to ensure they are completed in the current period. 

Current Period Forecast shows scheduled move-ins and move-outs. Review to ensure that dates look accurate for known move-ins and move-outs.