Monthly Asset Report

Monthly Asset Report

Produce a monthly asset management report for an income-producing property, covering leasing activity, collections, NOI performance, occupancy, and capital expenditures.

Skills Invoked

• same-store-noi -- NOI analysis, occupancy bridge, revenue/expense decomposition
• leasing-spread-analysis -- lease spreads, rollover waterfall, retention economics

Required Inputs

• Property name and reporting period (month/year)
• Actual operating results for the period (P&L or GL extract)
• Rent roll as of reporting date

Optional Inputs

• Budget for comparison
• Prior year actuals for comparison
• Leasing pipeline / activity log
• Capital project status updates

Reads from Manifest

• underwriting/assumptions.json -- original underwriting assumptions for variance context
• underwriting/proforma.xlsx -- budget/UW pro forma
• operations/rent-roll.xlsx -- prior period rent roll for delta analysis
• operations/collections.xlsx -- collections detail

Writes to Manifest

• Directory: reporting/
• Files: asset-report-YYYY-MM.md
• Key metrics: noi_actual, noi_budget, noi_variance_pct, occupancy_physical, occupancy_economic, collections_rate, leasing_activity_sf

Workflow

Step 1: Gather Period Data

Collect actual P&L, rent roll, leasing activity, and capital project updates for the reporting period. Check manifest for prior-period data to enable trend analysis.

Step 2: Analyze NOI Performance

Invoke same-store-noi to decompose revenue and expenses, compute NOI vs. budget and prior year, and build the occupancy bridge (beginning occupancy -> lease-up -> move-outs -> ending occupancy).

Step 3: Analyze Leasing Activity

Invoke leasing-spread-analysis to evaluate new leases and renewals executed during the period. Compute cash and GAAP spreads vs. prior rents, and summarize upcoming rollover exposure.

Step 4: Collections Summary

Summarize collections rate, aged receivables, and any credit watch tenants. Flag tenants >60 days past due.

Step 5: Capital Expenditure Update

Summarize capex spend vs. budget, project status (on-track / delayed / over-budget), and remaining reserve balance.

Step 6: Produce Report

Generate asset-report-YYYY-MM.md with the following sections:

1. Executive Summary (3-5 bullet points: NOI, occupancy, leasing, collections, capex)
2. Financial Performance (NOI vs. budget, variance drivers)
3. Occupancy Bridge (beginning -> changes -> ending)
4. Leasing Update (activity, spreads, pipeline, expirations)
5. Collections (rate, aged AR, watchlist tenants)
6. Capital / Construction (spend, status, reserves)
7. Action Items

Write to deal context and update manifest.

QA Checklist

• Reporting period clearly stated
• NOI variance drivers identified (not just the variance amount)
• Occupancy bridge ties (beginning +/- changes = ending)
• Leasing spreads computed on both cash and GAAP basis
• Collections rate calculated and aged AR summarized
• Capex spend reconciles to budget
• All financial figures sourced from actuals, not estimated

Escalation Notes

• If actual P&L is unavailable, cannot produce this report -- ask user for data
• If budget is unavailable, report actuals vs. prior year only and note the gap
• If leasing activity data is missing, include the section header with "[NO ACTIVITY THIS PERIOD]" or "[DATA NOT PROVIDED]"