Effective Gross Income definition

Effective Gross Income means the positive annualized amount of the Gross Potential Rent, net of the Concessions, subject to the Vacancy Rate, minus Bad Debt, plus the Acceptable Other Income.

Effective Gross Income means the sum of (a) total monthly base rent payable, as of the applicable date of determination and at the Net Effective Rental Rate, by tenants under Approved Leases multiplied by twelve (12), excluding security or other deposits, late fees, lease termination or other similar charges, delinquent rent recoveries, unless previously reflected in reserves, or any other items of a non-recurring nature; plus (b) monthly expense reimbursements payable by such tenants multiplied by twelve (12).

Effective Gross Income means the sum of items (a) and (b) in the definition of Net Operating Income.

Examples of Effective Gross Income in a sentence

• Sales History (Past 3 Years): None noted Market Exposure: Unknown Verification Source: Confidential Date: September 29, 1998 Comparison Data --------------- Sale Price/Space: $21,875 Effective Gross Income Multiplier (EGIM): 8.24 Overall Capitalization Rate (OAR): 7.89 Comments The income and expenses were estimated from percentages provided during verification.

• Stabilized Underwritten EGI ($) U/W Cash Flows The Stabilized underwritten Effective Gross Income.

• Although there are variations, apartment property sales are often analyzed using four unit-of-comparison indicators: o Price per unit o Gross Income Multiplier or Effective Gross Income Multiplier o Price per Rentable Square Foot o Price per Room Price Per Unit Method: The price per unit method is most often affected by unit size, condition, overall functional utility, and location of a property.

• Effective Gross Income means a property’s potential gross rental income plus other income less vacancy and credit costs for any applicable period.

• The amount remaining after deducting Project Expenses, a property management fee equal to at least three and one-half of one percent (3.5%) of Project Effective Gross Income and a replacement reserve of at least $150.00 per Unit from Project Effective Gross Income.

More Definitions of Effective Gross Income

Effective Gross Income means all collected rental income from all Properties, plus other reoccurring Property income.

Effective Gross Income means gross potential rent (including proceeds of rent loss insurance), due but unpaid rental subsidy and other income collected from the residential units at the Project, less a vacancy rate. For restricted units, the Servicer will underwrite gross potential rent at the lower of restricted (other than for units receiving project-based operating subsidy), actual or market rent levels. Unrestricted units will be underwritten at the lower of market or actual rent levels. Gross potential rent will be reduced by any current, existing or future tenant rent concessions. Other income shall be on a reoccurring or stabilized basis including income collected from garbage, parking, laundry, telephone, cable, or data provider fees, clubhouse revenues, pet and late fees, as determined by the Servicer in its discretion. Other income shall not include interest income, commercial income, tenant deposits and other non-residential related income.

Effective Gross Income shall have the same meaning as “Revenue” in the Loan Note (Attachment 8B of the DDA).

Effective Gross Income means (i) the actual gross rental income of the Property, supported by a rent roll in form and substance acceptable to Bondowner Representative in its reasonable discretion, plus (ii) other income from the Property, supported by evidence of such income acceptable to Bondowner Representative in its reasonable discretion, minus (iii) if the Property is leased beyond the underwritten stabilized occupancy, an amount representing a five percent (5.00%) vacancy factor.

Effective Gross Income. Not Available EXPENSES: Not Available

Effective Gross Income shall have the meaning set forth in the definition of the term “Lockbox Trigger Event”.

Effective Gross Income means, for all Facilities, the Effective Gross Income as reflected on the operating statement, prepared and provided monthly by the Sellers.