Definition Error In TCI Encyclopedia
The TCI encyclopedia has the following as a definition for Net Operating IncomeA property’s gross income (scheduled rents and 100% vacancy factor) less its total annual expenses (including management costs, utilities, services, repairs, a vacancy factor and a credit loss factor) plus any additional other income (vending machines, coin laundry operations, etc.). Principal and interest payments on the mortgage and tax liability are not included. I believe the definition should read: A property’s gross income (scheduled rents at 100% occupancy) less its total annual expenses...[ Edited by DaveT on Date 02/14/2004 ]
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