The Management Summary Report for Accrual helps you track the financial health of the business, identify areas for improvement, and make informed decisions regarding collections and financial management strategies. It provides a bird’s eye view of a property by detailing the rental income, occupancy, move-in and move-out activity, delinquency rate, prepaid liabilities, liability recognition, allowances, revenue earned via cash, etc. 

To view the MSR Accrual Report, expand the Management Reports folder from your Reports Library and click MSR Accrual. Alternatively, you can use the Search bar available in the Reports library.

Provide the following information: 

• Report Time Period - The timeframe for which you want to view the data, i.e. Today, yesterday, etc. You can also specify a particular date by clicking Custom Date from the drop-down list and selecting the required date from the calendar. 

• Property - The property for which you want to view the associated data in the report. 

Click Run Report. 

Note: Since the MSR Accrual is a Static report, it cannot be customized in terms of adding or removing fields, filtering and sorting data, etc., and it is downloaded to your computer in the specified format. 

Alternatively, you can run the report by clicking Run Report from the corresponding vertical ellipsis. 

MSR Accrual Report Sections

Rental Income 

The revenue generated by a property from renting out storage Spaces to tenants. This includes monthly rents, revenue obtained from coverage, merchandise, fees, etc. 

The report provides the rental income for different timeframes that can help you track the short-term as well as the long-term performance of your property: 

• Month-to-date (MTD) - The rental income generated from the beginning of the current month up to the present date. For example, if today's date is August 11th, the MTD income would be calculated by summing up all the income earned from August 1st to August 11th.

You are also presented with the MTD value on the same day last month. This can help you track short-term performance and make timely business decisions based on current income figures.

• Year-to-date - The total rental income earned from the beginning of the current calendar year up to the present date. It involves summing up all the income generated from 1st January of the current year up to the present date, i.e. 11th August. 

The Year-to-date income can help you access your property’s performance over a longer time frame and understand how it's tracking towards its annual revenue goals.

Occupancy 

This section displays your property’s current occupancy percentages by square foot, spaces, and economic occupancy. 

• SQ FT - Utilization of your property based on its square footage. You can access how efficiently a Space is being utilized from this and make decisions about lease agreements, rental rates, space optimization, etc. 
• Spaces - Measurement of occupancy based on the number of Spaces occupied compared to the total number of Spaces available. This can provide insights into the demand and utilization of rental Spaces.
• ECON - Economic occupancy specifies the percentage of Spaces within a property occupied by paying tenants compared to the total number of Spaces available. ECON takes into account both occupied and unoccupied Spaces that are generating rental income, as well as any promotions or discounts offered to tenants. It's a great way to gauge the actual revenue-generating potential of a property.

All these percentages are available in the report for the current date as well as YOY (Year-over-Year). With a YOY comparison,  you can analyze how much the occupancy has changed (positively or negatively) over a year. Positive YoY changes indicate growth or improvement, while negative YoY changes indicate a decline.

For more details regarding the occupancy of your property, refer to the Occupancy Statistics Report.

Activity  

A snapshot of the total number of move-ins and move-outs at your property on a Month-to-date (MTD) and Year-to-date (YTD) basis.

You can also see a net value of the activity at your property that is calculated by subtracting the number of move-outs from the move-ins. A negative net value indicates that there is more number of move-outs than move-ins. 

Leads 

This section displays the total number of leads you have received via various sources, i.e. website, phone call, email, walk-ins, third-party integrations, etc., along with the number of lead conversions on the current date, Month-to-date, and Year-to-date.

Payments & Refunds  

This section details the payments and refunds at your property based on the different payment methods offered, i.e. Cash, Check, Gift Card, ACH, and Debit/Credit cards. The values are mentioned for the current day, the current month-to-date, and Year-to-date. 

You can also see the number of NSFs, i.e. Non-sufficient funds, indicating that payment could not be completed due to insufficient funds in the tenant’s account. Along with the reversals done when your tenants made an advanced payment, a payment got deducted from their accounts more than once, etc.

Income 

The income generated by your property via various sources such as rent, insurance/protection, fees, merchandise, and other miscellaneous sources. The values are mentioned for the current day, the current month-to-date, and Year-to-date. 

Accounts Receivable 

The Accounts Receivables (AR) section includes all amounts you should receive from leases within the specified time frame. This includes both active and closed leases. AR represents the total amount yet to be collected for services or products provided.  

• AR Balance (For Active Leases):
  • Includes all amounts due from delinquent tenants with active leases.  
  • This balance is not constrained by any date range.  
  • It matches the total in the Delinquency by Days section of the MSR report.  
• AR Balance (For All Leases):  
  • Includes all amounts due (without date constraints) from all tenants, including those who have moved out.  
  • It matches the total in the AR Aging section of the MSR report and the Balance Due column in the Accounts Receivable dynamic report.  

You can reconcile the AR report with the Accounting Export by:  

• Downloading the Accounting Export for the corresponding period (e.g., day, month, or year).
• Comparing the Accounts Receivable GL Code entries in the Accounting Export with the MSR data.  This process ensures accuracy and alignment between the reports.  

Pre-paid Liabilities  

Prepaid Liabilities represent payments collected in advance of an invoice’s due date. A payment is considered prepaid if it is received on or before the invoice’s due date (i.e., payment date ≤ due date).  
The report date, Month-to-Date (MTD), and Year-to-Date (YTD) in this section are based on the payment date.  
Example:  

• If a tenant pays $1,200 on January 1st for space costing $100 per month:  
  • The MTD column in the Prepaid Liabilities section of the MSR report for January displays $1,200.  
  • The YTD column also displays $1,200, as the payment was received in January.  
  • In subsequent months, the YTD column continues to reflect the $1,200 payment, showing the original amount received in January.  

Prepaid Liabilities Balance (Overall) includes all prepaid amounts collected over the account's lifetime, without any date constraints. It provides a comprehensive view of all advance payments received, regardless of their due dates.

If you want to view only the prepaid balance—payments made before the invoice due date, where the due date has not yet passed—refer to the MSR Detail - Liabilities Summary Report (Hummingbird Static Report) or the Liabilities tab in the MSR Summary Report (Excel version).

Liability Recognition 

Liability Recognition applies specifically to Prepaid Liabilities, indicating when a prepaid amount transitions into a recognized liability. This occurs once the invoice due date has passed, reflecting the monthly amount due as a recognized liability.  

• Example :
  • January:  
     - A tenant pays $1,200 upfront.  
     - In the Liability Recognition section for January the MTD and YTD columns show $100, representing the amount due for January, as its due date has passed and is now recognized.  
  • February: 
    - An additional $100 becomes due.  
    - In the Liability Recognition section for February the MTD column show $100 (February's due amount) and the YTD column  display $200, accumulating $100 each from January and February.  

Recognition is due-date driven. For example, if a payment is made on September 10th for an invoice due on October 15th, the payment remains under Prepaid Liabilities until October 15th. After October 15th, the amount due for October is transferred to Liability Recognition.  

The Prepaid Liabilities section now includes the total amount of prepaid funds collected up to the report date, showing all payments made on or before their respective invoice due dates.  

• Example:  
  If a tenant pays $1,200 on January 1 for a space costing $100 per month:  
  • In January, the MTD (Month-to-Date) column in the Prepaid Liabilities section will show $1,200.  
  • The same amount will appear in the YTD (Year-to-Date) column since it was received in January.  
  • For reports pulled in subsequent months, the YTD column will continue to reflect the original $1,200 payment, showing the cumulative prepaid amount over time.  
• Viewing Prepaid Balances:  
  • To see only the prepaid balance where the due date has not yet passed, see the MSR Detail - Liabilities Summary Report (Hummingbird Static Report) or the Liabilities tab in the MSR Summary Report (Excel version). 
  • To view the total prepaid funds collected as of a specific date, use the Prepaid section in the MSR Summary Report.  

Deposit Balance 

This section highlights the security and cleaning deposit balances held by the property for various tenants. You can see the number of each deposit and their associated amount. 

Delinquency by Days 

This section provides information on delinquent tenants and shows data based on the days they are past due, i.e. 0-10 days, 11-30 days, greater than 30 days, etc. You can see the number and percentage of such tenants, and their associated past-due amounts.

Understanding a Count of 0 with a Positive $ Amount in MSR Delinquency by Days  

In the MSR Delinquency by Days report, the Count column is based on the lease level, while the $ Amount column is based on the invoice level. This difference can result in a count of 0 appearing alongside a positive dollar amount.  

How It Works:  

• A lease can have multiple late invoices.  
• The Count column reflects the lease based on its oldest unpaid invoice, counting it only once in the bucket for that invoice.  
• The $ Amount column reflects all unpaid invoices, spreading their amounts across the respective delinquency buckets based on their individual due dates.  

Example:  
In the MSR for StoragePRO SP199, where the calculation is highlighted:  

• The Count column includes a lease only once in the bucket corresponding to the oldest unpaid invoice.  
• If that lease has additional invoices in other buckets, their amounts are included in the $ Amount column. Still, the lease is not recounted, as it is already counted in the earlier bucket (moving right to left).  

This ensures that the count reflects unique leases while the dollar amounts accurately represent the total outstanding balances across all invoices.

If a lease has invoices spread across six different ranges, but the oldest invoice is 202401-1-1447 for $275.25, it will be counted in the 180–360 days range in the Count column.

The Count column reflects each lease only once, based on the range of the oldest unpaid invoice.

However, the $ Amount column includes all outstanding invoices, regardless of range.

If invoices contributing to the dollar amount in later buckets belong to leases already counted in earlier buckets, the count in those later buckets will show 0.

Allowances 

The Allowances section displays the current date, month-to-date, and year-to-date concessions given to your tenants. It shows all the discounts/promotions, fees waived, and bad debt write-offs at your property. 

Credits and Adjustments 

This section details any adjustments, i.e. credit transfers or refunds made to tenant accounts that result in a decrease in the amount owed by the property. The credits and adjustments are displayed for the current date on a month-to-date and year-to-date basis, thereby providing adjustment trend insights over time.

Cash Deposit by Product 

The breakdown of cash deposits received for different products or services the self-storage property offers. These products include the rental amount, insurance/protection, fee, merchandise, etc. 

This section helps the property managers view the revenue generated from tenants paying cash for renting Spaces or purchasing related services. This also gives them insights into which products or services generate the most revenue for the self-storage business. 

Performance Indicators 

Metrics that help measure and evaluate the performance of your property, i.e., the number of tenants enrolled in autopay, those who opted for insurance/protection from you, the number of overlocked spaces of delinquent tenants, and the tenants whose rents have not been changed in the past 12 months.

Rent Change Summary 

This section provides details of rent changes for Spaces at your property. These changes in rent occurred due to lease renewals, market fluctuations, etc.
You can see the number and percentage of rent changes and the Rent Variance i.e. the dollar difference between the original rent and the new rent.  

Leads 

This section displays the number of leads from various sources, i.e. web, walk-in, phone, etc. It also shows you how many of these leads got converted to tenants. 

Space Statistics 

This section provides data pertaining to the occupied and vacant Spaces at your property, including the average size of a Space in SQ FT, the average rent of a Space, and the average rent per SQ FT. This information can be helpful to you in making informed decisions about rent pricing, maintenance priorities, maximizing the financial performance of the property, etc. 

Space Occupancy 

This section gives you a detailed breakdown of your property’s Space occupancy status. You can see the total number and percentage of Occupied, Vacant, Reserved, and Complimentary Spaces from here. You can also find the square footage and percentage of total rentable Space for each category.

Complimentary Spaces are those that are strategically designed to work well together, providing convenience and additional benefits to your tenants. These Spaces are typically located in proximity to each other and may offer features that enhance their functionality as a set, for example, dedicated packing and unpacking stations near a Space to enable tenants to pack and unpack their belongings efficiently, locker-style space accompanying a 10x10 Space, etc. 

Rental Activity 

A quick snapshot of move-ins, move-outs, transfers, and reservations for the current date, the current month to date, and the year to date are included in the Rental Activity section.