DEAS prepares approximately four months after closing of the accounts the annual profit and loss accounts of the individual property.
Profit and loss accounts is a comprehensive account that includes all the expenses during the year that has been on the individual property and shall be paid by the tenants. The commercial lease law requires specification of the individual expenses, otherwise the entries will not be charged.
Typical expenses in the profit and loss statement:
- Property taxes
- Electricity for common installations
- Water and sewer fee
- Service subscriptions (heat, ventilation, elevator, CTS, guard, etc.)
- Repair and maintenance of common areas
- Repair, maintenance and renewal of joint installations
- Property care (janitor)
- The upkeep of common areas (stair cleaning and window cleaning)
- Taking care of green areas
- Cleanliness of parking areas
- Snow removal and salting
- Provision for the renewal of the common installations (heating systems, ventilation systems, lifts, CTS, etc.)
The total sum shall be allocated between the individual tenants typically after ratio. That is to say, after how big of a proportion the tenant's area is of the total area.
DEAS charge an advance payment of operating costs together with rent payment had, and when the annual accounts are, we settle on the basis of it.
This means that you as tenants can get an extra expense, if the total costs have been higher than the budgeted amount. Or you can get money back, if the cost has been less. In either case, we regulate in the earliest rent collection after the accounts deployment.