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Leveraged Breakdowns

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OpEx should be applied to total units, not just occupied units. Don’t dig into this too much, it’s just a high level assumption on average. Generally speaking, it’s hard to scale the majority of OpEx items up and down with unit-level occupancy (personnel, repairs, building services, taxes, insurance, etc.)


CapEx per unit should be multiplied by all units, yes.


Yes, feel free to occupancy-adjust other income.


jeowong—I’ll aim to review your model tonight.

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