Portfolio monitoring
Ongoing measurement across a held portfolio: yield on cost by asset, expense drift, lease expiry exposure, and the refinance window on each loan.
Why it is done this way
A portfolio hides its problems in the average. Eleven doors performing and one bleeding shows up as a portfolio that is slightly below plan, which is easy to explain away for four quarters.
Measuring per asset against its own acquisition basis is what surfaces it. Yield on cost does not move when the market moves; it moves when the asset does.
The second thing monitoring catches is expense drift. A management fee that quietly went from eight percent to ten, a landscaping contract that renewed with an escalator, an insurance renewal after a regional loss year. None of these is dramatic. Together they are a point of cap rate.
How it runs
Set the baseline
Your actual acquisition basis, actual capital spent, actual current rents. Yield on cost is measured against what you paid, not against what it is worth now.
Ingest monthly
Operating statements in, normalised to one chart of accounts so month twelve is comparable to month one.
Flag drift
An asset whose expense ratio has moved four points in six months is telling you something. Usually it is turnover, occasionally it is a leak — literally.
Look forward
Lease expiries and loan resets on the same calendar, because they interact. Three expiries in the month before a rate reset is a liquidity event, not a coincidence.
Questions we are asked
Do you replace my property manager’s reporting?
No — we normalise it. A manager reports on their own chart of accounts; four managers report four different ways. We put them on one basis so the portfolio can be read as a portfolio.
Do you need access to my accounting system?
No. Monthly statements as PDF or CSV are enough. We do not require write access to anything.
Not investment, tax or legal advice. All returns shown are estimates produced by a model from assumptions you can change, not offers, appraisals or guarantees. Real results differ. Consult your own licensed advisers before acting.