Summary
Definition of Interim Income: Interim income refers to the income generated during the permitting or construction phase by leasing parts of the property not under development or utilizing other revenue sources.
Purpose of Interim Income: It is designed to offset development costs by tracking income streams like property leases or selling unused assets.
Implementation Steps:
- Set the start and end dates for income collection in the system.
- Enable or disable interim income in the dashboard.
- Project income timelines and align them with the construction schedule.
Key Features: The system automates checks to prevent errors in financial projections and calculations, ensuring a smooth process.
Insights Based on Numbers
- 14 Months Duration: The example project spans 14 months, with income starting a month after the project initiation. This emphasizes how interim income aligns with real-world project timelines to maximize benefits.