PropAlly puzzles/ Puzzle #1
Spot the 3 mistakes
This August rental statement has three mistakes. How many did you find?
Fictional example
The answer
This owner was paid $201.80 too little.
The fee was charged on rent that never arrived, one water invoice was charged twice, and the payout didn’t match the statement’s own lines.
| Line | Shown on statement | Correct |
|---|---|---|
| Rent received, 4 weeks × $600 | $2,400.00 | $2,400.00 |
| Management fee 7.7% (on $2,600) | −$200.20 | −$184.80 |
| Water usage, invoice W-4471 | −$86.40 | −$86.40 |
| Water usage, invoice W-4471 | −$86.40 | $0.00 (duplicate) |
| Smoke alarm service | −$99.00 | −$99.00 |
| Net paid to owner | $1,828.00 | $2,029.80 |
The three mistakes
1. Fee on the wrong amount: $15.40
A 7.7% fee on $2,600 is $200.20, but only $2,400 was collected. On $2,400 the fee is $184.80.
2. The same invoice twice: $86.40
Water invoice W-4471 appears on two lines. Matching invoice numbers is the quickest way to spot this.
3. Payout doesn’t add up: $100.00
The lines on the statement add up to $1,928.00, but $1,828.00 was paid out.
Check your own statements
PropAlly keeps every statement line against the right property, so fees, duplicates and payouts are easy to check.
Start with one property freeAll figures on this page are a fictional example for illustration. They aren’t market averages, a tax calculation or financial advice.