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Home · Operator Statement Reviewer

Operator statement.
Reconciled in your seat.

Paste a flex-office operator's monthly P&L; the tool reconciles the management agreement — revenue fee, FM fee, capex PM fee — calculates the profit-share split against a minimum-IRR hurdle, and flags compliance and opex anomalies. Built for asset managers and capital partners running flex under a management agreement.

▲ Country — tax & rules adjust
Country selection drives the trading-vs-passive corporate tax classification used in the post-tax investor net.

Inputs · operator statement

📂 Saved statements (stored in your browser, this device only)
No saved statements yet. Click Save current to bookmark this one.

Asset & reporting period

Single calendar month. Tool annualises for the IRR hurdle test.

Contract & dates

Date the management agreement starts.
Initial term in months. —
Date the first reportable month begins.
How often the operator submits performance reporting.

Key contacts · operator

Used for the “Request reporting” mailto below.

Key contacts · owner / asset manager

Cc'd on the request to the operator.

Whole building & flex allocation

Total lettable area of the whole asset.
Net lettable area allocated to flex. —

Building photo (optional)

Embedded onto the report cover. Auto-downscaled to 1600px before storing in your browser.

Executive summary

Saves with the statement. Appears on the PDF cover before the reconciliation tables.

Upload operator reporting pack

The parser scans the file for known field names (Revenue, Anchor rent, Property tax, Service charge, Operating budget, Occupancy, Desks, etc.) and pre-populates the inputs below. Two-column “Field / Value” layouts and header-row layouts are both supported. Download blank template to send to the operator.

Operator statement · revenue this period

Desk rental + meeting-room minutes + extras as reported by operator.
Direct to investor; not subject to operator revenue fee.
Avg desks rented over the period (used for per-desk benchmarks).
Avg occupancy as reported by operator.

Operator statement · opex this period

Energy, cleaning, security, M&E maintenance, site staff.
Anything outside the three lines above.

Management agreement · fee terms

% of gross flex revenue. Standard MA: 12–18%.
Markup on actual operating costs. Standard MA: 8–12%.
Set to 0 for steady-state months. Set to actual capex spend in fit-out / works months.
% on works cost. Standard MA: 10–15%; 0% if investor self-PMs.

Profit-share terms & hurdle

Investor receives 100% of return up to this; surplus split above.
Operator's share of surplus above hurdle. Standard MA: 30–50%.

Reporting performance · this period

Per MA — usually 10–15 days after period end.
Date the operator delivered the statement. Leave blank if not yet received.
—

Period context · optional benchmarks

If set, tool flags ±10% deviation from budget.
If set, tool flags >20% opex overrun by line.

Actions

Request reporting opens an email to the operator (and cc's the owner contact) with a pre-filled body, the asset and period, the due date, and a link to this tool with the property and period pre-populated. Download template exports the blank reporting structure as a CSV for the operator to complete and email back — you then upload that file in the Upload operator reporting pack section to auto-populate the form.

Output · live

Net to investor · this period
—
post-tax, post-fees, post-share
Operator total fees
—
rev fee + FM fee + capex PM
Annualised period yield
—
period × 12 ÷ allocated value
Hurdle status
—
vs minimum-IRR threshold

Reconciliation · revenue → fees → opex → tax → net

Gross flex revenue—
+ Anchor rent received—
Total revenue (period)—
− Operator revenue fee —
− Operating costs (actual)—
− Operator FM fee on opex —
− Capex this period (incl. PM fee)—
Pre-share net (period)—
− Operator profit share—
− Corporate tax —
Net to investor (period, post-tax)—

Profit-share calculation · period-annualised

Pre-share net (period)—
Annualised pre-share return on allocated value—
Minimum-IRR hurdle—
Surplus above hurdle (annualised)—
Surplus € for the period—
Operator share —
Investor net of share—

Compliance & anomaly flags

  • Enter the operator statement above. Flags will appear here as data lands.
How this is calculated. Operator gross revenue is reduced by the operator revenue fee (% of gross). Actual opex is reported by the operator and the FM fee is applied on top. Capex this period is paid by the investor, with the operator's PM fee capitalised on top. Pre-share net is annualised against the allocated flex value to compute period-annualised yield. If yield exceeds the minimum-IRR hurdle, the surplus € for the period is split between operator and investor at the agreed ratio. Final net is the investor's post-share, post-tax cash for the period.