Gross scheduled income
What a property would earn if every unit were rented at market rent all year, with no vacancy. A theoretical number used for underwriting.
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Part 1 of 4
Why a seller cares
Gross scheduled income is what a rental would earn fully occupied at market rent, a theoretical top line. A buyer's pro forma starts there and subtracts; a seller quoting it as actual income will be caught by the T-12.
Part 2 of 4
A simple example
Your fourplex's units would rent for $1,200 each at market: $57,600 a year scheduled. Actual collections last year were $50,400.
| The number | What it is |
|---|---|
| Gross scheduled income, $57,600 | Every unit, every month, at market |
| Actual collections, $50,400 | What happened, with vacancy and a below-market tenant |
| What the buyer underwrites | Somewhere between, with vacancy subtracted |
GSI is the ceiling. Buyers value the floor.
Part 3 of 4
What people get wrong
That scheduled means collected. Scheduled is what could be; the trailing twelve months is what was.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
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