Notes on leasing, measurement, and growth.

Net operating income, or NOI, is one of the most important measures of a multifamily property's financial performance. It represents the income a property generates after accounting for its normal operating expenses, but before expenses related to financing, taxes, depreciation, and capital improvements. For apartment owners and operators, NOI provides a relatively straightforward way to measure how well a property is performing as an operating business. How Is NOI Calculated