Non-recurring expense in operating stmts
Hi guys,

My manager wants me to figure out what the non-recurring expenses are from a property's operating statement. As I go through the items, would an expense like elevator maintenance be considered non-recurring since it's not a regular expense?
[{"id": "d5bus1e", "text": "That would usually be in the R&amp;M (repairs and maintenance) section, so it would be recurring. A non-recurring would be capital expenses like parking lot repair, roof repair, or hvac repair. ", "replies": [{"id": "d5bzzo8", "text": "Totally agreed - and what's very important to note here is that \"maintenance\" is an operating expense; with regard to the elevator, an elevator \"replacement\" would be an irregular, non-recurring expense. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "d5hn5l8", "text": "NCREIF classifies any expenses with a useful life greater than a year as capex.", "replies": [], "depth": 1}, {"id": "d69of2r", "text": "From a numbers standpoint, look for line items that have amounts that pop out. If R&amp;M is generally $3k a month for the year except it was $27k in September.....looks like they probably made a \"Capital Expenditure\" which should not be included in the Operating Expenses. The reason property owners include this is so they can pad their expenses as much as possible for tax purposes. The larger their expenses, the less taxable income they can show on their returns.", "replies": [], "depth": 1}]