Financials
Operating expenses are the recurring costs of running a property, such as repairs, insurance, utilities, and management fees.
Updated Sep 12, 2026
Operating expenses (OpEx) are the costs required to keep a property leased and functioning. They include maintenance, insurance, property taxes in many statements, utilities you pay, and management.
They do not include mortgage payments, owner draws, or most capital projects. Mixing those buckets inflates expense ratios and understates NOI.
Unitz categorizes expenses to the chart of accounts so OpEx, CapEx, and owner activity stay separate. See Financial Intelligence.
Budget vs actual (BVA) compares planned income and expenses to what actually posted, by account and period.
The general ledger is the complete set of accounts where every debit and credit is recorded.
Net operating income is rental revenue minus operating expenses, before debt service and capital expenditures.
See this in the product: Financial Intelligence
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