Variance explanation
The lines behind each variance, their sums, the comparable period, and the explanation given.
For property managers, asset managers and owners of multifamily buildings
A variance explained is not a repair finished.
Bring the monthly operating pack, the budget, the open work orders, and the covenant sections of your loan documents into one revisable Decision Update. Modyl explains the variance from the numbers you bring and keeps the corrective work open until the evidence shows it is done. Name the person who signs the owner update.
Request accessAccess is limited. A person reviews every request.
The job you bring to Modyl
Explain the month's variance, and see the corrective work through to evidence that it is done.
It starts when the monthly operating pack arrives, or a work order is marked complete.
Modyl works from the exports and documents you bring into the Room. It is not connected to your property management system.
Modyl checks
Confirms the property, unit count, and period match before comparing anything, then adds up the lines behind each variance.
Modyl prepares
Drafts an explanation for each variance from those sums, beside the one the property manager gave.
You get Variance explanation
Modyl asks
Asks the asset manager to settle a cost allocation or a disputed completion claim when the documents cannot settle it.
Modyl watches
When a revised export, an inspection report, or a photo of finished work arrives in the Room, reads it against the open items. A ticket marked complete without its evidence stays open.
You get Maintenance exceptions
Modyl checks
Reads the covenant tests in the loan documents you bring against the month's figures and the next test date.
You get Covenant worksheet
A person decides
The asset manager edits and signs the owner update, and the owner decides what to fund. Modyl does not send the update to anyone.
You get Owner update
The decision problem
Every month the export explains the number. Nobody checks whether the repair happened.
A repairs line runs over budget, the property manager writes a sentence, and the owner update repeats it. A ticket marked complete closes the question with no inspection behind it. Periods drift, so this month is compared with a month that had a different number of occupied units, and the covenant test that reads the same figures arrives as a surprise.
- 01
The same property, the same period
Property identity, unit count, and reporting period are confirmed before any comparison, so a variance is measured against a month that is actually comparable.
- 02
The explanation, with its sums
Each variance carries the ledger lines that produce it, added up from the export, beside the explanation the property manager gave. A sentence the sums do not support is marked that way.
- 03
Work orders that close on evidence
A completed ticket counts as done when the inspection, invoice, or photo the work requires is attached. Until then the corrective work stays open in the owner update, with its owner.
The reviewable artifact
A Decision Update that keeps corrective work open until it is done
The operating report tells the owner what happened. This record also says what is being done about it, and what would show it is finished.
Maintenance exceptions
Work orders marked complete without the evidence the work requires, each with the property manager who owns it.
Covenant worksheet
The covenant tests in the loan documents you bring, the figures each one reads, and the next test date.
Owner update draft
What changed, what is explained, and what is still open, for the asset manager to edit and sign.
Example of a held verdict. Not a customer record.
Held. The owner update cannot say the roof repair is done.
Missing proof
- The roof work order is marked complete, and no inspection report or invoice for the work is attached to it.
- The repairs variance compares this month with a month before twelve units came back online, so the two periods are not comparable.
A held verdict is a refusal to settle with the missing proof named. It is the state most tools cannot represent, and it is what makes a Decision Update worth reading when the answer is not ready.
What this does not manage
It does not dispatch vendors, does not approve spend, and does not connect to your property management system. It works from the exports and documents you bring. It does not report to your lender, and a covenant figure it computes is a check for you to confirm, not a certification.
What to bring: Bring the monthly operating export, the budget for the same period, the open and recently closed work orders with whatever evidence is attached, and the covenant sections of the loan documents. Leave resident personal data out.
Access
Request access to the cohort.
Request access for a bounded cohort of property and asset managers who need the owner update to say what is fixed and what is still open.
Access is by invitation today. A person reviews every request, and a request does not grant admission, an invitation, an account, a Room, entitlement, or payment access.