Rent build
Base rent, escalation profile, market reviews and incentive amortisation across the lease term.
Use case · operating
The cash the asset prints, month by month.
Popurise will forecast operating cashflow across the hold: rent, occupancy, opex, capex reserve and NOI on a monthly grain. The same project that carries the development feasibility will carry the operating period.
The job
A hold-period cashflow that respects the lease.
Operating cashflow is not the development cashflow. It is rent escalations, occupancy curves, opex inflation and the capex reserve, on a monthly grain across the hold.
Occupancy curve
Lease-up profile or stabilised occupancy with structural vacancy assumption.
Opex by line
Land tax, council rates, insurance, management, utilities, R&M each modelled and indexed.
Capex reserve
Per-unit or per-m² capex reserve across the hold, plus discrete refurbishment events.
NOI build
Monthly NOI rolling into annual, with margin reported alongside.
Hold-period cash
Net cash to equity after debt service, ready for the IRR build and the refi review.
When it matters
The moments the operating cashflow becomes the document.
Post-practical completion
Asset is built, leases are signing. The hold-period plan needs a cashflow, not a memo.
Refinance window
Senior facility comes up. The lender wants a monthly cashflow and an ICR profile.
Hold-period budget
Operator sets a five-year plan. The cashflow is the plan.
Capital partner update
LP wants monthly NOI, distributions and a refi readiness read.
Inputs and outputs
What drives the operating cashflow.
Inputs that drive it
- Rent schedule by unit or by space
- Escalation logic (CPI, fixed, market review)
- Lease-up or stabilised occupancy curve
- Opex by line, indexed
- Capex reserve and refurbishment schedule
- Senior debt rate, fees, amortisation
- Hold period
Outputs that matter
- Monthly revenue, opex and NOI
- Annual NOI with margin
- Net cash to equity after debt service
- ICR and DSCR profile across hold
- Capex schedule by year
- Refi readiness summary
How it will work
From lease and opex to monthly NOI, in four steps.
- 01
Set up the lease layer
Rent schedule, escalation logic, market reviews and incentive amortisation by unit or space.
- 02
Build the opex stack
Opex by line with indexation, plus the capex reserve and discrete refurbishment events.
- 03
Layer the finance
Senior debt rate, amortisation, fees and any refinance trigger.
- 04
Read the hold
Monthly NOI, annual roll, net cash to equity and the ICR and DSCR profile across hold.
Versus the alternative
An operating model that ties to the development.
Separate operating workbook
Two models, no reconciliation
- Operating cashflow built in a parallel file
- TDC and stabilised NOI never reconciled
- Refi review needs a fresh build every time
- ICR and DSCR live in a third workbook
Popurise
Operating in Popurise
- Operating cashflow lives in the same project as the feasibility
- TDC and stabilised NOI tie back to one source
- Refi readiness ships with the cashflow
- ICR and DSCR computed by the engine, monthly
Be first when operating cashflow goes live.
No spreadsheets. No setup. Fourteen-day free trial, no credit card.