MFR numbers- Gross Scheduled Income vs Gross Adjusted
Looking at the MFRs listed in my market the numbers include both GSI and Gross Adjusted Income. I took a sampling of 10 properties. The GAI usually runs up to 5%. The adjustment is not including the usual expenses such as taxes/insurance/utilities/maintenance/PM....is this allowing for a vacancy factor, or something else?
a few examples
http://www.redfin.com/WA/Seatac/19277-11th-Pl-S-98148/unit-2/home/2079493
http://www.redfin.com/WA/Seattle/9032-9th-Ave-SW-98106/home/2062828