The Madison
| |93.8% Occupancy · $1,725 Avg. Effective Rent · $3.4M TTM NOI · 2019 Vintage
THE TTWELVE SIGNAL
AUGUST 19, 2026
ASSESSMENT
WATCH↘
Next 30–60 days: leasing should strengthen, but net rents won’t recover while six weeks free is buying occupancy.
SUBMARKET RANK
TOP 40%
Worst
Ave
Best
CRITICAL
Rents↘
New leases are signing 9.6% below prior rents.
~$185K
Annualized impact
WATCH
Collections↘
New delinquency is still rising despite payment plans.
$52K
60+ day balance
+$21K SINCE JUNE
WATCH
Leasing↗
Conversion has improved four straight weeks, but concessions remain elevated.
6 WEEKS FREE
Current concession
Income (NOI)
WATCH ↘
Budget
WATCH ↘
Occupancy
WATCH ↗
Renewals
STABLE ↗
Expenses
STABLE ↘
Maintenance
NOT ASSESSABLE
Experience
STABLE →
DSCR 1.18x
WATCH ↘
Collections
18 DAYS OPEN
New delinquency continues to rise.
Management started payment plans three weeks ago.
NO IMPROVEMENT YET
• Follow up on past-due accounts over 60 days
• Confirm execution of payment plans
• Review delinquency trend weekly
Maintenance
12 DAYS OPEN
Digital locks are failing.
Affected Service entrance door · 4th floor · 5th floor
Vendor is scheduled to replace affected locks this week.
NOT RESOLVED YET
• Confirm vendor completion
• Test all affected locks
• Establish preventive maintenance schedule
RESOLVED · 37 DAYS
Insurance premium double-billed · Credit posted in July financials.
The TTwelve Signal is an independent assessment based on information available to TTwelve as of the date shown. Source information may be incomplete or inaccurate, and the Signal may contain errors or omissions. Assessments, estimates, and calculations may change as new information becomes available and are not predictions or guarantees of future results. The Signal is not investment, legal, tax, or accounting advice.
ttwelve.co
The Madison is a fictional property. This is illustrative and does not represent any actual clients or results.
4CURRENT 1STALE 3MISSING 8TOTAL
Maintenance cannot be assessed.
| REPORT | STATUS | LAST RECEIVED | REPORT AGE | NOTES |
|---|---|---|---|---|
| Operating Statement | CURRENT | AUG 12 26 | 7 DAYS | accounting@managementco.example |
| Rent Roll | CURRENT | AUG 15 26 | 4 DAYS | reports@managementco.example |
| Collections Aging | CURRENT | AUG 15 26 | 4 DAYS | accounting@managementco.example |
| Leasing Activity | CURRENT | AUG 17 26 | 2 DAYS | leasing@managementco.example |
| Renewal Report | STALE | JUL 20 26 | 30 DAYS | reports@managementco.example |
| Work Orders | MISSING | — | — | — |
| Make-Ready / Turnover | MISSING | — | — | — |
| Preventive Maintenance | MISSING | — | — | — |
ttwelve.co
The Madison is a fictional property. This is illustrative and does not represent any actual clients or results.