The FP&A calendar for property firms: what to do weekly, monthly, quarterly

FP&A in a property business is not a once-a-month "variance exercise." It is a rhythm that keeps a portfolio stable while the real world moves underneath it-collections timing, leasing churn, capex surprises, interest rates, lender reporting, and SPV-level constraints.

A good FP&A calendar does three things:

1. Prevents surprises (cash shortfalls, covenant squeezes, missed leasing risk).
2. Creates repeatable decisions (what to fund, what to pause, what to push).
3. Scales across many SPVs without turning into spreadsheet sprawl.

Below is a practical calendar you can copy into your operating cadence. It is written for property firms running multiple assets across multiple SPVs-where close, reporting, and planning need to work together.

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The rule that makes this calendar work: one truth, three speeds

Most teams fail at cadence because they treat these as separate universes:

• Week = operational firefighting
• Month = accounting close
• Quarter = strategy and budgets

The fix is to run one portfolio "truth layer" (standardised definitions, mapped accounts, consistent KPIs), and then view it at three speeds:

• Weekly: liquidity + exceptions
• Monthly: performance + accountability
• Quarterly: trajectory + risk reset

If you are managing dozens of SPVs, this is exactly where a consolidated, standardised portfolio view matters-multi-entity consolidation, consistent roll-ups, and the ability to run budgeting/forecasting and scenario planning without rebuilding logic each cycle.

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The FP&A calendar at a glance

Cadence	Purpose	Outputs	Meeting
Weekly	Stay liquid, catch drift early	13-week cash, collections/arrears, occupancy/leasing signals, capex commitments, exceptions list	30-60 min "Portfolio Control" huddle
Monthly	Close, explain, decide	Consolidated dashboard, NOI bridge, asset ranking, rolling forecast update, investor/board pack draft	60-90 min performance review
Quarterly	Reset assumptions, manage risk	Reforecast, covenant headroom review, maturity wall, capex programme review, valuation lens, strategy actions	90-120 min quarterly steering committee

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Weekly: the "Portfolio Control" cadence

Weekly FP&A is not about perfect accuracy. It is about answering: "Where could we get surprised in the next 2-8 weeks?"

1) Liquidity checkpoint (13-week cash view)

What to do

• Refresh opening cash by SPV (and portfolio total)

• Split unrestricted vs restricted vs trapped cash

• Update the next 2-4 weeks of known payments:

  • debt service dates
  • payroll/overheads (if relevant)
  • large supplier runs
  • committed capex payments

Common failure mode

• Reporting "cash" without restrictions -> the portfolio looks safe until it is not.

Best-practice output

• A 1-page weekly liquidity summary:

  • "SPVs projected to go below minimum cash buffer"
  • "Large payments due in next 14 days"
  • "Transfers required / blocked / pending approval"

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2) Collections & arrears early-warning

What to do

• Track collections rate (cash received vs due)
• Review arrears aging (0-30, 31-60, 61-90, 90+)
• Flag tenant concentration (top delinquent balances)

Common failure mode

• Treating arrears as "property management detail" until it becomes a cash crisis.

Best-practice output

• A short exceptions list:

  • "3 tenants driving 70% of arrears"
  • "Asset X: collections down for 2 consecutive weeks"

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3) Occupancy/leasing signals (leading indicators)

What to do

• Track physical occupancy and leased occupancy (committed), clearly defined
• Review upcoming move-outs / lease expiries in the next 90 days
• Note leasing pipeline status (under offer vs signed vs commenced)

Common failure mode

• Month-end occupancy looks stable, but the next quarter is quietly deteriorating.

Best-practice output

• "Next 90 days leasing risk" list by asset:

  • units/area at risk
  • expected downtime assumption
  • incentive/capex implications

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4) Capex commitments check (not just spend)

What to do

• Update capex committed (approved/contracted) vs spent

• Identify decisions needed this week:

  • approve / defer / re-scope
  • funding source
  • timing shift risk

Common failure mode

• Only tracking capex after it leaves the bank.

Best-practice output

• A capex commitments dashboard:

  • committed next 4 weeks
  • committed next 13 weeks
  • discretionary vs mandatory split

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5) Weekly FP&A meeting agenda (30-60 minutes)

A simple structure that scales:

1. Liquidity (10 mins)
2. Exceptions (collections, occupancy, capex, debt) (15-30 mins)
3. Decisions + owners + due dates (10-15 mins)

The win: your week becomes decision-led, not report-led.

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Monthly: close + explain + re-forecast (repeatably)

Monthly FP&A is where you create confidence: numbers you trust, explanations you can defend, and actions you can execute.

To keep it scalable across SPVs, treat "portfolio reporting" as part of close-not a separate second project.

A practical month timeline (relative to month-end)

Days -5 to 0: Pre-close prep

What to do

• Confirm bank feeds/recs readiness
• Confirm rent roll / occupancy cutoffs
• Review expected large accruals and one-offs
• Update capex tracker and intercompany items

Output

• "Known issues going into close" log

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Days 1 to 5: Entity close (SPV level)

What to do

• Complete bank recs and core accruals

• Standardise treatment of:

  • capex vs opex
  • one-offs
  • management fees/recharges
  • intercompany balances

Output

• SPV trial balances ready for consolidation
• SPV close status grid (Green/Amber/Red)

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Days 4 to 7: Portfolio consolidation + performance pack

What to do

• Consolidate across SPVs using a consistent mapping layer

• Produce portfolio view:

  • revenue, opex, NOI
  • cash (unrestricted vs restricted)
  • gearing/LTV and debt cost directionally
  • occupancy and key operating KPIs

Output

• Consolidated dashboard + pack draft

Common failure mode

• Every month becomes a re-mapping exercise because account structures differ by SPV.

Best-practice reporting

• A standardised chart of accounts + mappings so all SPVs roll up cleanly, enabling repeatable portfolio dashboards and packs.

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Days 6 to 10: Variance review + rolling forecast update

What to do

• Run variance bridges:

  • vs prior month
  • vs budget (even if budget starts light)

• Update rolling forecast (next 3-6 months):

  • occupancy assumptions
  • arrears/collections assumption
  • capex timing
  • interest rate assumptions

Output

• "What changed + why + what we are doing" narrative
• Updated forecast and action list

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Monthly meeting agenda (60-90 minutes)

1. Portfolio headline: cash, NOI, occupancy, gearing (10 mins)
2. Top variances (exception-based, not line-by-line) (20-30 mins)
3. Forecast changes and risks (20 mins)
4. Decisions (capex, leasing actions, funding/transfers) (10-20 mins)

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Quarterly: reset assumptions and manage structural risk

Quarterly FP&A is where you stop drift turning into strategy failure. It is the cadence for the "slow-build" risks: refinancing, covenants, capex programmes, leasing expiry clusters, and portfolio trajectory.

1) Quarter reforecast (12 months forward)

What to do

• Refresh the 12-month plan using updated actuals and known events

• Revisit major drivers:

  • occupancy and leasing velocity
  • rent levels and incentives
  • capex programme timing
  • cost inflation
  • interest rates and hedge expiries

Output

• 12-month outlook with base / downside case

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2) Debt & covenant health check

What to do

• Review covenants at the level they are tested (often SPV/facility)
• Track headroom trends (not just current compliance)
• Refresh maturity wall (next 6/12/24 months)
• Review hedge maturity schedule and floating exposure

Output

• Covenant headroom dashboard + refinance action plan

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3) Capex programme review (value, timing, funding)

What to do

• Compare capex spend vs plan
• Review committed pipeline and approvals
• Confirm funding sources and timing constraints

Output

• Capex plan update (what proceeds, what pauses, what changes)

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4) Portfolio performance and "story" review

What to do

• Asset ranking and root causes:

  • NOI trends
  • occupancy and arrears
  • yield and return progress

• Check consistency of KPI definitions and reporting logic (so your trends remain meaningful)

Output

• Quarterly portfolio narrative and strategy actions

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The operating model: who does what (so it does not bottleneck)

A scalable FP&A calendar needs clear ownership:

• Finance (Controllership): close, reconciliations, integrity controls
• FP&A: forecasting, scenario planning, variance bridges, packs
• Asset management: leasing/capex decisions, asset narrative, execution owners
• Property management: operational inputs (occupancy, arrears, work orders, capex status)
• Leadership: decision-making, trade-offs, risk appetite

Key design: FP&A should not be the "data chasing team." Standardised inputs + mapped roll-ups + a consolidated portfolio view prevents the calendar collapsing into manual coordination.

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The minimum viable set of recurring deliverables

If you want this calendar to stick, standardise a small set of outputs:

Weekly

• 13-week cash view (with restrictions)
• Exceptions list (collections, occupancy, capex, debt)

Monthly

• Consolidated portfolio dashboard
• NOI / variance bridge
• Rolling forecast update (3-6 months)
• Investor/board pack draft (if relevant)

Quarterly

• Reforecast (12 months)
• Covenant + maturity + hedge review
• Capex programme review
• Strategy actions (asset-level and portfolio-level)

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Why this scales best with a consolidated portfolio layer

When you have many SPVs, your FP&A calendar is only as strong as your foundation:

• Multi-entity consolidation (portfolio view across SPVs)
• Standardised chart of accounts and mappings (clean roll-ups)
• Budgeting, forecasting, and cash flow planning on top
• "What if" scenario planning (rates, occupancy shifts, refurb programmes)
• Consistent investor/board packs and narrative commentary when needed

That is what turns FP&A from a sequence of spreadsheets into a repeatable operating system.

If your FP&A cadence is slowing down as your SPV count grows, we can help you implement a calendar that actually scales-weekly liquidity control, monthly consolidated reporting, and quarterly reforecasting-built on standardised mappings and a one-stop portfolio view across your SPVs.