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How does a turn scope budget affect my expenses?

Typically, Owners make a contribution to their Great Jones account for an approved turn budget. These get held as a reserve until all invoices for the turn have been paid.

When you approve a budget provided for a turn scope, you will be asked to make an Owner Contribution to your account to cover the expected cost of the turn if the cost of the turn exceeds your rental income. In instances where the cost of the turn does not exceed your rental income, you may still want to make an Owner Contribution in order to track the expenditures separately from your rental income.

Once funds clear, this contribution amount will appear under the Cash Requirements section of your monthly statement alongside the line-item labeled Total Reserves. As invoices for your turn are posted and paid in your Expenses, the amount in your Total Reserves will be depleted until the turn is complete.