Rent Roll Definition
The rent roll is an all-purpose document that can be used by buyers and sellers, property managers, real estate investors and landlords, as well as lenders. While the Rent Roll report provides a detailed view of the financial status of each unit, it does not focus on balance details, arrears details and payment schedule. The data in the report is rather used to verify the current rental charges and to analyze the gain/loss for the units in the properties based on vacancy status and comparison of rent charges (asset utilization) as compared to the local or broader market.
The report represents the detailed view of each unit which includes market rent, actual rent, vacancy loss and loss to lease amount if the unit is not rented or if there is any difference in market rent vs actual rent.
Also the report will give an idea of different charges such as Pet, Locker, Move In Deposit, Move Out Deposit. The report will also show count of total number of days a Unit has been vacant.
Important to mention, that the rent roll reflects the current state in numbers, not the future charges that might be generated by the billing process. Future charges have a greater than zero probability not to be realized gains (e.g. renewal may not go through, although not likely as eviction, lease termination can still legally happen). In other words, rent roll reflects the charges that have been or imminently will be generated within the current billing cycle. The only reference to the future state in rent roll is not in numbers, but in status, as in future rented.
While the Rent Roll provides a broad look into leasing data, there are few particular column totals that display important KPIs for the analysis of leasing performance including the utilization of the assets and the comparison to the overall market. For example, Vacant, future rented units do not have any rent and feature charges, but future rented status is helpful for the stats and KPIs to analyze the state of the business.
KPIs and Analytics
The report provides the important analytical data in form of KPIs to property management companies and owners.
For example, Loss to Lease is an important term all real estate investors should be aware of and is a good indicator of the strength of the real estate submarket. In some cases, it is also an indicator of potential issues with property management activities or an outdated property.
Other important KPIs include:
Market Rent, also known as Gross Potential Rent, is is the rent price that could be charged based on similar units in the same submarket.
Vacancy Loss, is market rent for the total vacant units during the period that they are vacant.
Arrears, total unpaid charges past due date, also known as Credit Loss. If a renter or tenant does not pay their rent to you as the landlord, that's credit loss. It's the money you lose from your gross potential income.
Improving the Total Loss To Lease and Total Vacancy Loss for any property results in a positive cash flow if done carefully, avoiding the rise in vacancy. It calls for investing in improvements/maintenance and management of the property, which evidently results in the increased value of the property overall. These KPIs are important in case of property evaluation for the acquisition and to measure property performance.
See full list of KPIs in Rent Roll Attributes, Column KPI (Y).
Rent Roll Parameters and Filters
| Parameter | Description |
| As of Date | Date for which the report was calculated. |
| Active Leases Only Y/N | Include only active leases or all. Note - if set to yes, key total KPIs such as Total Market Rent, Total Vacancy Loss, Total Loss to Lease will be calculated for active leases only, other leases/units will not be included. |
| Buildings | List of buildings is included in the report. |
| Exclude Internal Labels | Units with internal labels are excluded. Internal labels may be set for “dummy” units that may be excluded from various reports, for instance parking lots or other assets that may be set as units in case the lease needs to be created for them. |
| Exclude Marketing Labels | Units with marketing labels are excluded. |
| Economic Status | If not set, all statuses included. If specific values are selected, the report will be produced for selected types of units only. For example, if selected all except Off Market, the Off Market units will not be included in the report. |
| WaitList Units Y/N | If set to No, Waitlist units will be excluded. This is a good practice if there are waitlist units in building/portfolio. Waitlist units are not the real units and may skew the calculation, if included. |
| Suspended Units Y/N | Similar to Waitlist units, suspended units will be excluded if set to No. |
| Owner Selected/Left Blank | If this field is left blank, the report will generate for ALL owners by default. If specific Owners are selected, report will generate Units (Leased/Vacant) under that Owner only. |
Rent Roll Attributes
| Attribute | Total | KPI | Questions |
| Property Code | |||
| Unit | Units | All units | |
| Units in arrears | Total Units with non zero arrears | ||
| Units vacant | Total vacant units, not counting future rented | ||
| Units future rented | Total future rented units | ||
| Floorplan Name | |||
| Tenant ID | Primary tenant only | ||
| Tenant Name | Primary tenant only | ||
| Market Rent | Y | Y | Set in PropertyVista, or loaded from other sources (e.g. YieldStar). Market Rent is the rent price that could be charged based on similar units in the same submarket. Total market rent for all units in your portfolio is also referred to as Gross Potential Rent |
| Actual Rent | Y | Y | Including Rent Billable Item Adjustments, Concessions and Lease Adjustments with same AR type as rent. When a unit is noted as “Future Rented” the charges on the account should not show in the current month. |
| Rent Taxes | Rent Taxes (US) + Rent Adjustments Taxes | ||
| Future Rent Date | If set, the vacant unit is future rented | ||
| Vacancy Loss | Y | Y |
Total market rent for the total vacant units during the period that they are vacant. Vacancy Loss cannot be negative. Calculated as: SUM(market rent) for all vacant account. All future rented are considered vacant, even if rented in the current month (after report date). |
| Loss to Lease (Rent Only) | Y | Y |
Loss to Lease (Rent Only) is defined as the difference between an occupied unit’s market lease rate and the actual lease rate, including all concessions and adjustments of same AR type as actual rent, before taxes. If negative, this is Gain to Lease. |
| Loss to Lease (All Charges) | Y | Y |
Loss to Lease (All Charges) is defined as the difference between an occupied unit’s market lease rate and all charges, before taxes. Calculated as Loss to Lease (Rent Only) - SUM(Total Parking+Total Locker + Total Pet + Total Other Charges). If negative, this is Gain to Lease. |
| Locker | Y |
Including Locker Billable Item Adjustments, Lease Adjustments with same AR type as locker. |
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| Pet | Y |
Including Pet Billable Item Adjustments, Lease Adjustments with same AR type as pet. |
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| Parking | Y |
Including Parking Billable Item Adjustments, Lease Adjustments with same AR type as parking. |
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| Other Charges | Y |
All other charges |
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| Other Taxes | Y |
Non rent charges taxes |
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| Deposit LMR |
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| Deposit Move In |
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| Deposit Security |
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| Total Deposits | Y |
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| Total Deposit Interest | Y |
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| Availability |
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| Days Vacant |
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| Move In Date |
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| Lease Start Date |
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| Lease End Date |
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| Lease Term Type |
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| Last Rent Increase Date |
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| Increase Amount |
Last increase amount |
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| Arrears | Y | Y |
Total unpaid charges past due date, also known as credit loss |
| Balance |
Total unpaid charges |
Generating Rent Roll Report
1. Go to Reports → Rent Roll
2. Click on New Rent Roll Report Button to view popup form
3. On the form the date field will display current date by default. Rent Roll report cannot be run for dates in the future. Running the report for dates in the past require the Rent Roll Data Update process to have been run on those days. This process is not automatically run in our test environments.
4. Enter the specific parameters as filters and click on Generate button to generate the report.
5. Report will be generated after a short wait and will look as below:
6. Once the report is generated, it can be exported to a spreadsheet file using the Export button.
7. Report can be deleted from the Actions dropdown.