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Portfolio Growth, Property Management

What Is A Rent Roll And Why Is It Important For Real Estate?

A rent roll document provides landlords with a quick snapshot of their tenant base and income. It’s also an important document used in real estate transactions since many investors and banks request the report as part of their due diligence process. Because, of its versatility and utility it’s recommended that landlords keep an accurate, up-to-date rent roll for each of their properties and for their portfolio as a whole.

Rent rolls can be used for any type of income-producing real estate, including both residential real estate and commercial property. The information can also be used in some of the essential financial performance formulas that every landlord should know. For example, gross rent multiplier (GRM), capitalization rate, and internal rate of return (IRR).

With Landlord Studio you can instantly generate and share a range of professional customizable reports, including a rent roll report.

What Details Are In A Rent Roll?

The data on a rent roll can vary by property type. However, most will include the following:

  • Property information, such as the owner or management company, address, and property type.
  • Information on each unit such as the unit number, square footage, the number of beds and baths if it’s a multifamily property, and any other features or notes.
  • Tenant information including their name and contact details.
  • Lease details such as the lease term, monthly rent, security deposit, and additional fees.
  • Monthly and annual rental income summaries, which include any extra amounts paid monthly.
late rent

What are the main use cases of a Rent Roll?

Gain a quick overview of property performance and gross rental income

As we mentioned before the report gives a quick snapshot of the current gross rental income as well as showing tenancy periods and rent expected vs rent collected. This allows landlords to efficiently review their tenancies and income levels to get an understanding of vacancy periods, as well as comparing expected gross income over a time period to realized income.

Review current and past tenancies

Property managers and landlords can also use it to gain insight into the tenancy history of a property. This includes learning details of vacancies and length of vacancies, as well as reviewing lease expiry dates.

If a landlord does find a lease is expiring soon they can reach out to the current tenant to either offer them a lease extension or begin the process of showing the property and finding new tenants. This allows them to minimize vacancy periods.

Do market research

The rent roll includes important details like square footage, bedrooms, and bathrooms as well as rent amount. Having all these details in one report allows landlords to quickly compare their properties – or potential investments – against other similar properties on the marketplace. With this data they can ensure the property is a fair price, and establish an accurate and reasonable monthly rental amount.

Analyze potential investments

Because the rent roll provides a current snapshot of a property’s gross rental income, it’s a crucial document for evaluating a potential real estate investment.

Using Landlord Studio’s Rent Roll Template

A rent roll report is a crucial supporting document for real estate transactions because both lenders and buyers use them as part of their due diligence process. Because of the importance, landlords should have one for each property and the portfolio as a whole and ensure they keep them up to date.

A new landlord can design one from scratch using a spreadsheet program. Alternatively, they can use property management software like Landlord Studio.

rent roll report

Using Landlord Studio you can instantly generate a range of reports whenever you need them. You can filter the reports by the property, allowing you to create rent rolls for individual properties or for entire portfolios. You can also filter reports by date range and income and expense categories.

As long as you keep your rental property data up to date within the software you can instantly generate an accurate up to date rent roll report with a few taps inside the app.

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Final Thoughts

The rent roll is a report that provides detailed information about the property, the tenant, and rents. As such it is a valuable tool used by rental property investors to maximize gross rental income and improve property performance. The document can be used for a variety of purposes which is why it’s important to have one for individual properties and portfolios as a whole and to spend time up dating them regularly. 

Investment StrategyProperty Management Software

Ben Luxon

Ben is an author and real estate enthusiast. His interest in all things entrepreneurial has led him to work with real estate professionals all over the world, distilling their knowledge into articles and Ebooks.


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