Sample operating statements and rent roll reports for Multi-Family
Hi I am new to underwriting multi-family properties and was wondering how do you use operating statements, T12 and Rent roll reports in your underwriting and cash flow model. Can anyone share an working example and sample reports? Thanks.
[{"id": "iu2k7zm", "text": "How do we use them? I don't understand the question. Maybe I'm just being dense. We use them to compare current rents/income to projected rents/income. Some banks want to use current rents for their DSCR requirements, so that's important to have. Appraisers also tend to utilize current rents and expenses when calculating value by the income approach.\n\nHow important the current financials are to the buyer will vary from investor to investor, and their intentions for the property. I have a client for whom the current rents are almost irrelevant, but the rent roll is key to know how quickly he can turn the place over.", "replies": [], "depth": 1}, {"id": "iu2m0e4", "text": "RR for top line and maybe Lost to Lease / concessions - T12 for opex and other income.", "replies": [], "depth": 1}]