Loss to Lease
I found a good discussion on Loss to Lease and how it is calculated for multifamily projects.  Blog and a video which is what I needed.


https://tsmfinancialmodels.com/blog/loss-to-lease
[{"id": "fktxi36", "text": "Newest lease rate less actual rent", "replies": [], "depth": 1}, {"id": "fku359o", "text": "\"Loss/gain to lease\" is a bit of useless metric. You can define \"market rents\" as high or low as you want. It's the effective rate that matters.", "replies": [{"id": "fkuimh9", "text": "Seconding this.   \n\n\nLoss-to-lease isn't a concept in the lending world. If anything it's a brokerage talking point, but market rent in a rent roll is fairly arbitrary.", "replies": [], "depth": 2}], "depth": 1}]