Rent Roll Form

What is a Rent Roll?

A rent roll is a statement of the value of investment rental property. Rental income will largely sustain your investment if it's sufficient, so it's important to pinpoint it down to the dime. A rent roll cites rents that are due, lease terms, and late fees. It's a snapshot of overall expected income and historic income.

What are Rent Rolls used for?

Rent rolls are used by landlords and property managers in the daily management of properties. They can be used to analyze anticipated rental income, the actual rental income collected, and whether there's room for rent increases based on fair market rent in the area.

A rent roll is broken down by unit so it can easily show which tenants haven't been paying rent or which tenants have been habitually paying their rent late. This can help a landlord stay on top of problems and file for evictions if necessary.

How does a Rent Roll work?

A rent roll breaks down the rent per apartment unit, and it also gives a total rent amount for the entire investment property. It collects rent data from each individual tenant’s lease agreement and puts it in one, easy-to-read document. The landlord doesn't have to waste time digging up each tenant’s lease to determine rent amounts or lease start and end dates.

Who uses Rent Rolls?

Any number of individuals and entities can benefit from reviewing an accurate rent roll. Lenders will be interested in seeing the document if you're thinking of refinancing the property—they'll want to know its historic and anticipated income. Certain government agencies might require it, as will any property managers you hire to handle your investment.

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What is the purpose of making a rent roll form?

The rent-roll is a source document for current and past records. It contains information about rental revenues paid to the leaser. It’s based on valid in-force leases. Aside from this, the document will also include the payment history of the residents.Rent reports contain the expected payments for each given period, usually monthly. The bigger purpose of the report is to give proof of the property. It provides stability, quality, and longevity in generating income.

When you purchase an income property, there is always the intent to own it for a year, five, and ten or depending on terms. This makes the rent roll important. It gives you information about the property’s current income. More importantly, it gives you an understanding of how the asset could perform in the long run. When comparing the monthly income statement and the rent roll, they should match.

Logically, they should because the former is a product of the latter. If there are any differences, the amounts involved should be small. You should be able to easily explain the differences. They should also be clearly documented in notes. Otherwise, it will be a cause for concern. You should make further inquiries to determine the actual income. A certified rent roll document is a requirement of government agencies.

It’s important for annual monitoring. The rent roll is practically an affidavit. It contains information about collections made by income properties. Presenting an inaccurate one is a criminal act. You deliver the document, together with the property’s financials annually. You’ll give it to the proper government agency as a requirement and it must be duly signed.

How to create a Rent Roll?

A rent roll can easily be created using a spreadsheet program, such as Microsoft Excel. Simply label the rows and columns with the proper headings and input the data as you collect it.

The information included in the rent roll can vary because it's created to meet the specific needs of the landlord, but a good rent roll includes certain general information.

1. Document Heading

This will appear at the top of the spreadsheet and will include any identifying information for the property owner and the investment property.

Name of property owner
Address of rental property
Name of property manager/management company if applicable

2. Unit Specifics

There should be a dedicated row for each rental unit that contains certain information:

Unit number: This should match the unit number on the lease agreement, such as Apartment #1 or 3A.
Square footage: How large is the unit? This information is helpful when comparing rent prices to other units in the area.
Number of beds and baths: This will help determine if you're collecting the fair market rent for the unit.
Security deposit collected: How much did you collect from each tenant when they moved in? This amount should not include the first month's rent.
Rent amount owed: How much does the tenant owe each time rent is collected?
Rent collected: Break down the date rent was collected, the amount that was collected, and the method of payment.
Lease start date: Include the date the lease began and when the first rent payment was collected.
Lease end date: Enter the date the lease ends if there's an end date or if the lease becomes month to month.
Additional tenant expenses: Note whether the tenant will pay any additional expenses, such as utilities or building maintenance.
Additional unit information: The landlord can use this section to write any comments about the unit, such as a scheduled rent increase or renovations that have been completed or are scheduled on the unit.

3. Rent Totals

This is the total rent amount that could be collected each month or each year for the property:

Monthly rent collected: Add together the monthly rents for each unit.
Yearly rent collected: Yearly rent can be calculated by multiplying the total monthly rent collected by 12.

Filling out the Rent Roll form with PDF Reader Pro is easy, please follow the steps below to do that:

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2. Open your rent roll form in PDF Reader Pro;

2. Click on any field and start typing your information;

3. Save the complete form in a cloud storage so you can retrieve it from anywhere in the future;

4. Print out the form or add watermarks and publish it online if necessary;

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