Know your roll! Your rent roll that is.

Mike Taravella discusses the importance of understanding your rent roll as a buyer and an owner. 

Key Information: 

#1. Understand your occupancy!  

  • If you are getting agency debt you need 90% for 90 days! Get a report if it is not on the rent roll. 
  • As an owner, do your reviews to make sure your PM is operating efficiently and your turnover is low. 


#2. Market Rents 

  • What are the true market rents? Do your own due diligence to prove out the comps provided. 
  • As an owner, keep track of the rents in your market to know when you need to raise them. You NOI relies on it! 


#3. Actual Rent Charged 

  • Know how long it should take to get to market rents… hint… it isn’t overnight! 
  • Your loss to lease is the difference between your rents and the market. Know where you are and are you executing your business plan? 


#4. Lease to and Lease From 

  • See where the value add is when people have been there for a long time! 
  • How close are all the leases? If they are all in the same month, that could be a mass exodus of your property. 


#5, Understand the balances 

  • As for your 30-60-90 day delinquency reports to understand where the property is. 
  • As an owner, who is paying and who is not? Add a narrative as to why someone is past due for understanding the story and potential eviction support. 

Pro tip: Know your rent roll, understand your takeover plan, and make sure you are capitalized! 


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