Rent Roll Report — What It Shows and Why Investors Use It

Answer

Intro: A rent roll is a snapshot of a rental property’s income and lease status. Owners, investors, lenders and brokers use rent rolls to verify cash flow, monitor occupancy and evaluate a building’s performance during underwriting, acquisition, or regular portfolio reviews.

Main content — what a rent roll includes and how it’s used:

• Core fields: unit identifier, tenant name, lease start and end dates, current monthly rent, security deposit, lease type (month-to-month or fixed term) and any concessions or rent credits.
• Performance metrics: gross potential rent (GPR), actual rent collected, vacancy status, arrears, and collection rate. Many rent rolls also show scheduled rent increases or CPI/step escalations and options like renewal or termination rights.
• Granularity: landlords often include tenant contact info, pet or parking fees, utility responsibility (owner vs. tenant), and notes on lease violations or pending move-outs. Commercial rent rolls may add square footage, rent per SF, and NNN charge allocations.
• Formats and frequency: rent rolls appear as spreadsheets or database exports and are typically updated monthly. During a sale or refinance, buyers and lenders ask for recent monthly rent rolls plus 12 months of rent collections to reconcile actual income.
• Why they matter: a clean, well-documented rent roll speeds due diligence, helps set valuation assumptions (market rent vs. under-market leases), and flags risks like high vacancy, large concessions, or concentrated tenant exposure.

Practical tips: reconcile the rent roll with bank deposits and leases, note any third-party management fees or concessions, and store signed leases and payment records with the rent roll. Use consistent column labels and timestamps so recipients can verify data quickly.

Final note: a rent roll does not replace a full financial audit or legal review. For transaction use or dispute resolution, it’s advisable to have documents reviewed by a qualified accountant or licensed attorney to confirm accuracy and compliance with local rules.