Rent roll analyzer guide: the checks that matter before underwriting

Confirm the effective date and reconcile distinct units to the OM and unit mix. Separate rentable units from models, employee units, commercial spaces, down units, and duplicates. A unit-count mismatch changes occupancy and every per-unit metric that follows.

Keep missing values distinct from zero. A blank rent, lease date, or status is an exception to investigate, not a value to coerce for the convenience of aggregation.

Standardize unit type, beds, baths, square feet, occupancy status, lease start, lease end, contract rent, market rent, concessions, balances, and recurring charges. Preserve the source row so a reviewer can return to the original record.

• Duplicate or missing unit identifiers
• Invalid or overlapping lease dates
• Inconsistent monthly and weekly rent periods
• Ambiguous occupied, notice, preleased, and vacant statuses

Physical occupancy and economic occupancy answer different questions. Loss-to-lease also depends on the selected market-rent benchmark. State the formula, denominator, date, and status logic behind each summary instead of relying on a label alone.

Segment by unit type and lease cohort. Portfolio-wide averages can hide whether upside is concentrated in a handful of units or whether exposure arrives in a single leasing season.

Build an explicit bridge from in-place contractual rent through expirations, renewal assumptions, vacancy, concessions, bad debt, and ancillary charges. Near-term lease timing deserves unit-level treatment before broader annual assumptions take over.

Facts and assumptions should remain separate. The rent roll can support current lease terms; it cannot independently prove future market rent, renewal probability, downtime, renovation cost, or collection improvement.