How to analyze a multifamily rent roll

Reconcile units, occupancy, leases, loss-to-lease, and the bridge to a supportable year-one revenue forecast.

How to read a T12

Validate the period, normalize the chart of accounts, investigate monthly variance, and build defensible NOI.

Separate historical evidence from the forward case and make the NOI bridge visible to decision-makers.

Move from mandate screen through operations, capital, debt, downside, and investment committee review.

Structure inputs, schedules, debt, returns, scenarios, and audit controls without hiding the investment thesis.

Turn the underwrite into a source-backed recommendation with risks, sensitivities, and owned diligence items.

Every method here, carried through real documents and your own model, with every number keeping its source.