A rent roll is a document that summarizes key leasing information for every unit or tenant space in a property, typically including tenant names, unit sizes, lease start and end dates, current rent, and any concessions or delinquencies. Property managers update rent rolls regularly, and they serve as one of the primary tools lenders, buyers, and investors use to understand a property's current income.
Because a rent roll reflects a property's income at a single point in time, reviewing several months of history alongside it helps reveal trends such as rising vacancy, tenant turnover, or below-market rents that could signal upside potential. Sponsors evaluating an acquisition typically compare the rent roll against market rent comparables to identify whether existing leases are priced below what the market would currently support, which often forms the basis for a value-add business plan built around raising rents to market level over time.
Further reading: The Lightstone DIRECT Story
ACCESS
