Visual presentations can be significantly more understandable and persuasive than tabular or narrative presentations, especially for lengthy and detailed rent rolls
, which can be difficult to grasp even by experienced real estate analysts.
Fitch analyzed the most recent financial statements and rent rolls
provided by the servicer.
At my first board meeting one owner was telling another that he just sold a building in Washington Heights for twelve times rent roll
Twelve times rent roll
," exclaimed another owner walking in the door.
Then the multiple could be four to five times rent rolls
To comply with Section 581, since most co-ops and some condos were converted from rental properties and are usually rent stabilized - rent rolls
are now "worked-up" to determine an artificial rent roll
, which is then capitalized to find a market value for the building for tax purposes.
Those who purchased properties towards the end of the rise at ten to fifteen times rent rolls
"missed the boat and really got clobbered," Hauspurg said.
As a result, Kamson is now purchasing properties with 1993 rent rolls
at 1983 prices, Kurtz noted, adding that interest rates are extremely low, making such acquisitions very attractive.
Buildings in these areas, with lower asset values and rent rolls
, are also less attractive to receivers.
Kucker, a landlord/tenant partner with Kucker Kraus & Bruh; and Dan Margulies, executive director of the Community Housing Improvement Program (CHIP), gave tips on how to increase rent rolls
and what to expect when purchasing rental property.
It becomes harder to have an immediate positive impact upon the premises without some level of cooperation from the record owner in terms of producing records and rent rolls
, collection efforts, condition of the premises and other issues affecting the building.
The lack of rent guidelines in this area have made that assessment nearly impossible to calculate methodically, so lenders and appraisers are currently using their judgment and speculating about buildings' rent rolls