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.
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
. It doesn't make any sense over that because there isn't the upside.
The rent roll
will be more than $2.5 million a year.
That act, also known as the Rent Stabilization Law, is in force in New York City and many in the real estate industry believe it has artificially kept building rent rolls
- and therefore property tax rolls - low.
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.
They will look only at non-rent stabilized properties and are seeking cash flows with rent rolls
about $900,000 outside of New York City and $2.5 million in the city.
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.