Rent Roll

A rent roll lists every space in a property, leased or vacant, with the tenant, rentable area, lease dates, current rent, and key terms. It is the document owners, lenders, and buyers use first to understand a property’s income.

What a commercial rent roll includes

• Suite and tenant, including vacant suites
• Rentable square feet and share of the building
• Lease start and expiration
• Current annual rent and rent per square foot
• Next escalation date and amount
• Recovery type: NNN, modified gross, base year, or gross
• Options: renewal, termination, expansion
• Security deposit or letter of credit

A residential rent roll is organized by unit and monthly rent. A commercial rent roll is organized by rentable area and adds the terms that drive commercial value.

Metrics derived from it

Occupancy        leased RSF / total RSF
Average rent     annual rent / leased RSF
WALT             remaining term, weighted by rent or area

WALT, the weighted average lease term, shows how long current income is contracted to continue.

Why accuracy matters

During financing or a sale, buyers compare the rent roll to the leases and to tenant estoppel certificates. Any difference raises questions about the rest of the document. The most common cause is a rent roll maintained by hand that has drifted from the lease abstracts and the ledger.

Producing the rent roll from the same records that drive billing keeps it consistent. A stacking plan presents the same data floor by floor.

The commercial lease administration guide covers the records a rent roll depends on.