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Rent Roll Template for Multifamily

Organize unit mix, lease terms, and rental income in a clean, analyst-ready format. Built by CRE professionals for multifamily underwriting.

A rent roll is a document that lists every unit in a property along with its lease terms, current rent, and occupancy status. It is the primary source for verifying rental income during multifamily underwriting. Analysts use rent rolls to calculate occupancy rates, identify loss to lease, and model cash flows for acquisition decisions.

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.xlsx format
Works with Excel & Google Sheets
rent-roll-template.xlsx
Unit
Type
SF
Rent
$/SF
101
1B/1B
750
$2,100
$2.80
102
2B/2B
1,100
$3,400
$3.09
103
1B/1B
750
$2,150
$2.87
104
2B/1B
950
$2,800
$2.95
105
Studio
500
$1,650
$3.30
Units
48
Avg Rent
$2,420
Occupancy
94%
Ready to use
Template Contents

Everything you need for multifamily analysis

A complete rent roll structure designed by acquisitions analysts.

Unit-Level Detail

Unit number, unit type (1B/1B, 2B/2B, Studio), square footage, floor plan identifiers.

Lease Terms

Lease start date, lease end date, lease length in months, move-in dates for each tenant.

Rent Analysis

Current rent, market rent, rent per square foot, rent variance, and concessions tracking.

Occupancy Tracking

Vacant units flagged, lease expiration schedule, turnover tracking, and occupancy rate.

Summary Metrics

Auto-calculated totals: total units, average rent, total SF, gross potential rent, occupancy %.

Unit Mix Analysis

Breakdown by unit type, average rent by type, SF distribution, and unit mix percentages.

Quick Start

How to use this template

Four simple steps to organize your multifamily rent roll.

01

Download and save

Download the Excel file and save a copy for each property you're underwriting. Works with Excel 2016+ or Google Sheets.

02

Enter unit data

Input unit-level data from the broker OM, rent roll PDF, or property manager export. One row per unit.

03

Review summary metrics

The summary tab auto-calculates key metrics: occupancy rate, average rent, total SF, and gross potential rent.

04

Feed your model

Link or copy the organized data into your underwriting model. The structured format makes it easy to plug into any DCF.

FAQ

Common questions

What is a rent roll?

A rent roll is a detailed schedule of all rental income from a property. For multifamily buildings, it lists every unit with lease terms, current rent, move-in dates, and tenant information. Investors and analysts use rent rolls to verify income, calculate occupancy, and model cash flows during underwriting. It's one of the most critical documents in any multifamily acquisition.

What file format is it?

The template is an .xlsx file (Excel format). It works with Microsoft Excel 2016 and later, as well as Google Sheets. Just upload to Google Drive and open with Sheets.

How many units does it support?

The template supports any number of units. Simply add more rows as needed. The summary formulas auto-update to include all data rows.

Can I customize the columns?

Yes. The template is fully editable. Add, remove, or rename columns to match your underwriting workflow. Just update the summary formulas accordingly.

Is it really free?

Yes, completely free. We built this to help CRE professionals. If you want to automate data entry entirely, check out Primer.

How do you calculate loss to lease?

Loss to lease is the difference between market rent and actual in-place rent across all units. Calculate it as: (Market Rent - In-Place Rent) × 12 for the annual figure. For example, if market rent is $1,500/unit but tenants pay $1,400/unit across 100 units, annual loss to lease is $120,000. This metric reveals upside potential in a rent roll.

What is economic vs. physical occupancy?

Physical occupancy measures the percentage of units occupied. Economic occupancy measures the percentage of gross potential rent actually collected — accounting for vacancies, concessions, bad debt, and loss to lease. Economic occupancy is always lower and gives a more accurate picture of revenue performance.

What is the difference between a rent roll and a unit mix?

A unit mix is a summary of unit types and counts (e.g., 20 one-bedrooms, 15 two-bedrooms) with average rents by type. A rent roll is unit-level detail showing every individual unit's lease terms, tenant, and rent. The unit mix is derived from the rent roll. Both are needed for underwriting, but the rent roll provides the granular data for cash flow modeling. Sources: NMHC, NAA.

Automate it

Want to skip the manual data entry?

Primer extracts rent roll data from any document format (PDFs, scans, Excel) and maps it directly to your underwriting model. No copying, no pasting.

  • Works with any rent roll format
  • Maps to YOUR Excel template
  • 98%+ accuracy with source citations
Learn how Primer works
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