Get Your Free Rent Receipt Template Excel for Technical Support

Free rent receipt template excel for Technical Support

hey in this video I'm going to show you how to use a rental for your real estate property so this could be for an apartment complex or a commercial real estate property I'm going to show you how to use the rent roll with our free template so we're going to give you a link to our free template which we'll put a link down in the description of the video below and you can go grab that and use that but I'm also just going to highlight why a rent roll template or rent roll is important and useful from a lender's perspective from a property manager's perspective and just show you some of the different things that you can use the right role to do this is our retro blog post so I guess just at a high level to get us all on the same page let's define what a rent roll is it provides a snapshot of the current income generated by a property or group of properties it's a record of all the rental units so just kind of unit by unit and it shows the status and income of each unit we'll take a look at our example here about what could be included we have a list of different things that might be included and see what it would look like you might be asked for a certified rent roll which just means that the property owner property manager is certifying that the rent roll is accurate and a lot of times the lenders or investors may be asking you for a certified rent roll and that that's really what they're looking for we give some example of kind of a certification statement here that you might want to use if that's what you need all right why don't we just go ahead and dive into why a rent roll is even requested in the first place from A lender A lender is going to be wanting to understand whether it's a wise choice to make a loan to the property owner right and so they're going to be trying to understand things like income debt service coverage ratio understanding the tenant mix and stability how stable are those tenants a big piece of that will be confirming the lease terms so understanding how long do the current tenants leases extend because a lot of times if you have some major tenants that whose lease is might end in the middle of a loan term that's a big risk for the lender that lease income might go away and that's one of the big reasons lender is going to ask for this and then ultimately just kind of helping them understand the value and the risk associated with the property so we're going to go ahead and give you access to that template we're going to pull that up here so I've got this Sprint World template pulled up and what you can do here is you'll see you'll be able to put in individual units so we've got three example units 101 102 and 104 here the amount of square footage for each unit the type the tenant's name whether they paid a security deposit things like a move-in date current lease start date current lease end date and then whether they're on a month-to-month rental or not so for this example that doesn't have a current lease end date it's just they're just on a month-to-month rent we have the monthly rent amount other charges and then we can put in things like overdue rent and outstanding fees and so we've built a couple little tricks into this tool to help you so what you'd be able to do is you can add in all of your Properties or your units here and then once you have that data entered let's say you wanted to look at all the units that had leases that were going to expire in the next six months so right here we put in the number six and what's going to happen is it's going to highlight the units that have a lease ending soon okay that's one helpful thing that I think can be useful to just visualize for you the other thing that we can do is if we put in past due rent or outstanding fees so let's say this has six hundred dollars in past due rent since that field is populated it's going to highlight that unit as red and just to demonstrate that hey this is one of the tenants with overdue rent and so you can use this color coding to kind of get a view at a glance some different information about your property now we put in maybe 20 lines here to start with but you can easily insert additional lines if you have 100 individual units since you could simply highlight a section right click and click insert and it's going to insert more rows and all those calculations should populate so that this will still work it as you add more additional rows the highlighting and that sort of thing should all still continue to work if you need any help filling out this referral template for your property let us know the last thing I would mention is just that a lot of time a rent roll is requested by A lender and at the same time they may be asking you for a financial model or a pro forma for your property and we do offer a number of proforma templates and so I'm going to put a link to our different real estate performance templates in the description of the video below you can go take a look at those or templates for multi-family apartment complexes commercial properties businesses like self storage or a strip mall that could all be useful for a rent roll but also for a financial model hope that's been helpful and if you have any questions along the way please reach out to us at supportprojectionhub.com and we'd be happy to help thanks [Music] thank you