Rent Roll
A document listing every unit in a property or portfolio along with its tenant, rent, lease dates, and payment status — a one-page snapshot of the income side of the operation. Lenders and buyers ask for the rent roll early because it shows, unit by unit, where the income actually comes from and how current it is.
Related terms
Lease Abstract
A condensed summary of a lease’s key terms: the parties, unit, rent, start and end dates, deposits, renewal options, and who is responsible for what. Abstracts let an owner, buyer, or lender review the essentials of many leases without rereading every full document. They summarize the lease but do not replace it — the lease itself governs.
Vacancy Rate
The share of units or time a rental sits empty and producing no income, expressed as a percentage. A single unit vacant one month out of twelve has an 8.3% vacancy rate for the year. Investors underwrite an assumed vacancy rate so that one bad month does not surprise the whole year’s numbers.