RubinBrown Apartment Stats 2015

Comparison of Operations

Government Assisted

Market Rate

Total Number of Projects

516

38

Average Project Age In Years

11.8

10.4

Average Number of Units

108

279

Averages Per Unit: Monthly Rent

$735

$806

Square Feet

944

942

Rooms

4.46

4.00

Economic Occupancy

89.1%

86.2%

Net Operating Income Before Debt Service & Depreciation as a Percentage of Total Income

35.3%

47.8%

A

B

C

A

B

C

Revenues

Gross Potential Rent

$8,816

$9.34

100.0%

$9,666

$10.26

100.0%

Less: Vacancy Loss

(744)

(0.79)

-8.4%

(887)

(0.94)

-9.2%

Collection Loss

(123)

(0.13) (0.10)

-1.4% -1.1%

(96)

(0.10) (0.37)

-1.0% -3.6% 86.2% 10.7% 96.9%

(93)

(349)

Concession Loss

Rent Collected

7,856

$8.32

89.1%

8,334 1,039

8.85 1.10

456

0.48

5.2%

Other Income Total Income

$8,312

$8.80

94.3%

$9,373

$9.95

Expenses

Salaries and Personnel

$1,068

$1.13

12.1%

$981

$1.04

10.1%

Administrative

496

0.53

5.6%

427

0.45

4.4%

Marketing

56

0.06

0.6%

139

0.15

1.4%

Management Fees

467

0.49

5.3%

395

0.42

4.1%

Utilities

827

0.88

9.4%

665

0.71

6.9%

Carpeting

133

0.14

1.5%

111

0.12

1.1%

Painting

54

0.06

0.6%

121

0.13

1.3%

Landscaping

128

0.14

1.5%

138

0.15

1.4%

HVAC

51

0.05

0.6%

27

0.03

0.3%

Appliances

54

0.06

0.6%

55

0.06

0.6%

Plumbing

47

0.05

0.5%

46

0.05

0.5%

Electrical

64

0.07

0.7%

47

0.05

0.5%

Other Repairs and Services

855

0.91

9.7%

491

0.52

5.1%

Insurance

348

0.37

4.0%

267

0.28

2.8%

Real Estate Taxes

511

0.54 0.09

5.8% 1.0%

900

0.95 0.09

9.3% 0.8%

84

82

Other Taxes

Total Expenses

$5,243

$5.57

59.5%

$4,892

$5.20

50.6%

Net Operating Income Before Debt Service and Depreciation

$3,069

$3.23

34.8%

$4,481

$4.75

46.3%

Capital Expenditures

$973

$1.03

11.0%

$565

$0.60

5.8%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2015 | 3