RubinBrown Apartment Stats 2016

COMPARISON OF OPERATIONS

Government Assisted

Market Rate

Total Number of Projects

425

31

Average Project Age In Years

10.10

12.11

Average Number of Units

109

266

Averages Per Unit: Monthly Rent

$750

$897

Square Feet

951

926

Rooms

4.41

3.60

Economic Occupancy

90.0%

87.3%

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

31.0%

50.3%

A

B

C

A

B

C

Revenues

Gross Potential Rent

$9,004

$9.47

100.0%

$10,763

$11.62

100.0%

Less: Vacancy Loss

(617)

(0.65)

-6.9%

(929)

(1.00)

-8.6%

Collection Loss

(167) (104)

(0.18) (0.11)

-1.9% -1.2%

(101) (334)

(0.11) (0.36)

-0.9% -3.1%

Concession Loss

Rent Collected

8,116

$8.53

90.0%

9,399

10.15

87.4%

353

0.37

3.9%

945

1.02

8.8%

Other Income Total Income

$8,469

$8.90

93.9%

$10,345

$11.17

96.2%

Expenses

Salaries and Personnel

$1,211

$1.27

13.5%

$1,044

$1.13

9.7%

Administrative

487

0.51

5.4%

480

0.52

4.5%

Marketing

62

0.07

0.7%

168

0.18

1.6%

Management Fees

471

0.50

5.2%

476

0.51

4.4%

Utilities

925

0.97

10.3%

648

0.70

6.0%

Carpeting

173

0.18

1.9%

90

0.10

0.8%

Painting

58

0.06

0.6%

66

0.07

0.6%

Landscaping

151

0.16

1.7%

105

0.11

1.0%

HVAC

71

0.07

0.8%

45

0.05

0.4%

Appliances

72

0.08

0.8%

32

0.03

0.3%

Plumbing

58

0.06

0.7%

42

0.04

0.4%

Electrical

49

0.05

0.5%

17

0.02

0.2%

Other Repairs and Services

1,047

1.10

11.6%

542

0.59

5.0%

Insurance

369

0.39

4.1%

279

0.30

2.6%

Real Estate Taxes

510 129

0.54 0.14

5.7% 1.4%

1,005

1.09 0.10

9.3% 0.9%

96

Other Taxes

Total Expenses

$5,844

$6.15

64.9%

$5,135

$5.54

47.7%

Net Operating Income Before Debt Service and Depreciation

$2,625

$2.75

29.0%

$5,208

$5.62

48.4%

Capital Expenditures

$405

$.43

4.5%

$973

$1.05

9.0%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2016 | 3