RubinBrown Apartment Stats 2017

COMPARISON OF OPERATIONS

Government Assisted

Market Rate

Total Number of Projects

562

28

Average Project Age In Years Average Number of Units

12.78

10.41

106

288

Averages Per Unit: Monthly Rent

$802

$949

Square Feet

899

943

Rooms

4.5

4.24

Economic Occupancy

92.1%

90.7%

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

35.4%

50.0%

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$9,514

$10.58 (0.83) (0.15) (0.10)

100.0%

$11,383

$12.07 (1.12) (0.13) (0.22)

100.0% -9.3% -1.1% -1.8% 87.9% 11.4% 99.2%

(749) (134)

-7.9% -1.4% -0.9% 89.8%

(1,057)

Collection Loss

(121) (203)

(88)

Concession Loss

Rent Collected Other Income Total Income

8,543

9.50 0.73

10,002

10.60

661

6.9%

1,294

1.37

$9,204

$10.23

96.7%

$11,296

$11.97

Expenses Salaries and Personnel

$1,079

$1.20

11.3% 5.9% 0.7% 5.0% 9.2% 1.5% 0.7% 1.3% 0.6% 0.5% 0.6% 0.4% 3.9% 6.1% 3.0% 11.7% 62.4%

$649

$0.69

5.7% 5.1% 1.4% 4.0% 6.1% 1.3% 1.1% 1.4% 0.2% 0.7% 0.5% 0.4% 8.4% 2.0% 9.3% 2.0%

Administrative

560

0.62 0.08 0.53 0.98 0.16 0.07 0.13 0.07 0.06 0.06 0.04 1.24 0.41 0.64 0.32

580 164 459 695 143 127 155

0.62 0.17 0.49 0.74 0.15 0.13 0.16 0.03 0.08 0.06 0.04 1.02 0.24 1.12 0.24

Marketing

71

Management Fees

476 879 143

Utilities

Carpeting

Painting

65

Landscaping

120

HVAC

60 51 55 39

27 79 58 42

Appliances

Plumbing Electrical

Other Repairs and Services

1,112

960 224

Insurance

367 578 288

Real Estate Taxes

1,053

231

Other Taxes

Total Expenses

$5,943

$6.61

$5,646

$5.98

49.6%

Net Operating Income Before Debt Service and Depreciation

$3,261

$3.63

34.3%

$5,650

$5.99

49.6%

Capital Expenditures

$661

$0.74

6.9%

$389

$0.41

3.4%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

Comparison of Operations

3