RubinBrown Apartment Stats 2018

COMPARISON OF OPERATIONS

Government Assisted

Market Rate

Total Number of Projects

701

18

Average Project Age In Years Average Number of Units

11.80

11.67

105

296

Averages Per Unit: Monthly Rent

$767

$1,246

Square Feet

923

929

Rooms

4.50

4.38

Economic Occupancy

92.3%

93.7%

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

34.5%

53.3%

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$9,208

$9.98

100.0%

$14,946

$16.09 (1.01) (0.15) (0.04)

100.0%

(708) (130)

(0.77) (0.14) (0.05)

-7.7% -1.4% -0.5% 90.4%

(938) (138)

-6.3% -0.9% -0.2% 92.6%

Collection Loss

(46)

(35)

Concession Loss

Rent Collected Other Income Total Income

8,324

9.02 0.80

13,835

14.89

742

8.1%

245

0.26

1.6%

$9,066

$9.82

98.5%

$14,080

$15.15

94.2%

Expenses Salaries and Personnel

$1,087

$1.18

11.8% 8.0% 0.8% 5.0% 9.7% 1.2% 0.7% 1.0% 0.7% 0.4% 0.5% 0.4% 3.6% 6.3% 3.3% 11.2% 64.6%

$763

$ 0.82

5.1% 5.8% 1.0% 3.0% 5.0% 1.0% 0.8% 1.0% 0.1% 0.7% 0.4% 0.4% 7.7% 1.6% 6.7% 3.7%

Administrative

735

0.80 0.08 0.50 0.96 0.12 0.07 0.10 0.07 0.04 0.05 0.04 1.12 0.36 0.63 0.33

870 151 452 745 154 115 145

0.94 0.16 0.49 0.80 0.17 0.12 0.16 0.02 0.12 0.06 0.06 1.24 0.25 1.07 0.59

Marketing

78

Management Fees

461 890 109

Utilities

Carpeting

Painting

65 89 62 36 46 35

Landscaping

HVAC

21

Appliances

111

Plumbing Electrical

59 55

Other Repairs and Services

1,035

1,153

Insurance

333 577 302

232 996 547

Real Estate Taxes

Other Taxes

Total Expenses

$5,940

$6.45

$6,569

$7.07

44.0%

Net Operating Income Before Debt Service and Depreciation

$3,126

$3.37

33.9%

$7,511

$8.08

50.2%

Capital Expenditures

$987

$1.07

10.7%

$599

$0.64

4.0%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

Comparison of Operations

3