RubinBrown Apartment Stats 2020

COMPARISON OF OPERATIONS

Government Assisted

Market Rate

Total Number of Projects

787

12

Average Project Age In Years Average Number of Units

11.39

12.45

108

164

Averages Per Unit: Monthly Rent

865 910 4.47

1,092 1,087

Square Feet

Rooms

4.19

Economic Occupancy

92.1%

98.7%

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

38.8%

45.9%

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

10,354

11.38

100.0%

13,101

12.05

100.0%

(822) (126)

(0.90) (0.14) (0.06)

-7.9% -1.2% -0.5% 90.4%

(172)

(0.16) (0.02) (0.04)

-1.3% -0.2% -0.3% 98.2%

Collection Loss

(24) (42)

(55)

Concession Loss

Rent Collected Other Income Total Income

9,351

10.28

12,863

11.83

611

0.67

5.9%

198

0.18

1.5%

$9,962

$ 10.95

96.3%

$13,061

$12.01

99.7%

Expenses Salaries and Personnel

1,143

1.26 0.69 0.07 0.54 1.01 0.09 0.07 0.12 0.08 0.04 0.05 0.04 1.20 0.44 0.66 0.34

11.0% 6.0% 0.6% 4.7% 8.8% 0.8% 0.6% 1.0% 0.7% 0.4% 0.5% 0.4% 3.9% 5.8% 3.0% 10.5% 58.7%

1,319

1.21 0.29 0.24 0.50 0.96 0.09 0.06 0.13 0.08 0.30 0.02 0.02 1.13 0.36 1.06 0.05

10.1%

Administrative

624

318 266 549

2.4% 2.0% 4.2% 8.0% 0.7% 0.5% 1.1% 0.6% 2.5% 0.1% 0.2% 9.4% 3.0% 8.8% 0.4%

Marketing

66

Management Fees

487 915

Utilities

1,046

Carpeting

86 62

94 65

Painting

Landscaping

108

141

HVAC

75 39 49 38

85

Appliances

322

Plumbing Electrical

19 25

Other Repairs and Services

1,088

1,228

Insurance

403 599 313

392

Real Estate Taxes

1,152

51

Other Taxes

Total Expenses

$6,095

$6.70

$7,072

$6.50

54.0%

Net Operating Income Before Debt Service and Depreciation

$3,867

$4.25

37.6%

$5,989

$5.51

45.7%

Capital Expenditures

$(142)

$(0.16)

-1.4%

$293

$0.27

2.2%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

Comparison of Operations

3