RubinBrown Apartment Stats 2021

COMPARISON OF OPERATIONS

Government Assisted

Market Rate

Total Number of Projects

902

10

Average Project Age in Years Average Number of Units

10.33

10.80

109

164

Averages Per Unit: Monthly Rent

$978

$1,102

Square Feet

907

1,087

Rooms

4.48

4.19

Economic Occupancy

92.8%

98.6%

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

41.8%

45.0%

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

11,740

12.94

100.0%

13,227

12.17

100.0%

(844) (164)

(0.93) (0.18) (0.07)

-7.2% -1.4% -0.5% 90.9%

(188)

(0.17) (0.01) (0.03)

-1.4% -0.1% -0.3% 98.2%

Collection Loss

(15) (34)

(62)

Concession Loss

Rent Collected Other Income Total Income

10,670

11.76

12,990

16.96

450

0.50

3.8%

205

0.19

1.6%

11,120

12.26

94.7%

13,195

12.15

99.8%

Expenses Salaries and Personnel

1,178

1.30 0.87 0.09 0.59 1.03 0.07 0.07 0.12 0.08 0.04 0.06 0.05 1.10 0.47 0.83 0.36

10.0%

1,264

1.16 0.37 0.25 0.52 0.98 0.19 0.15 0.18 0.11 0.04 0.06 0.02 0.96 0.40 1.12 0.14

9.6% 3.1% 2.1% 4.3% 8.1% 1.6% 1.3% 1.5% 0.9% 0.3% 0.5% 0.1% 7.9% 3.3% 9.2% 1.2%

Administrative

789

6.7% 0.7% 4.6% 8.0% 0.6% 0.6% 0.9% 0.6% 0.3% 0.4% 0.4% 8.5% 3.6% 6.4% 2.8%

407 271 570 210 167 199 119

Marketing

77

Management Fees

539 937

Utilities

1,065

Carpeting

65 67

Painting

Landscaping

109

HVAC

71 33 52 49

Appliances

43 63 19

Plumbing Electrical

Other Repairs and Services

995 426 753 328

1,045

Insurance

434

Real Estate Taxes

1,221

157

Other Taxes

Total Expenses

$6,468

$7.13

55.1%

$7,254

$6.65

55.0%

Net Operating Income Before Debt Service and Depreciation

$4,652

$5.13

39.6%

$5,941

$5.50

44.8%

Capital Expenditures

$873

$0.96

7.4%

–

–

0.0%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

Comparison of Operations

3