RubinBrown Apartment Stats 2011
Market Rate
2010
2009
2008
Total Number of Projects
20
14
13
Average Number of Units
238
169
186
Averages Per Unit: Monthly Rent
$763
$809
$728
Square Feet
932
823
862
Rooms
4.30
4.37
4.40
Economic Occupancy
82.8%
87.7%
90.2%
Net Operating Income Before Debt Service & Depreciation as a Percentage of Total Income
45.5%
47.5%
49.3%
A
B
C
A
B
C
A
B
C
REVENUES
Gross Potential Rent
$ 9,153 $9.82 100.0% $ 9,707 $ 11.80 100.0% $ 8,738 $ 10.13 100.0%
Less: Vacancies and Delinquencies
(942)
(1.01)
-10.3%
(902)
(1.02)
-9.3%
(583)
(0.68)
-6.7%
Collection Loss
(113)
(0.12)
-1.2%
(52)
(0.06)
-0.5%
(93)
(0.11)
-1.1%
Concession Loss
(520)
(0.56)
-5.7%
(220)
(0.27)
-2.5%
(174)
(0.20)
-2.0%
Rent Collected
7,578
8.13 82.8%
8,533 10.45 87.7%
7,888 9.14 90.2%
Other Income
692
0.74 7.6%
502 0.61 5.2%
667 0.77 7.6%
Total Income
$8,270 $8.87 90.4% $9,035 $11.06 92.9% $8,555 $9.91 97.8%
EXPENSES
Salaries and Personnel
$794 $0.85 8.7%
$837 $1.02 8.6%
$861 $1.00 9.9%
Administrative
323
0.35 3.5%
465 0.57 4.8%
364 0.42 4.2%
Marketing
141
0.15 1.5%
126 0.15 1.3%
149 0.17 1.7%
Management Fees
330
0.35 3.6%
357 0.43 3.7%
379 0.44 4.3%
Utilities
645
0.69 7.1%
778 0.95 8.0%
616 0.72 7.1%
Contract Services
662
0.71 7.2%
619 0.75 6.4%
603 0.70 6.9%
Repair and Maintenance
475
0.51 5.2%
519 0.63 5.3%
489 0.57 5.6%
Insurance
319
0.34 3.5%
297 0.36 3.1%
334 0.39 3.8%
Real Estate Taxes
673
0.72 7.3%
602 0.73 6.2%
458 0.53 5.2%
Other Taxes
145
0.15 1.6%
139 0.17 1.4%
81 0.09 0.9%
Total Expenses
$4,507 $4.82 49.2% $4,739 $5.76 48.8% $4,334 $5.03 49.6%
Net Operating Income Before Debt Service and Depreciation
$3,763 $4.05 41.2% $4,296 $5.20 44.1% $4,221 $4.88 48.2%
A = Dollars per unit, per year
B = Dollars per square foot, per year
C = Percent of gross potential rent
15 | Raise Your Expectations
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