Compare the broker's story with the T-12 and rent roll.
Extract the broker's operating statement verbatim, verify T-12 math, flag monthly expense spikes and view T-12 actuals right beside your forecast.
NOI: the broker's story vs. the numbers
Broker operating statement vs. T-12 actuals.
Compare the offering memo's financials with annualized T-1, T-3, T-6 and T-12 numbers, and view T-12 actuals beside Year 1 to N in the model.
- Broker statement extracted verbatim from the OM
- T-1, T-3, T-6 and T-12 actuals with NOI verification
- Expense tab shows T-12 totals, per-unit costs and spikes
- Cash flow table places T-12 actuals next to forecast years
Offering memo vs. trailing 12
Maple Ridge Apartments
Physical vs. economic occupancy.
Spot the gap between physical and economic occupancy on the OM tab, and check the rent roll for zero-rent or non-revenue units.
- Physical vs. economic occupancy gap highlighted
- Cross-checked against vacant and non-revenue units
- Unit-level alerts for $0 rent or missing square footage
- Separate inputs for vacancy, concessions and bad debt
Occupancy, two ways
240 units
In-place rents vs. pro forma and comps.
Test the broker's pro forma rents against the rent roll and benchmark bedroom-level rents against local comparables.
- In-place vs. pro forma rents for classic and renovated units
- Floor plan comparison of market and in-place rent
- Bedroom-level rent comp matrix with dollar and per-SF gaps
- Recent move-in rent trend chart
Model Rent Comps · Imported from OM
Unit-weighted avg
Included with every deal
NOI verification
Checks whether extracted T-12 lines match the stated document NOI.
Expense spike tags
Months 20%+ above average are flagged in the T-12 and model.
T-12 beside forecast
Keep trailing actuals in the first column next to projected years.
One-click refresh
Sync updated T-12 or rent roll files without rebuilding your model.