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Rent roll and NOI

Rent roll and NOI worksheet

List your units or tenants, add your expenses, and see your net operating income.

What lenders do with this

Net operating income (NOI) is the income a property produces after operating expenses and before loan payments. Lenders size most commercial loans from it, so a clean rent roll and an honest expense list are the two pages that matter most. Nothing you enter leaves your browser.

1. Rent roll

One row per unit or tenant. For a vacant unit, enter the rent you would expect to get.

Unit or tenantSize (SF or beds)Monthly rentLease endsStatusRemove

2. Income and expenses

Use yearly figures from your last 12 months. Leave a line blank if it does not apply.

Laundry, parking, fees, tenant reimbursements
Many lenders apply their own minimum, often near 5%
Percent of collected income, often 3% to 6%
A yearly set-aside for big repairs
Landscaping, snow removal, legal, accounting, marketing

3. Value and loan (optional)

Add these to see cap rate, debt service coverage and debt yield.

BluRidge Funding rent roll and NOI worksheet
Your numbers
Units or tenants0
Occupied0%
Gross potential rent$0
Less vacancy and credit loss$0
Plus other income$0
Effective gross income$0
Less operating expenses$0
Expense ratio0%
Net operating income$0
Cap raten/a
Annual loan paymentsn/a
Debt service coveragen/a
Debt yieldn/a
Use this NOI in my deal brief

Estimate only. Lenders build their own NOI from your operating statements and leases, and they may use a higher vacancy or expense figure. Debt service coverage uses the rate and payment type you chose, not a quote. Need the paperwork list for your deal? Build a document checklist.

Common questions

What counts as an operating expense?
Property taxes, insurance, utilities, repairs, management, payroll and similar costs of running the property. Mortgage payments, depreciation and income taxes are not operating expenses.
Why do lenders add vacancy when the building is full?
A lender sizes the loan on what the property can keep producing, not on its best month. Many apply a minimum vacancy and a management fee even when you self-manage. Our guide to DSCR shows how that flows into the loan amount.
What is a good debt service coverage ratio?
Many lenders look for at least 1.20 to 1.25 on stabilized income property. Ask your lender, because requirements vary by loan type and property.
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