Free download · XLSX
Rent Roll Template (Excel) for Office, Retail, Industrial and Multifamily
Free Excel rent roll template with office, retail, industrial and multifamily tabs, plus live occupancy, WALT and lease expiration summaries.
Download the XLSX templateDirect download. No email required.
What's inside
- Office tab: suite, floor, RSF and USF with load factor, lease type, base year and expense stop, pro-rata share, escalations, TI and leasing commission balances, options, termination and expansion rights, sublease flag
- Retail tab: anchor or inline, GLA, recovery structure, CAM, tax and insurance recoveries, CAM cap and admin fee, percentage rent and breakpoint, reported sales, sales per SF, occupancy cost ratio, co-tenancy, exclusives, kick-out and continuous operation fields
- Industrial tab: clear height, dock-high and drive-in doors, trailer stalls, power, NNN recoveries by line, admin fee, expense cap, escalations, options, termination and purchase rights
- Multifamily tab: unit, floor plan, status, market and scheduled rent, concessions, effective rent, loss-to-lease, deposits, pet and parking fees, AR aging buckets
- Generic commercial tab: row-per-lease with step and recovery rows, base rent, pro-rata share, CAM cap, free rent and options
- Summary tabs: occupancy, in-place rent, SF- and rent-weighted WALT, expiration schedule by year and next 24 months, expiring rent, and recoveries
- Red Flags tab: counts for missing signed leases, tenants over 30 days delinquent, expired and near-term expiring leases, multifamily loss-to-lease and concessions, and retail occupancy cost ratio
A rent roll template with a tab for each property type
Most free rent roll templates are one grid for every asset. That breaks quickly: an office roll needs base year and unfunded TI, a retail roll needs percentage rent and co-tenancy, an industrial roll needs clear height and dock doors. This workbook gives each of the three its own tab, keeps the multifamily tab and a generic commercial tab, and reads all of them into summary and red-flag tabs.
What each tab holds
- Office: suite, floor, RSF and USF (load factor calculated), lease type, base year and expense stop, pro-rata share, escalation, free rent, TI allowance, unfunded TI and leasing commissions, options, termination and expansion rights, sublease flag, parking.
- Retail: anchor or inline, GLA, recovery structure, CAM, tax and insurance per SF, CAM cap and admin fee, percentage rent rate and breakpoint, TTM sales, sales per SF, occupancy cost ratio, percentage rent due, co-tenancy, exclusives, kick-out threshold and continuous operation covenant.
- Industrial: clear height, dock-high and drive-in doors, trailer stalls, power, NNN recoveries by line with admin fee and expense cap, escalation, options, termination, purchase option and ROFR.
- Multifamily and generic Commercial: the original unit-level and lease-level tabs, unchanged.
What the summaries compute
The CRE Summary tab calculates, per property type, occupancy by SF, in-place annual base rent, average rent per SF, WALT (SF-weighted and rent-weighted), largest-tenant share, annual recoveries, the expiration schedule by year, the next-24-months bucket lenders ask for, and the expiring base rent by year. The Summary tab does the same for the multifamily and generic commercial tabs. The Red Flags tab counts unsigned leases, tenants more than 30 days delinquent, expired leases and near-term rollover.
The sample rows are labelled EXAMPLE and are illustrative, not market data. Delete them before use.
When a template stops being enough
A well-kept template handles a small multi-tenant property through diligence. Once the roll runs to dozens of tenants, tying it to the leases and the general ledger is the slow part. Moraine reads the rent roll, leases and operating statements together and flags variances with citations; a qualified underwriter still reviews the result. For the full document list a rent roll belongs to, see the due diligence checklist and the data room request list.
How to use the template
- 1
Pick the tab for the property type
Office, Retail, Industrial and Multifamily each have the field set conventional to that type. The Commercial tab is a generic row-per-lease layout with step and recovery rows if your deal does not fit the others.
- 2
Enter one row per lease or unit
Rows labelled EXAMPLE are sample data; delete them. Do not merge cells: the summary formulas read flat rows. Calculated columns (annual rent, remaining term, pro-rata share, sales per SF) fill themselves.
- 3
Set the as-of date and building SF
Put the as-of date on the Summary tab (B2) and the building SF on the CRE Summary tab (row 3). WALT, the expiration schedule and pro-rata share all read from those two inputs.
- 4
Compare the summaries to the broker's rent roll
Occupancy, in-place rent, WALT and the expiration schedule compute live. Compare them with the figures in the OM; differences are common and worth a note in the diligence memo.
- 5
Work through the Red Flags tab
Any non-zero count (unsigned leases, tenants over 30 days delinquent, expired leases, leases expiring within 24 months) needs a note and a follow-up with the seller.
Audit rent rolls against every lease
Moraine reads the rent roll alongside the leases and operating statements and flags variances with source citations. A qualified underwriter still reviews the output.
See the rent roll auditTemplate FAQ
A commercial rent roll lists every tenant with base rent, lease term, size, and recovery terms. Good rent rolls also include options, escalations, free rent, concessions, deposits, and CAM obligations. A rent roll is the operating snapshot of the property.
Tie each row to the executed lease (the deposit, base rent, and expiration), then tie the rent roll totals to the general ledger and bank deposits for the last three months. A variance of more than about 1% at the property level warrants an explanation. The template's Red Flags tab covers the first screen (missing signed leases, delinquency, expired leases and near-term rollover).
Office rolls track RSF and USF, base year or expense stop, and unfunded TI and leasing commissions. Retail rolls add percentage rent and breakpoints, reported sales, co-tenancy, exclusives and CAM caps. Industrial rolls add clear height, dock doors, trailer parking and NNN recoveries by line. This template has a separate tab for each.
Weighted average lease term is the sum of each occupied lease's remaining term, weighted by square feet (and separately by annual base rent), divided by the total weight. Remaining term is measured from the as-of date on the Summary tab to the lease expiration date. Vacant rows are excluded.
For underwriting, the rent roll should match the cutoff date on the T-12. For asset management, monthly is standard; institutional portfolios typically refresh on the same close schedule as the GL.
A template is the blank grid. Rent roll analysis is what you do with it: occupancy, expiration schedule, WALT, concentration, delinquency. This workbook has the data-entry tabs plus summary and red-flag tabs that compute those figures from what you enter.
Want this auto-generated from your actual data?
Moraine builds the filled-in version from your leases, rent rolls, or offering memorandum.