Help & Support

General

The Multi-Units tab is available to users of the Pro Version only. This tab will help you review multi-unit properties and large apartment complexes.

The tab is divided in two sections:

• General Assumptions: to define the scope (i.e. whether assumptions apply to all units or on a per-unit basis) of key operating assumptions (vacancy rate, rent increase, variable expenses, etc.) and all overhead expenses. You can also apply a rule of thumb if desired (more information below)
• Unit Details: to apply specific operating assumptions to each unit type. Note that the spreadsheet allows for up to 10 unit types (in each of the 10 columns) and an unlimited number of units for each type (entered in the “# of Units” row).

General Assumptions

This section is divided in 3 sub-sections: 1) General Operating Assumptions, 2) Overhead Expenses Assumptions, 3) Rule of Thumb.

General Operating Assumptions

In the General Operating Assumptions section, you can precise the scope, unit (% of rent or a # of weeks / months per year) and value of your vacancy rate.

Rent increase assumption can apply to all units (if scope is General) or be set on a per-unit type basis. When “Per Unit” is selected as the applicable scope, the general value cell is automatically grayed out. Your individual assumptions then have to be entered in the “Unit Details” section rather than in the General Assumptions Section.

Enter your assumptions regarding fixed and variable expenses. Fixed expenses assumptions automatically apply to all units (scope is global by default). Scope of variable expenses (including capex) can be adjusted as required.

Overhead Expenses Assumptions

Enter the overhead expenses of your multi-family property in the Overhead Expenses Assumptions sub-section. These expenses can be entered using various units:

• Per Unit (M): $ amount per unit per month. Total annual cost calculated as: $ amount x # of units x 12
• Per Unit (A): $ amount per unit per year. Total annual cost calculated as: $ amount x # of units
• % GSI: Amount calculated as: a % of Gross Scheduled Income of your property (including all units)
• $ Monthly: General $ amount paid monthly. Total yearly cost calculated as: $ amount x 12
• $ Yearly: General $ amount paid yearly.

For each overhead expense, it is possible to enter an annual rate of increase (unless you have selected % of GSI, in which case the expense will grow proportionally with GSI).

Rule of Thumb

If you don’t want to enter detailed operating assumptions regarding your property, you can use the Rule of Thumb feature to quickly estimate operating expenses (including capex) as a % of GSI.

Unit Details

The Unit Details section lets you enter specific operating assumptions for each unit type. Up to 10 unit types can be used in the spreadsheet and an unlimited number of units can be associated with each unit type.

Use the “# of units” to indicate how many units compose each unit type. For instance, if your property includes 3 studios and 4 one-bedrooms, enter 3 in the first column and 4 in the second column, then enter the assumptions applicable to each unit type:

• Unit information: Type, # of bedrooms, # of bathrooms, square footage
• Rental Income per Unit: GSI, vacancy, other income
• Fixed Expenses: Up to 6 fixed expenses can be entered. Names of these expenses can be modified in the General Operating Assumptions subsection
• Variable Expense:  Up to 6 variable expenses can be entered. Names of these expenses can be modified in the General Operating Assumptions subsection

• Other Assumptions:
  • Rent Growth Methodology: Select a flat rate to apply a constant annual growth rate to a unit type over the forecasted period. This rate should be entered in the cell located right below it (called “Annual Rent Increase”). Select Yearly Rate if you wish to apply a custom growth rate each year. If selected, this assumption must be entered in the “Unit Data” tab in the line and column reflecting the appropriate unit type and year.
  • Other Income Increase: if you previously selected “Per Unit” as the applicable scope for the Other Income Increase, enter the appropriate growth rate for each unit type.

Once information has been entered for all applicable unit types, the spreadsheet will automatically calculate the consolidated monthly and yearly amounts which will then flow to the Unit Data tab.