Definitions for key multifamily finance and analytics terms used throughout Coastwise Analytics and the industry.
A register of all units in a multifamily property listing the tenant name, unit number, lease start and end dates, monthly rent, and current occupancy status. It is the primary source document for evaluating a property's leasing activity.
Trailing 12-Month financial statement. A T12 shows a property's income and expenses over the last 12 months, typically broken out by month. It is the standard financial input for underwriting and asset management review.
The difference between the current market rent and the actual in-place lease rent for occupied units. A high loss-to-lease figure indicates significant upside potential as leases roll to market.
Discounts or incentives offered to prospective or renewing tenants such as free rent periods, waived application fees, or reduced deposits. Concessions reduce effective rent and are tracked separately from contract rent.
Rental income that has been written off because it was not collected from tenants. Bad debt is an operating expense that reduces effective gross income and is closely watched as a signal of property health.
Total potential rental income minus vacancy loss, credit loss, and concessions, plus any other income such as parking or laundry fees. EGI represents the revenue a property actually collects.
The maximum rental income a property could generate if every unit were occupied at full market rent with no vacancy or concessions. GPR is the theoretical top-line revenue figure used as a starting benchmark.
The percentage of potential revenue that is actually collected, accounting for vacancy, concessions, bad debt, and non-paying tenants. Different from physical occupancy, which only measures whether units are physically occupied.
Our guides walk through how these concepts apply in real multifamily workflows.