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A rental listing is a formal document that lists all rental properties owned by a specific owner or rental company, including information about rental prices and occupancy status. It can be helpful for obtaining financing, managing tenant records, and listing real estate for sale.
Sometimes called a rental registry, a rental listing is a formal document that lists all rental properties owned by a specific owner or rental company, and information about the rental prices associated with those properties. The level of detail included in a rental listing will vary based on local custom, the personal preferences of the owner and, in some cases, local laws and regulations that have to do with the accounting process for local businesses. In either form, the rental roll provides a quick and easy reference for the properties involved, along with basic information that may be helpful in obtaining financing or managing tenant records.
A basic rental listing will include essential data on each property currently owned by the owner. This basic data will include the location of the rental property, whether that property is currently occupied or vacant, and the rental fee attached to that property. The roll may also include the physical address of each property along with a brief description. When used as part of accounting documents, the rental record will also document the current status of payments received from tenants, making it easy to determine which tenants are behind and which are current on their rent obligations.
Additional details may be included on the rental record at the owner’s discretion. For example, some scrolls will indicate if a given property is currently leased and when that lease will expire. If the property is rented on a monthly basis, that information will also be included. Some rental rolls will also include information about recent updates to the property, providing a landlord a quick reference when it’s time to renew a lease or prepare a recently vacated property for a new tenant.
Depending on the type of information included in the rental listing, this document can be very helpful when the owner chooses to list real estate for sale. Since the roll is often a continuous document capturing rental history, the details can be extracted and provided to potential buyers. At a glance, the buyer can see how much income the property generates per unit, the status of any applicable rental leases, and the current rent for each of those units. Data of this type is often essential for buyers who are seriously considering the purchase of a rental property, as it helps to get an idea of whether the property can eventually pay for itself and become a money maker.
Smart Asset.
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