Article · 7 min read

Reading a rent roll the way an underwriter does

June 26, 2026
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In short

A rent roll gets read twice: once by someone checking the total, and once by someone checking when it stops being true.

An illustrative example. This piece shows how a deal moves on the platform. It is written rather than reported, and the figures in it are not drawn from a specific transaction.

The number at the bottom is the least interesting part. The rollover schedule is the story.

A rent roll gets read twice: once by someone checking the total, and once by someone checking when it stops being true.

Rollover concentration is what moves a valuation. Four tenants expiring inside the same eighteen months is a different asset from the same income spread across a decade.

Read the options too. A below-market renewal option is a rent reduction with a delay on it, and it belongs in the model the day you find it.