2016 Rental Results By The Numbers

With the year complete and work on income taxes under way, time to reflect on results.

Like last year, I’ll contrast some of the rental numbers between 2015 and 2016. 2015 was our easiest and best year yet. 2016 was slightly worse financially and not as easy.

In 2016 we had one uneventful move-out for our remaining self-managed units, and six move-outs with our property manager (including our first eviction), compared to 3 uneventful move-outs in 2015.

In 2015 our worst property generated an average of $140/door/month, our best property cash flowed an average of $423/door/month, and all the properties aggregated averaged $231/door/month. In 2016 our worst property generated an average of $45/door/month, our best property cash flowed an average of $502/door/month, and all the properties aggregated averaged $213/door/month.

Our maintenance cost was 5% of rent, compared to 3% in 2015. In 2015 we had $2,600 in missed rent and damage; 2016 was up to $4900. We met our goal of over 10 CAP after tax, achieving 11.

We had significantly more empty days with the property manager, 145 and 95% paid occupancy in 2016, compared to 26 days or 98% paid occupancy in 2014. Rents were up 8%.

Another good year.