Get documents about "Rent or Own Worksheet
Description
Rent or Own Worksheet document sample
Document Sample
HOME Application
Rent Worksheet
Complete the first five columns (A through E) for all units in the development. If tenants pay their own utilities, use the Utility Allowance Sheet
to calculate Utility Allowances. If the rent includes utilities, put a zero in the Utility column.
Pre-set formulas will calculate gross monthly rent and annual rent (excluding utilities).
Use the Annual Rent column total for line 2 on your operating proforma.
A B C D E F G H
Do Tenants Is unit a HOME
Pay Utilities? unit? Base Utility HOME (Gross)
Unit Address BR Count Yes / No Yes / No Monthly Rent Allowance Monthly Rent Annual Rent
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
TOTAL $0
45ad38de-4bb8-4eb2-9a02-977516d10cf2.xlsRent Worksheet
HOME Application For projects involving
Rental Units
Operating Proforma
1 Annual Income Budget Notes
2 Total number of units
3 Total Annual Rent (from Rent Worksheet)
4 Less Vacancy Rate of 5% $0 If a higher vacancy rate will be calculated, please justify.
5 Other Income (laundry etc.)
6 Specify Other Income source
7 TOTAL Annual Income $0
8
9
10 Annual Operating Expenses
11 Utilities (incl. sewer, water)
12 Maintenance
13 Taxes
14 Insurance
15 Reserves & Capital Expenditures
16 Property Management Management fees should be about 6 - 7% of Gross Rent if professionally managed
17 Other:
18 TOTAL Operating Expenses $0
19
20
21 Annual Cash Flow
22 TOTAL Annual Income $0
23 TOTAL Operating Expenses $0
24 Net Operating Income (NOI) $0 Total Annual Income less Total Operating Expenses
25
26 NOI (from line 24) $0
27 Monthly Mortage Payment
28 Annual Debt Service $0 monthly mortgage X 12
29 Cash Flow $0 NOI minus Annual Debt Service
30
31 Debt Coverage Ratio (line 26 divided by line 28) #DIV/0! NOI divided by Annual Debt Service
32
33 Total Operating Cost per unit (line 18 divided by #VALUE! Divide Total Operating Expenses by the number of units.
34 line 2)
45ad38de-4bb8-4eb2-9a02-977516d10cf2.xlsOperating Proforma
HOME Application Sources
Development Pro-forma: SOURCES
SOURCES (fill in all those that apply) Amount Terms Committed? Yes / No
RIH HOME funds
Other HOME - City:
Supportive Housing Program (SHP)
Family Housing/Permanent Supportive Housing (NOP)
Building Better Communities (NOP)
CDBG - municipality:
Lead - RIH or Municipality:
Thresholds
Next Step
Self Help Homeownership Program (SHOP)
Affordable Housing Program
Low Income Housing Tax Credit (LIHTC)
Historic Tax Credits
Targeted Loan
Bank:
RIH 1st mortgage
Private Foundations
Sales Proceeds
Other:
TOTAL $0
45ad38de-4bb8-4eb2-9a02-977516d10cf2.xlsDevelopment Proforma - Sources
HOME Application
Development Pro-forma
USES
The Sources Columns should correspond with those listed on the Sources page of the Development Proforma.
Indicate Source Indicate Source Indicate Source Indicate Source
here: HOME here: here: here:
Uses
Activity Amount
Acquisition $0
Architectural/Engineering $0
Demolition $0
Lead Abatement $0
Construction/Rehabilitation $0
Contingency $0
Site Work $0
Financing costs $0
Legal costs $0
Soft Costs - Identify: $0
Developer Fee $0
Consultant Fee $0
Relocation * $0
Other: $0
$0
TOTAL $0 $0 $0 $0 $0
* calculate permanent relocation at $9,000/household and temporary at $3,000/household
45ad38de-4bb8-4eb2-9a02-977516d10cf2.xlsDevelopment Proforma - Uses
