# Lease to Own Home Worksheet

Document Sample

Application
Rent Worksheet
Project Name:
Complete the first seven columns (A through G) for all units in the development. If tenants pay their own utilities, use the Utility Allowance Sheet
to calculate Utility Allowances. If tenants do not pay their own utilties, put a zero in the Utility column.
Always complete Column I - Gross Monthly Rent. Pre-set formulas will calculate annual rent.
Use the Annual Rent column total for line 2 on your operating proforma.

A                 B               C                 D                 E                  F                  G                  H                  I             J

Do Tenants          Is unit a          Is unit a          Is unit a
Net (of util.
Pay Utilities?      NOP unit?        HOME unit?          BHRI unit?          allow.)            Utility              Gross
Unit Number            BR Count       Yes / No           Yes / No          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

b1d5560d-0418-41b9-8fb3-d3dff176fb45.xlsRent Worksheet
Application                                                    For projects involving
Rental Units
Operating Proforma
Project Name:

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.), NOP
6    Specify Other Operating 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   Supportive Services
18   Other:
19   TOTAL Operating Expenses
20
21
22   Annual Cash Flow
23   TOTAL Annual Income                                           \$0
24   TOTAL Operating Expenses                                      \$0
25   Net Operating Income (NOI)                                    \$0 Total Annual Income less Total Operating Expenses
26
27   NOI (from line 24)                                            \$0
28   Monthly Mortage Payment
29   Annual Debt Service                                           \$0 monthly mortgage X 12
30   Cash Flow                                                     \$0 NOI minus Annual Debt Service
31
32   Debt Coverage Ratio (line 26 divided by line 28)    #DIV/0!        NOI divided by Annual Debt Service
33
34   Total Operating Cost per unit (line 19 divided by   #DIV/0!        Divide Total Operating Expenses by the number of units.
35   line 2)

b1d5560d-0418-41b9-8fb3-d3dff176fb45.xlsOperating Proforma
Application                                  Sources
Development Pro-forma: SOURCES
Project Name:

SOURCES (fill in all those that apply)**       Amount               Terms   Committed? Yes / No
RIH HOME funds
Other HOME - City:
Building Homes Rhode Island
Neighborhood Stabilization Program (NSP)
HUD 811
HUD 202
McKinney (Supportive Housing Program) Funds
CDBG - municipality:
Thresholds
Special Needs Rental Production Program (SNRP)
Self Help Homeownership Program (SHOP)
Affordable Housing Program (FHLB - AHP)
Low Income Housing Tax Credits
Federal Historic Tax Credits
State Historic Tax Credits
Targeted Loan
Rhode Island Housing First Mortgage
Non RI Housing Permanent Financing
Construction Financing: indicate bank / lender:
Lender:
Private Foundations
Sales Proceeds
Other:

TOTAL                                                                    \$0

REQUIRED FOR NEW CONSTRUCTION AND REHABILITATION PROJECTS: APPLICATION MUST INCLUDE
EVIDENCE OF COMMITTED CONSTRUCTION FINANCING/OTHER SOURCES.

b1d5560d-0418-41b9-8fb3-d3dff176fb45.xlsDevelopment Proforma - Sources
Application
Development Pro-forma
USES

Project Name:

Project Name:
The Sources Columns should correspond with those listed on the Sources page of the Development Proforma.

Indicate Source            Indicate Source        Indicate Source        Indicate Source   Indicate Source
here:                      here:                  here:                  here:             here:
Uses
Activity                                                                                                                                                         Amount
Acquisition                                                                                                                                                               \$0
Construction/Rehabilitation                                                                                                                                               \$0
Site Work                                                                                                                                                                 \$0
Environmental Remediation                                                                                                                                                 \$0
Contingency                                                                                                                                                               \$0
Architectural/Engineering                                                                                                                                                 \$0
Demolition                                                                                                                                                                \$0
Soft Costs - Identify:                                                                                                                                                    \$0
Legal costs / Title / Recording
Financing costs
Permits/Surveys/ Environmental Reports
Appraisal / Market Study
Marketing and Lease-Up
Insurance during construction
Utilities during construction
Taxes during construction
Approved Monitoring Agent Fee
Developer Fee                                                                                                                                                             \$0
Consultant Fee                                                                                                                                                            \$0
Relocation *                                                                                                                                                              \$0
Reserves                                                                                                                                                                  \$0
\$0
TOTAL                                                                \$0                     \$0                     \$0                                       \$0            \$0

* calculate permanent relocation at \$9,000/household and temporary at \$3,000/household

b1d5560d-0418-41b9-8fb3-d3dff176fb45.xlsDevelopment Proforma - Uses

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