DSCR Loan Rent Roll Requirements

DSCR loan rent roll requirements exist because the product qualifies on property income. If the rent roll is fictional, the ratio is fictional. Underwriters compare leases, deposits, and (for some STR files) platform histories against the number you used in DSCR.

This is not a lender overlay sheet. It is the literacy layer so you do not send a spreadsheet that cannot be tied to leases. Inquiry is not an application.

In-Place Rent vs Market Rent

Two different numbers:

• In-place — what leases actually pay now
• Market — what an appraiser’s rent schedule says a vacant or under-market unit could pay

Purchase files on vacant homes often use market rent (haircut rules vary). Refinance files with tenants in place are more likely to be held to in-place rent, sometimes with a cap if in-place is wildly above market. See vacant property DSCR and what is a DSCR loan.

A rent roll that lists “market” on occupied units without leases is a condition magnet.

What a Usable Rent Roll Contains

For each unit:

• Unit ID
• Tenant name (or “vacant”)
• Lease start/end and renewal status
• Monthly rent and any concessions
• Security deposit held
• Occupancy (long-term vs STR)

Attach executed leases. If deposits land in a property-manager account, the statement that receives rent is the proof — invoices alone often fail that test in real files.

Short-Term Rentals

STR “rent rolls” are trailing twelve, platform exports, or third-party projections — not a W-2. Programs may haircut gross (a 20% expense factor is a common educational example, not a promise). Seasonality matters. See vacation rental DSCR.

2–4 Units vs 5–8

2–4 unit DSCR often looks like a residential-investment form (1007-style rent schedule from the appraiser plus leases). 5–8 unit files lean commercial: T-12, rent roll, and experienced-investor overlays. This site does not pitch 5–8 to first-time investors as a sure path. See 5–8 unit loans.

Census housing data is useful context for markets; it does not replace leases.

Exploring DSCR financing for an investment rental? Submit a confidential inquiry or call (907) 841-1600.

Request DSCR Info →

Concessions and Teaser Rents

One month free on a 13-month lease is not $X/month for DSCR. Underwriters annualize net effective rent. A roll that shows headline rent only will get restated.

Section 8 / HAP

Housing assistance payments can be strong income if the contract is documented. They can also be specialized. Disclose. Do not hide subsidy as “market rent.”

Match unit mix to the appraisal (beds/baths). A 3/2 that you rented as five rooms by the week is a use and zoning issue, not just a roll issue.

DSCR loan rent roll requirements for in-place versus market rent

DSCR loan rent roll requirements exist because the ratio is only as honest as the income. In-place leases, concession-adjusted effective rent, vacant units, and STR platform reports are different evidence. One month free on a 13-month lease is not headline rent. Underwriters annualize net effective.

Census housing does not replace a lease. Unit mix must match the appraisal (beds/baths). Five unrelated adults in a 3/2 is a use and zoning issue. Section 8 / HAP can be strong if documented — do not hide subsidy as “market.”

2–4 unit DSCR rolls are simpler; 5–8 starts looking commercial (T-12, vacancy loss). STR needs a trailing period of deposits, not a screenshot of a calendar. Related-party leases get extra scrutiny.

Send the roll in the same format every time: unit, tenant, start/end, rent, deposits, vacant flag. Call (907) 841-1600 if the question is which income the desk will accept on a mixed LTR/STR fourplex.

Related-party rents, employee units, and other roll fiction

Mom-and-pop rolls that rent to family at $1 or to an employee as “comp” will be restated to market or disallowed. Short-term month-to-month with no history is weaker than a 12-month lease. If you just raised rents effective next month, the desk may still use in-place.

STR “occupancy” from a blocked calendar is not income. Deposits in the business account are. Match the roll to bank deposits on a sample of units if asked.

Call (907) 841-1600 when the mix is LTR plus a couple of STR units — that hybrid is where rolls get argued.

Security deposits, prepaid rent, and what is not monthly income

Deposits on the roll are not rent. Last-month prepaid collected at move-in is not twelve months of income. Keep those columns honest so DSCR loan rent roll requirements do not turn into a restatement fight. Match a sample of units to the lease PDF. Call (907) 841-1600 if prepaid and STR deposits are tangled in one operating account.

Frequently Asked Questions

Do I need a rent roll on a single-family rental?

You need the lease or a vacant/market-rent story. A one-line rent roll still helps. SFR is just a one-unit roll.

Can I use AirDNA instead of leases on a purchase?

Some STR purchase programs allow third-party projections with rules (freshness, comparables, haircuts). Refinance of an operating STR is more likely to want actuals. Ask before you skip leases.

What if a tenant is family at below-market rent?

Related-party rents get tested. You may be underwritten to the lesser of in-place or market. Related-party occupancy can also raise occupancy questions.

How current must the rent roll be?

Typically dated close to application and updated before closing if anything changed. A six-month-old roll with a tenant who left is a problem.

Does the rent roll replace bank statements of rent deposits?

Usually both. The roll is the schedule; statements show money moved. See reserves for the cash side of the file.