Lease Charges vs Market Rent Listed in Rent Roll

[Jacob Chaney]

Hey everyone, I just received a rent roll from an apartment building I've been working on. The property managers have one column labeled 'Market Rent' with a dollar figure of $12,538.00 and a column labeled 'Lease Charges' with a dollar figure of $11,585.00.

Can someone more experienced than I tell me what the difference is between the two? I'm trying to figure out EXACTLY how much is collected in rents every month.

Thanks everyone!

[Matt Clark]

@Jacob Chaney the “Lease Charges” column is the actual rent charged. The “Market Rent” column is what the management company considers fair market rent, and there are many different ways that market rent is determined. In most cases it’s a somewhat arbitrary number, not based on any real equation.