Apartment Complex Appraisal
Averaging an apartment complex hides the loss
One building may need a roof assembly. Another may have water through three floors. A third may have only exterior damage. A blended rate treats those buildings as if they shared one loss. They do not.
Loss Recovery Experts builds the appraisal building by building and unit by unit, then reconciles the physical record with the rent roll.
Building and unit matrix
| Record | What it proves |
|---|---|
| Building list | Every structure in the loss, including offices, clubhouses, carports, and maintenance buildings |
| Unit matrix | Floor plan, finishes, appliances, damage, repair status, and occupancy for each unit |
| Roof record | Assembly, damaged area, wet materials, repair boundary, and phasing by building |
| Rent roll | Unit, tenant status, lease rent, concessions, delinquency, and move-out data |
| Downtime log | The dates each unit was uninhabitable, under repair, or returned to service |
| Common-area inventory | Pools, fencing, lighting, signage, pavement, laundry, and site systems |
Rent-roll reconciliation
Lost rent cannot be built from a summary alone. The review reconciles the rent roll to leases, occupancy before the loss, damaged units, move-outs, concessions, repairs, and reoccupancy dates.
That reconciliation separates three questions:
- Which units were actually damaged?
- Which rents stopped because of the loss?
- How long did the physical repair keep each unit out of service?
The property record and income record must agree. If the matrix says a unit was restored in March, the rent record should not treat it as vacant through June without an explanation.
Deductibles and repair phasing
Do not assume how a hurricane or named storm deductible applies. The policy may use a structure that changes the payment math by building, occurrence, or another measure. The estimate should be organized so the deductible can be applied exactly as the policy requires.
Phasing also matters. Roof crews, interior trades, life safety work, and tenant access may proceed building by building. The sequence affects temporary repairs, relocation, downtime, and cost.
Common structures carry real value
Leasing offices, clubhouses, fitness rooms, pools, carports, fencing, gates, lighting, signage, and site drainage are part of the operating property. They need their own scope and pricing, not a leftover allowance.
Start with the property records
Send the policy, insurer estimate, rent roll, unit matrix, building list, leases for affected units, downtime records, and any engineer or contractor reports. The review builds one file from the physical and income records.