T12 to Excel — with the NOI Verified
Turn any trailing-twelve-month operating statement into structured line items — and know the math ties out before the numbers reach your underwriting model.
Why T12s are painful to digitize
Every property manager formats the T12 differently: income above or below the expense block, vacancy shown as negative income or as a deduction line, subtotals that may or may not be printed, months running fiscal or calendar. Generic PDF converters copy the layout and leave you re-keying. And a silent OCR error in one month's utilities flows straight into the NOI — and into your valuation.
What the extractor returns
- Categorized line items — every row classified as income, expense, or subtotal and normalized into standard buckets: gross potential rent, vacancy loss, concessions, real estate taxes, insurance, utilities, repairs & maintenance, payroll, management fee, and more.
- Monthly values + totals — aligned to the statement's reporting months (annual-only statements work too).
- Deterministic verification — row totals recomputed from monthly values; EGI reconciled against income rows; Total OpEx against expense rows; NOI against EGI − OpEx; expense signs sanity-checked; month sequence checked for gaps. Anything uncertain is flagged with a confidence score, never silently guessed.
Why verification matters for a T12
NOI drives value. At a 6% cap rate, a $10,000 extraction error in annual NOI misstates the property's value by roughly $167,000. The verification report tells you the extracted statement is internally consistent — or exactly which line to check.
One API call
curl -X POST "https://rentrollapi.com/v1/extract/operating-statement?format=xlsx" \
-H "X-Api-Key: rr_live_your_key_here" \
-F "file=@t12.pdf" -o t12.xlsxPDF (native or scanned), Excel, and CSV inputs all work. Choose format=json for structured data with per-field confidence, xlsx for a workbook with months as columns plus a verification sheet, or csv. Scanned statements route through a multimodal OCR path with the same verification pass. See the full API reference.
Underwriting a property? Pair it with the rent roll
The same API extracts and verifies rent rolls — so one integration digitizes both documents in a typical CRE deal package. Both endpoints share your key, quota, and pricing; a T12 counts as one document. AI assistants can call both through the MCP server.