Hi Rhode Island Friends,
It was our pleasure to present at the Rhode Island Association of Assessing Officers Spring Meeting last Friday on Commercial Valuation and Specialty properties.
For those who weren’t able to attend, below is a brief summary of what Vision’s Mike Tarello, MAI, shared during his presentation session.
- Specific tips & tricks for increasing the response rate and data quality from your I&E forms
- A proven and simple roadmap for analyzing actual income
- The importance of identifying outliers for rental rates, expense ratios, and vacancy rates
- How to determine and apply location and utility adjustments for rental rates
- How to handle vacancy allowances
- Calculating operating expenses and net operating income
- Key factors to consider when determining gross potential income (e.g., market level rental rates, recent lease details, renewals vs. new leases, rental concessions, multiple year leases, gross building area vs. net leasable area, etc.)
- Factors to consider when identifying capitalization rates (interest rates, risk, loan-to-value ratios, property type adjustments, tax factors, etc.)
- The impact of personal property on specialty property valuation
- And much more…
Interested in asking any follow-up questions or getting a debrief of the sessions?
Click here to get in touch with our Appraisal Team.
The Vision Team