1007 and 216 Requirements

[OG80]

AS far as the 1007 goes. Just use market rents to develop opinion of market rent for subject. Some items for the 216 will be somewhat easy to estimate. Such as replacement reserves. Since everything will be new. Depending on the type of roof. You economic life could be anywhere fro 20-50 years. You can get an idea of appliance life from various on line sites. Furnaces usually have a life of about 20-25 years. AC units maybe 15-20 years. In Texas. Probably shorter as they probably run a lot more than in the midwest. Maintenance costs can vary. A lot depends on quality of tenant. But you can assume that tenant will take reasonable care of unit. Management cost around here is usually about 6% of rental rate. Your market may vary. Some of it will be a "swag".

Found 16 rentals around the subject. Oldest rental was built in 2017. Any chance anyone has a Sample (black out the Name/Town/etc) I could look at (both the 1007 and 216)?

 

[KONA]

Here is a work sheet I used many years ago for calculating various items for the 216

 

[TerryRohrer]

Found 16 rentals around the subject. Oldest rental was built in 2017. Any chance anyone has a Sample (black out the Name/Town/etc) I could look at (both the 1007 and 216)?

In your spare time, you need to find yourself an actual mentor! Not sure what your situation is, but something there seems amiss!

 

[OG80]

In your spare time, you need to find yourself an actual mentor! Not sure what your situation is, but something there seems amiss!

I'm sorry TerryRoher. Am I bothering you by asking questions on here? You can simply not read my posts if that is the case. I find a lot of help on here and the appraisers on here are fantastic!!

 

[KONA]

Oldguard, quite a number of years ago, prior to retirement; I wrote a brief on filling out the form 216. Here is a copy for you. Its quite dated, but, I hope this gives you some direction.

 

[OG80]

Oldguard, quite a number of years ago, prior to retirement; I wrote a brief on filling out the form 216. Here is a copy for you. Its quite dated, but, I hope this gives you some direction.

Thank you very much, but it won't download or open. Is it in a PDF format?

 

[KONA]

I sent it as a pdf

 

[KONA]

If you can't open it. PM me and I'll email the document to you.

 

[KONA]

Try this one

 

[KONA]

Better post me