1007 Rent Schedule and Inspection

[NJ Valuator]

Would you complete a rent schedule without an inspection of the property?

 

[John Wilson]

Would you complete a rent schedule without an inspection of the property?

The 1007 normally gets slapped on the tail end of the appraisal.

Is there an appraisal involved or is someone just looking for market rents?

 

[Bobby Bucks]

There are some in here who accept those orders, personally I do not. I have one client who requests a “rent schedule only” several times a year. I discovered one of the reasons why. An appraisal was done by an out of town trainee or assistant in a sweat shop and they either forgot to include it, didn't know how to do one or they’re not a member of MLS and can't get data. My position when asked is HELL NO unless I'm doing the appraisal too. It's bad enough with AMCs sending out of town appraisers in to undercut my business, but when the client wants me to complete their report with a rent schedule, I’ll be damned if I’ll assist in my own demise.

 

[CANative]

Ditto Bucks.:new_blowingup:

 

[NJ Valuator]

No appraisal; just market rents. I refused the assignment, but just wanted to know what others thought.

 

[Jungle Boy]

If someone wanted to know market rents for a certain type of property, I'd do a comp search and charge for it. Just provide the data, and them sort it out.

I wouldn't actually use the form, as Bobby has wisened me up

 

[larryhaskell]

Double Ditto BB. Rental info is hard to come by in this area so I don't really like doing rental surveys.