2-4 Unit Form

[alex gilbert]

Is there anything in USPAP requiring me to disclose the community may pass rent control. Without USPAP, I would mention it.
With USPAP, I'm under no obligation to disclose since it hasn't passed and I'm appraising at this time without rent control.

Sta

 

[alex gilbert]

Is there anything in USPAP requiring me to disclose the community may pass rent control. Without USPAP, I would mention it.
With USPAP, I'm under no obligation to disclose since it hasn't passed and I'm appraising at this time without rent control.

Please review USPAP Standard Rule 1-3(a) and see if it applies to your situation.

 

[normando]

The 2-4 unit form is so much easier than the UAD 1004 forms. It reminds me of the older days when I really appraise and not a bean counter using the UAD forms. I don't need to put contract dates or worry about C3 or C4. What was wrong with average, above average, good, & excellent condition? No need to put in 0s. The old form really forces the reviewer to read the report. Rent control simply asks yes or no on rent control. Life was much simpler. I cloned an older report and I see my standards were much higher like reporting 3 year history even for comps. No need thanks to current 1 year minimum..

 

[normando]

Please review USPAP Standard Rule 1-3(a) and see if it applies to your situation.

It's so general that attorneys can argue one way or another. Does rent control hurt the market? Stabilize the market? Opening a can of worms. I'm thinking of just mentioning it and put a disclosure that I'm not an expert on rent control (even though I know a lot).

 

[normando]

This is what I decided to do with the rent control. I'll mention it, not because of USPAP because I'll use the issue to serve my appraisal perfectly.
Regardless of past price trend, the current conclusion is market is stable and on hold awaiting the outcome of the ballot measure.

 

[J Grant]

Good way to handle it!