2-4 Unit Form

[normando]

I could ask appraisers I know but I don't want them to know. I haven't done a 2-4 unit Form in over 5 years. Ever since AMC controlled the fees, I haven't been able to get my $700+ fees. I finally got one. I don't think UAD got into the form, right? Nothing changed from 5 years ago, right? Anything I should know would help. Thanks.

 

[J Grant]

Correct, nothing changed, no UAD

 

[bnmappraisal]

JG is right. Nothing changed. No UAD. Complete it as you always did

 

[normando]

Takes more effort and concentration. Drawing sketch took longer. Putting photos took longer. I'll find out if my fee was worth it compare to SFR fee.

 

[bnmappraisal]

I'll find out if my fee was worth it compare to SFR fee

It usually isn't. I really don't like doing multi's.

 

[normando]

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.

 

[J Grant]

A market is about actions of well informed buyers. Would a well informed buyer know that the community might soon be subject to rent control? ( is that would you mean?). Rent control can affect property values Id mention it. If not sure how to handle rent control/impact of change I'd pass on the assignment that sounds like an issue that could come back to haunt you

USPAP says don't be misleading, witholding known information that could affect value/marketability is misleading.

 

[normando]

I have to think about this. When there was no USPAP, I would mention it. With USPAP, my standards are lower. I look at what my peers would do. Since many don't know about the Politics (as suppressed in this Forum) of a community, rent control is not mentioned. Rent Control agenda won't be on the agenda until November. I think it will pass but who am I to say (Brexit vote?). USPAP puts emphasis on effective date which as of now possibility of rent control is difficult to determine its effect.

 

[J Grant]

I have to think about this. When there was no USPAP, I would mention it. With USPAP, my standards are lower. I look at what my peers would do. Since many don't know about the Politics (as suppressed in this Forum) of a community, rent control is not mentioned. Rent Control agenda won't be on the agenda until November. I think it will pass but who am I to say (Brexit vote?). USPAP puts emphasis on effective date which as of now possibility of rent control is difficult to determine its effect.

This post makes no sense to me about having lower standards due to USPAP...hasn't USPAP been in effect since you started appraising?

If you have knowledge of possible activity ( a November vote on rent control), that might affect value, why would you not disclose it? Based on this post your comments are not inspiring trust (at least not mine).

Effective as of current date rent control has not been voted on, however you know about an upcoming vote on rent control ,(market knowledge ) so why would you not disclose what you know ?

 

[Tim The Enchanter]

I would mention the rent control thing and be done with it.

$700 is not bad for a 2-4, if it's not a problem deal. To me it depends where the property is, or really if there are comps.
Most parts of the valley you will be hurting for comps, but in lots of parts of LA comps are plentiful.
Sometimes the worst part is accessing all the units. Or maybe just that the hood they are in is sketchy.

Or maybe the worst part is picking up a screw in your tire. In Watts.
I tried that today, glad it did not go flat until I was home.