Shahab Malik
Freshman Member
- Joined
- May 9, 2006
- Professional Status
- Appraiser Trainee
- State
- California
In Fannie Mae Form 1007 (Comparable rent schedule), in the Comments section, it reads:
"Comments on market data, including the range of rents for single family properties, an estimate of vacancy for single family rental properties, the general trend of rents and vacancy, and support for the above adjustments. (Rent concessions should be adjusted to the market, not to the subject property.)"
Now what does "Rent concessions should be adjusted to the market, not subject.." mean? Isn't everything adjusted to the subject? If the landlord pays for the gas, say $50/ month, then shouldn't the comps then show a +50? How is something adjusted to the market?
"Comments on market data, including the range of rents for single family properties, an estimate of vacancy for single family rental properties, the general trend of rents and vacancy, and support for the above adjustments. (Rent concessions should be adjusted to the market, not to the subject property.)"
Now what does "Rent concessions should be adjusted to the market, not subject.." mean? Isn't everything adjusted to the subject? If the landlord pays for the gas, say $50/ month, then shouldn't the comps then show a +50? How is something adjusted to the market?