Single Family Comparable Rent Schedule

[PropertyEconomics]

In my opinion, no.

Like many USPAP-related things, the advice/opinions in AO-21 are rooted in the DEFINITIONS. Value is defined as



Opining about the market rent is opining the value of using the property. Hence, it would be an appraisal assignment.

If the client wanted only a report of what other properties were renting for, one might call that "consulting." I would call it appraisal practice which which there are no specific Standards Rules.

Mr Wiley .. thanks for the education. The devil is in the details isnt it. Thanks again.

 

[DWiley]

OK....I will admit to being one of "them." Where do I find the definition of market rent?

I usually use the one on the Dictionary of Real Estate Appraisal.

For a self-contained report or summary report one must include the definition of value and cite the source of the definition.

For a restricted use report one must state the type of value and cite the source, but it is not necssary to include the whole actual definition.