STR analysis

[Tee]

TOTAL does not have a form for STR. I was advised that other appraisers do narrative conclusions on Addendum. Any ideas as to how I go about getting information for a NARRATIVE report. Is there a existing form that is used that might be generic that is accepted by FNMA?

 

[Terrel L. Shields]

Is there a existing form that is used that might be generic that is accepted by FNMA?

STR have nothing to do with Market Value...just so you know. STR are a business value involving furnishings and BEV.... CG territory

D

Thread 'Short Term Rental Analysis'

Feb 24, 2024

Has anyone compiled data for a short term rental, ie daily/weekly for a specific lender request. If so, can you share the process that you used? TY!

• Dan Hake
• Replies: 32
• Forum: General Appraisal Discussion

 

[glenn walker]

No they have no form.

 

[BRCJR]

TOTAL does not have a form for STR. I was advised that other appraisers do narrative conclusions on Addendum. Any ideas as to how I go about getting information for a NARRATIVE report. Is there a existing form that is used that might be generic that is accepted by FNMA?

Think of it as a very small hotel. You will need to evaluate the real property (value 1), FF&&E (value 2) and intangible value or going concern (value 3).

Then reconcile your value of sales and income approaches. Doubt the cost approach would be necessary for credible results.

A lot of states will sanction a residential Appraiser for completing a STR.

 

[Dublin ohio]

that is accepted by FNMA?

FNMA does not need or want an STR analysis from the appraiser. They want rentals based on typical longer term rents

 

[Tom D]

I wouldn't do it, what experience have you had. How much do you know about expenses and profit for how long a time period needed to give any accurate number.
State will fine your residential butt for doing something more commercial wise.

 

[glenn walker]

Don't do them unless it's a business like a motel or bed and breakfast. Too much liability for A CR to make $75.00 bucks.

 

[Functional Obs]

Several of the education providers now have classes on STR's. Haven't taken one, but I suspect they would have some ideas about tables, spreadsheets, or templates...

 

[Sadie]

TOTAL does not have a form for STR. I was advised that other appraisers do narrative conclusions on Addendum. Any ideas as to how I go about getting information for a NARRATIVE report. Is there a existing form that is used that might be generic that is accepted by FNMA?

As a res appraiser, you should not be doing that. Fannie has guidance on this.

 

[Sadie]

Several of the education providers now have classes on STR's. Haven't taken one, but I suspect they would have some ideas about tables, spreadsheets, or templates...

They are business appraisals. And more in line with a CG than a res appraiser.