ZZGAMAZZ
Elite Member
- Joined
- Jul 23, 2007
- Professional Status
- Certified Residential Appraiser
- State
- California
I am new SFREP client working my first Short Term Rental assignment ever, based on 2.6 format.
As I create the top half of the 2-part STR narrative, near bottom of the STR page 1, the text appears word-by-word in the Income section on 1004 page 3 where Market Rent is multiplied by GRM to obtain Income Approach OV.
Is the link between the STR form and the 1004 form intregarl to STR methodology that consequently establishes a short-term-based GRM--which might make sense if it disclosed and if the client is aware of the distinction between that and a typical GRM? [asking because I don't know if it is a software glitch or the industry way to determine a STR-based OV.]
Thanks peers.
As I create the top half of the 2-part STR narrative, near bottom of the STR page 1, the text appears word-by-word in the Income section on 1004 page 3 where Market Rent is multiplied by GRM to obtain Income Approach OV.
Is the link between the STR form and the 1004 form intregarl to STR methodology that consequently establishes a short-term-based GRM--which might make sense if it disclosed and if the client is aware of the distinction between that and a typical GRM? [asking because I don't know if it is a software glitch or the industry way to determine a STR-based OV.]
Thanks peers.