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RES 450 Week 4 DQ 2 -
The Income Approach
Identify a property type that you think should be valued using the income approach. In 250 - 300 words, discuss how you would use the income approach to appraise this property type:
- List the six steps in the income approach to value.
- Explain the use of gross income multipliers in the income approach.
- Define the terms contract rent and market rent as used in appraisals.
- Name the three main categories of expenses and give examples of items in each.
- Outline the procedure used for reconstructing the owner’s operating statement.