Analyzing "other" income

A reliable income appraisal requires an accurate estimate of other income. Other income represents a secondary source of revenue typically generated as a service to real property's primary revenue source, space rental. Most appraisers are willing to accept a broad definition of what constitutes...

Full description

Saved in:
Bibliographic Details
Published in:The Appraisal journal 1992-04, Vol.60 (2), p.257
Main Authors: Anglyn, William Ted, Edmonds, III, Charles P, Hand, John H
Format: Article
Language:English
Subjects:
Apartments
Appraisals
Appraisers
Fees & charges
Income
Interest income
Management
Methods
Property management
Real estate appraisal
Real estate appraisers
Rentals
Rents
Techniques
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:A reliable income appraisal requires an accurate estimate of other income. Other income represents a secondary source of revenue typically generated as a service to real property's primary revenue source, space rental. Most appraisers are willing to accept a broad definition of what constitutes a source of other income, with the result that other income is not uniformly or authoritatively presented in appraisal reports. Documentation is the key determinant of the legitimacy of sources of other income. In the analysis of other income sources, an appraiser should analyze and thoroughly consider the applicable sources. Prior to determining what constitutes other income, certain items should be specifically excluded from the category, including deposit forfeits, interest on deposits, late fees, bad check fees, and refundable security deposits.
ISSN:0003-7087