Residential
Valuation 2 to 4 units
Service
Rental
Rental buildings with 2 to 4 units
The appraisal of a building with 2 to 4 dwellings is different from the appraisal of a single-family residence, and also from the appraisal of a building with 5 or more dwellings. In fact, we need to consider not only rental income, but also whether the property is held for pure investment or by an owner-occupier. Although this should not impact value, we can sometimes detect certain variances in the market.
For any questions : 514 788-0612
Have your income property appraised
The valuation methods used by the experts are the cost method and the comparison method. Many people would be tempted to believe that the income method is applicable to this asset class, but don’t be surprised if it isn’t applied, as the application of this method requires more sources of income to enable a more efficient market analysis. As mentioned above, owner-occupiers don’t buy 2 to 4-unit buildings in the same way as property investors. We could therefore say that the valuation approach for this type of building is a hybrid between the valuation of single-family dwellings and buildings with more than 5 units.
There are many reasons why you might want to hire an appraiser for your 2 to 4-unit building. That’s why we always recommend talking to your expert, so that he can ask you questions about the purpose of such expertise.
Here are a few examples:
- Valuation for financing purposes
- Valuation for division of assets
- Valuation for sale
- Valuation for estate purposes
- Valuation for tax purposes (taxation, capital gains, etc.)
- Valuation for insurance purposes
- Valuation for litigation purposes (expropriation, loss of value, municipal assessment dispute, etc.)
As you can see, the reasons given above are many and incomplete. We can guide you through the vast world of appraisal. It’s important to feel comfortable talking to your expert, as he or she is bound by professional secrecy.