All narrative reports are completed in accordance with Canadian Uniform Standards of Appraisal Practice (CUSPAP) and the Code of Ethics and Regulations of the Appraisal Institute of Canada. A typical narrative report will contain 60 pages. The report is completed, with the intent of providing the reader a presentation of facts in the form of text, images and and photographs such that the reader finds all potential questions answered within the report.
All Form reports are completed in accordance with Canadian Uniform Standards of Appraisal Practice (CUSPAP) and the Code of Ethics and Regulations of the Appraisal Institute of Canada. A typical form report will contain 12 pages. The report is completed, with the intent of providing the reader a brief presentation of facts in the form of text, images and and photographs such that the reader finds minimum necessary information within the report.
Income Producing Properties
The appraiser does not audit the current and historic income and expense information at a Subject Property. Usually the report makes the assumption the information provided is accurate. Information provided is compared with information from other similar properties and comment made on the difference between the Subject Property and the “normal” market figures.
Required income information includes current rent roll, name and occupancy date of tenants, history of vacancy at the Subject Property, copy of lease or tenant acknowledgments.
Required expense information includes current year annual insurance premium, current year total property taxes, 3 to 4 years of records detailing utility costs, garbage removal, site maintenance, building maintenance and a summary of costs of capital improvements completed at the Subject Property.
Income and expense information is not required for single family residential properties. The inspection at the Subject Property provides a majority of the details required to complete the appraisal. It is important for the client to provide information detailing the date and amount of the capital expenditure for any capital improvements completed inside and out side the home.
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