How does CMHC appraise the DND Residential Housing Units? What is their methodology?
CMHC appraisers start by researching the local real estate market to collect data. This data includes the availability of rental properties, turnover and vacancy rates, the supply of rental properties, terms and conditions of leases, and any other factor that may influence the market in a particular community. Data is obtained from numerous sources, including property managers, newspapers, owners, realtors, developers, rental magazines, data services, fee appraisers and municipal offices. Appraisers then use the comparative approach, a widely used method that provides a reliable indicator of market rent. Once the CMHC appraisers have gathered all the necessary data, they compare specific DND Residential Housing Units with similar properties on the local market. They will examine a number of characteristics, such as location, size, number of bedrooms and bathrooms, age, parking, overall condition, etc. All these characteristics are evaluated one by one, and a percentage value is establi
Related Questions
- Can I see the rental information CMHC used to appraise the DND Residential Housing Units and the address of the house that my residential housing unit was appraised against?
- How does CMHC appraise the DND Residential Housing Units? What is their methodology?
- If a residential component is constructed, will it include affordable housing units?
