Property Valuation
In Montana, 'comparable rent analysis' is used by property managers and appraisers to:
ACalculate the property tax based on rental income
BDetermine market rent for a property by comparing it to recently leased similar properties in the same market✓ Correct
CEstablish the maximum rent allowed under rent control
DDetermine the replacement cost of the improvements
Explanation
A comparable rent analysis (rent comparable study) examines rents for similar recently leased properties to determine market rent for the subject property, useful for both property management pricing and income approach appraisal.
Related Montana Property Valuation Questions
- In Montana, a 'drive-by appraisal' (exterior-only inspection) may be appropriate for:
- In Montana, 'site value' in an appraisal refers to:
- In Montana, when an appraiser identifies that a neighborhood is in the 'decline' phase of the neighborhood life cycle, they would expect property values to:
- In the cost approach to value in Montana, 'reproduction cost' differs from 'replacement cost' in that:
- In Montana, 'Automated Valuation Models' (AVMs) such as online home value estimators are:
- In the income approach, effective gross income (EGI) is calculated as:
- A Montana appraiser must be state-certified to perform appraisals for federally related transactions. Which level of certification is required for complex residential appraisals over $400,000?
- A Montana appraiser completing a form appraisal report for a lender (such as the Fannie Mae Form 1004 for single-family homes) is providing a:
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