Property Valuation
In New York, the 'gross income multiplier' (GIM) and 'gross rent multiplier' (GRM) differ in that:
AThe GIM uses net income; the GRM uses gross rental income
BThe GIM is based on total gross income from all sources; the GRM is based only on gross rental income✓ Correct
CThe GRM is used for commercial properties; the GIM is used for residential
DThey are the same thing by different names
Explanation
The Gross Rent Multiplier (GRM) uses gross rental income only (from rents), while the Gross Income Multiplier (GIM) uses total gross income from all sources (rents plus other income like parking, laundry, etc.). Both are quick valuation tools, and both are gross (before expenses) measures. The GIM is slightly more comprehensive than the GRM.
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