The Appraisal Institute has released a form intended to help analyze values of commercial buildings' energy efficient features.
The Institute’s Commercial Green and Energy Efficient Addendum offers a communication tool that lenders can use as part of the scope of work. The addendum also assists investors in communicating the construction features of the property that impact income.
Appraisers, builders, energy modelers, green certifiers, architects and investors can use the addendum if a property has green features even if it is not certified. Water and energy efficient features are keys to a higher net income, and appraisers should take care to identify these features, the institute says.
"The market has many different ideas of what makes a property green, and this addendum will assist in understanding actual green features," said Institute president M. Lance Coyle, MAI, SRA. "After the construction of a building, the construction features are often forgotten, and the blueprints and specifications are often misplaced or overlooked." The form is a concise document that records green features for easy reference.
Related Stories
Codes and Standards | Jan 12, 2021
Two net-zero hotel projects could portend a new hospitality trend
Energy-intensive sector comprises 10% of all commercial real estate.
Codes and Standards | Jan 11, 2021
Zero Energy Buildings growth driven by government policy, stringent codes, technologies
Restraints include high upfront cost, and lack of universal definition and approaches.
Codes and Standards | Jan 11, 2021
HUD releases new Fair Housing Act design and construction requirements
First update of ‘safe harbors’ in 15 years provides better clarity for design and construction firms.
Codes and Standards | Jan 8, 2021
Court ruling gives UpCodes upper hand in fight over building codes database
Battle over IP property claims by ICC and other codes bodies continues.
Codes and Standards | Jan 8, 2021
Houston creates tax incentives for green stormwater elements
Businesses that install green roofs, rain gardens, permeable pavement, and rainwater harvesting are eligible.
Codes and Standards | Jan 7, 2021
Trump’s classical design aesthetic mandate for federal buildings likely to be felt for years
May limit the number of firms that could compete for contracts.
Codes and Standards | Jan 7, 2021
Workers on some of Virginia’s major construction projects sue subcontractors for wage theft
Projects include new General Assembly Building, outpatient facility at Virginia Commonwealth University.
Codes and Standards | Jan 5, 2021
EPA finalizes first major update to Lead and Copper rule
Will accelerate pace of lead service line replacement.
Codes and Standards | Jan 5, 2021
Flood risk for affordable housing expected to triple by 2050
Some communities will have 90% of their affordable housing at risk.
Codes and Standards | Jan 4, 2021
Ranks of remote workers expected to double in five years
Nearly 23% of employees will work from outside of offices.
